Vikram Solar IPO GMP Today: Last Call For Investors! IPO Subscription Ends On Aug 21, Issue Booked Over 4.73x

Vikram Solar IPO GMP Today: All the primary market investors out there, the Rs 2,079.37 crore initial public offering (IPO) of Vikram Solar is set to close for subscription on Thursday, August 21. The issue has been subscribed to around 4.73 times so far till 8:28 am, according to Chittorgarh.com. Vikram Solar IPO GMP today (grey market premium) remained steady, after declining over the past few days.

Vikram Solar IPO witnessed decent response from investors with maximum participation by the net institutional investors (NIIs). The IPO is expected to be listed by the end of August. Here are latest Vikram Solar IPO GMP and subscription details.

Vikram Solar IPO GMP Today

The grey market premium of Vikram Solar IPO stood at Rs 42, according to Chittorgarh.com at 8:28 am. With this, Vikram Solar IPO listing price is estimated to be Rs 374 (sum of IPO GMP and issue price). The issue may see an expected percentage gain (or loss) of 12.65%.

The grey market premium is the the extra price which investors are ready to pay for the IPO on the grey market before IPO listing. IPO GMP indicates the price at which these company's shares are traded on unlisted exchanges. A company's GMP doesn't indicate the actual listing price of an IPO and is not always accurate.

Vikram IPO GMP stood at Rs 72 few days ago indicating a significant demand for the IPO in the grey market. Given the subscription status of the IPO, it is likely to open with listing gains.

VIkram IPO Subscription Details

Vikram Solar IPO has been subscribed by 4.73 times till Wednesday 5 pm, according to Chittorgarh.com. The public issue has been subscribed by around 3.62 times in the retail category.The IPO has been subscribed by 0.12 times in the qualified institutional buyers (QIB) segment, and 13.51 times in the net institutional category by August 20.

Vikram Solar IPO Review

Vikram Solar Limited's installed solar module manufacturing capacity is likely to quadruple in FY26 to 15.5GW. The company's growth is likely to be driven by capacity expansion, robust domestic demand led by multiple levers like PM Surya Ghar Muft Bijli Yojana, PM Kusum Yojana, etc.

According to SBI Securities, "At the upper price band of Rs 332, VSL is valued at 85.9x FY25 P/E and 21.4x EV/EBITDA on post issue capital. The valuation is in-line with peers on EV/EBITDA basis. Margin is expected to improve as the solar cell capacity comes onstream in FY27."

Vikram Solar IPO: Should You Subscribe?

SBI Securities has recommended potential inventors to 'Subscribe' Vikram Solar IPO. ". We recommend investors to SUBSCRIBE to the issue at the cut-off price," noted the brokerage in its report.

Brokerage Deven Choksey Research has given a 'Neutral' rating for Vikram Solar IPO.

"We believe the its initial issue to be fairly valued, and assign a "NEUTRAL" rating, led by its inferior margin and return profile compared to the peers on back of lack on backward integrations," mentioned Deven Choksey in its report. Brokerage Go India Advisors has maintained a 'Subscribe' call for Vikram Solar IPO.

Vikram Solar IPO Key Details

One of the largest solar photovoltaic module producers in India, Vikram Solar, has fixed its IPO price band at Rs 315-332 per equity share. The IPO is set to go on listing on the NSE and BSE. The Kolkata-based company has planned to raise around Rs 2,079.37 crore of funds with this IPO. Out of this, the company has planned to raise around Rs 1,500 crore through the issuance of fresh shares. Whereas, the remaining Rs 579.37 crore is kept for offer for sale (OFS) route.