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Vikram Solar IPO GMP: The company’s shares are commanding a grey market premium (GMP) of Rs 41, or 12.35% over the issue price of Rs 332.

Vikram Solar IPO Listing Tomorrow.
Vikram Solar IPO Listing Tomorrow: The Vikram Solar IPO, which was open for subscription last week, is set to be listed on the BSE and the NSE tomorrow, August 26. According to market observers, the solar photovoltaic modules manufacturer is commanding a premium of 12.35% in the grey market, indicating mild listing gains for investors.
The initial public offering was open between August 19 and August 21. It received a strong 56.42 times subscription, with the retail portion getting a 7.9x subscription. Its non-institutional investors (NII) category got 52.87x subscription, while the qualified institutional buyers (QIB) category saw the biggest participation with 145.1 times subscription against its quota.
Vikram Solar IPO GMP Today
According to market observers, Vikram Solar’s shares are commanding a grey market premium (GMP) of Rs 41, or 12.35% over the issue price of Rs 332. This indicates that the stock is trading at Rs 373 in the unlisted market, hinting at mild listing gains.
GMP is considered an early indicator of listing price trends, though market conditions on the day of debut also play a crucial role.
Vikram Solar IPO: More Details
The IPO is a combination of a fresh issue of 4.52 crore shares worth Rs 1,500 crore and an offer for sale (OFS) of 1.75 crore shares aggregating to Rs 579.37 crore. The price band has been fixed at Rs 315-332 per share, with a lot size of 45 shares. At the upper price band, the minimum investment for retail investors is Rs 14,940.
The company has already raised Rs 620.81 crore from anchor investors on August 18 by allotting 1.87 crore shares. Half of these will be under a 30-day lock-in, while the rest will be locked in for 90 days.
Proceeds from the fresh issue will be used to partially fund capital expenditure for Phase-I (Rs 769.73 crore) and Phase-II (Rs 595.21 crore) projects, besides meeting general corporate purposes. JM Financial is the book running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.
For FY25, the company reported a revenue of Rs 3,459.53 crore, up 37% year-on-year, while net profit surged 75% to Rs 139.83 crore. Post-issue, promoters’ holding will reduce from 77.64% to 63.11%.
With a market capitalisation of about Rs 12,009 crore at the IPO price, Vikram Solar is betting big on India’s clean energy transition and rising demand for high-efficiency solar modules.

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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