Vikram Solar IPO Opens For Subscription Today: What Does GMP Indicate? Time To Subscribe? All You Need To Know

Vikram Solar IPO Subscription Opens Today: The Rs 2,079 crore mainboard initial public offering (IPO) opened for subscription on Tuesday, August 19, and is receiving positive response from investors. The Indian solar energy solutions provider has fixed the IPO price band between Rs 315 and Rs 332 per share. Vikram Solar IPO subscription will close on Thursday, August 21.

Vikram Solar IPO GMP signals over 16% listing gains, according to Chittorgarh.com. The IPO is receiving a strong interest among investors, as indicated by its grey market premium (GMP). Here are all the details you need to know about Vikram Solar IPO.

Vikram Solar IPO Subscription Status

Vikram Solar IPO issue has been subscriibed by around 0.23 times. The public issue was subscribed around 0.28 times in the retail category, and 0 times in the qualified institutional buyers (QIB). Additionally, the mainboard IPO issue has been subscribed by around 0.44 times in the net institutional investors (NII) category, according to Chittorgarh.com at 10:49 am on Tuesday.

Vikram Solar IPO GMP

Vikram Solar IPO GMP indicates around 16% of listing gains. The stock is scheduled to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Vikram Solar IPO's last GMP was recorded at Rs 54 per share at 10 am. With this, its listing price is estimated at Rs 385, including cap price and latest GMP.

Vikram Solar IPO Issue Size

Vikram Solar IPO consists of a fresh share sale worth Rs 1,500 crore and an offer for sale (OFS) of Rs 579 crore at the highest point of the price range. Vikram Solar IPO price band has been fixed at Rs 315-Rs 332 per share.

Vikram Solar IPO lot size is 45 shares. Which means that the minimum amount of investment required by a retail investor is Rs 14,175. The lot size investment for sNII is 14 lots, ie 630 shares, equivalent to Rs 2,09,160 and for bNII, it is 67 lots including 3,015 shares, equivalent to Rs 10,00,980.

Vikram Solar IPO Review

"Vikram Solar's dominant market position, large integrated expansion plan, and solid industry tailwinds make it a quality contender in the renewable sector. While current valuations are at a premium and recent profit jump raises questions on sustainability, the company's growth plans and solar sector policy support offer strong value creation potential over the next several years. Invest with a long-term perspective," noted Gaurav Garg, Lemonn Markets Desk.

According to SBI Securities, Vikram Solar Limited has a lower margin profile than its listed peers due to lack of backward integration and minimal export presence where the margins are usually higher by 2-2.5%.

Vikram Solar IPO: Should You Subscribe?

SBI Securities has given a 'Subscribe' rating for Vikram Solar IPO. "We recommend investors to SUBSCRIBE to the issue at the cutoff price."

Vikram Solar IPO Key Dates

The IPO will open for subscription on Tuesday, August 18. The IPO will remain open for subscription till August 19. The IPO subscription is likely to be finalised on August 22. The tentative Vikram Solar IPO listing date is August 26, according to Chittorgarh.com.

Vikram Solar IPO: Objective To Raise Issue

The company has planned to utilise the funds to support capital expenditures for investment in subsidiaries like VSL Green Power Private Limited, across both Phase 1 and Phase 2 of the project. JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital, and PhillipCapital, are the lead managers of the IPO.

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