Vikram Solar share price is attracting massive attention as the company prepares for its much-awaited listing on the stock market. Scheduled for August 26, the IPO has already gained strong momentum with overwhelming subscription numbers and a healthy grey market premium (GMP). Market watchers and investors are now keenly waiting to see how the solar energy company performs on debut day.
This article explains in detail the IPO subscription status, grey market trends, price band, allotment details, and expectations surrounding Vikram Solar’s stock market journey.
Vikram Solar IPO Listing Date and Allotment
The official Vikram Solar IPO listing date is set for Tuesday, August 26. Investors who received allotments during the subscription period have had their shares credited to demat accounts on Monday, August 25. Refunds for those who did not receive allotments were also processed on the same day.
The IPO allotment was finalized on Friday, August 22, and the company ensured a smooth process for both share crediting and refunds.
Strong Subscription Numbers
The IPO of Vikram Solar was open for subscription from August 19 to August 21. During this period, it received an exceptional response across investor categories:
- Qualified Institutional Buyers (QIBs): Subscribed 142.79 times
- Non-Institutional Investors (NIIs): Subscribed 50.90 times
- Retail Investors: Subscribed 7.65 times
On the final day, the overall subscription stood at 54.63 times, reflecting the strong demand and investors’ confidence in the company’s growth prospects.
The company had reserved not more than 50% of shares for QIBs, not less than 15% for NIIs, and not less than 35% for retail investors. Additionally, an employee quota worth ₹100 million was also reserved.
Vikram Solar IPO Price Band and Lot Size
The price band for the IPO was fixed between ₹315 and ₹332 per share, with a face value of ₹10. The lot size was set at 45 equity shares, with investors able to bid in multiples of 45 thereafter.
This pricing strategy, combined with the attractive lot size, ensured active participation from small and large investors alike.
Vikram Solar Grey Market Premium (GMP) Today
The grey market has shown a positive trend for Vikram Solar IPO. According to market observers, the Vikram Solar IPO GMP today is +41, meaning shares are trading at a premium of ₹41 in the unofficial market.
If we consider the upper end of the price band at ₹332, the premium suggests an estimated listing price of ₹373 per share—about 12.35% higher than the issue price.
Over the last 15 sessions, the GMP has been rising consistently, reaching a maximum of ₹69 and a minimum of ₹0. This signals that investors expect a strong market debut and solid post-listing performance.
Why Grey Market Premium Matters
The grey market premium (GMP) reflects how much investors are willing to pay over the IPO price before the official listing. A rising GMP, like the one seen with Vikram Solar, usually indicates strong demand and higher listing expectations. However, experts caution that GMP is unofficial and should not be the sole factor in making investment decisions.
Size of the IPO and Fund Utilization
The Vikram Solar IPO comprised a fresh issue of 4.52 crore shares worth ₹1,500 crore and an offer for sale (OFS) of 1.75 crore shares worth ₹579.37 crore. The selling shareholders included promoters Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary.
The funds raised from the fresh issue will be primarily used for:
- Capital expenditure for Phase-I and Phase-II projects
- Strengthening the company’s manufacturing capacity
- General corporate purposes
Meanwhile, proceeds from the offer for sale will go directly to the selling shareholders.
Shareholding Pattern
Before the IPO, promoters held a 77.64% stake in Vikram Solar, while the remaining 22.36% was owned by the public. Notable among the public shareholders is Arpit Khandelwal from Plutus Wealth Management.
Post-listing, the shareholding pattern will change, with increased public participation expected due to the strong subscription.
Lead Managers and Registrars
- JM Financial Ltd acted as the book-running lead manager for the IPO.
- MUFG Intime India Pvt. Ltd functioned as the registrar.
These firms ensured smooth handling of subscriptions, allotments, and refunds.
Vikram Solar Share Price Expectations
With the Vikram Solar share price estimated around ₹373 at listing, experts believe the stock could see a positive debut on the exchanges. The rising grey market premium, strong subscription from QIBs, and overall investor interest point toward a healthy start.
However, analysts also advise investors to consider long-term fundamentals. Vikram Solar, being a leading solar module manufacturer, is well-positioned to benefit from India’s renewable energy push, but like any stock, it carries market risks.
Key IPO Details at a Glance
| Detail | Information |
|---|---|
| IPO Open Dates | August 19 – August 21 |
| Allotment Finalized | August 22 |
| Shares Credited/Refunds | August 25 |
| Listing Date | August 26 |
| Price Band | ₹315 – ₹332 |
| Lot Size | 45 shares and multiples |
| Overall Subscription | 54.63 times |
| QIB Subscription | 142.79 times |
| NII Subscription | 50.90 times |
| Retail Subscription | 7.65 times |
| GMP Today | +41 (estimated listing at ₹373) |
| Fresh Issue Size | ₹1,500 crore |
| Offer for Sale | ₹579.37 crore |
| Lead Manager | JM Financial Ltd |
| Registrar | MUFG Intime India Pvt. Ltd |
Also read: What is a Tariff in Simple Terms? A Complete Guide for Beginners
Conclusion
The much-awaited Vikram Solar share price listing is set to be one of the key highlights of the Indian stock market this month. With impressive subscription numbers, rising grey market premium, and strong institutional backing, the company is expected to make a solid debut.
Still, experts remind investors that short-term price movements can be volatile, and long-term value depends on company performance, industry growth, and broader market conditions.
As India aggressively pushes toward renewable energy, Vikram Solar stands at a promising position to benefit. For investors, the listing could mark just the beginning of a bigger journey with one of the country’s leading solar module makers.
