Vikram Solar IPO Allotment In Spotlight Today: Check Steps To Verify Status, Latest GMP, Listing Date

The initial public offering of Vikram Solar Ltd. witnessed strong demand during the three-day bidding period from August 19 to August 21. The mainboard IPO was subscribed 54.63 times on the last day of bidding on Thursday.

Investors submitted bids for more than 247.81 crore shares against 4.53 crore shares on offer, as per the NSE data.

The Qualified Institutional Buyers (QIBs) booked their category 142.79 times. The Non-Institutional Investors’ (NIIs) segment was subscribed 50.9 times, while the retail portion was booked 7.65 times. The employees booked their quota 4.84 times.

The Vikram Solar IPO was a book-built issue worth Rs 2,079.37 crore, comprising a fresh issue of 4.52 crore shares, aggregating Rs 1,500 crore, and an offer-for-sale (OFS) component of 1.75 crore shares, worth Rs 579.37 crore. The price band for the IPO was set between Rs 315 and Rs 332 per share.

Following the robust subscription, the Vikram Solar IPO share allotment status is expected to be finalised on August 22. Investors who participated in the IPO can check the allotment status on the websites of BSE, NSE and the issue registrar, MUFG Intime India (formerly Link Intime).

• Visit the BSE IPO allotment page here - https://www.bseindia.com/static/investors/application_statuschecksystem.aspx.

• Choose the issue type as “Equity”.

• Select “Vikram Solar Ltd.” from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the Captcha for verification.

• Click on the “Search” button to check your allotment status.

• Visit the IPO allotment page on the NSE website here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.

• Select “Equity & SME IPO bid details”.

• Pick the company symbol "VIKRAMSOLR" from the dropdown list.

• Enter your PAN and Application Number.

• Click “Submit” to check your share allotment status.

• Visit the IPO allotment page on the website of MUFG Intime India here - https://in.mpms.mufg.com/Initial_Offer/public-issues.html.

• From the drop-down menu, select “Vikram Solar Ltd.”  

• Choose one of the following options: PAN, Application Number, DP/Client ID, or Account No/IFSC.

• Enter relevant details based on your selection

• Click on ‘Submit’ to view your allotment status.

The grey market premium (GMP) for Vikram Solar IPO stood at Rs 45, as of 8:00 a.m. on August 22. The latest GMP indicates an estimated listing price of Rs 377 apiece over the upper limit of the IPO price band at a premium of 13.55%.

Since the issue opened for subscription, the current GMP is the highest recorded for the IPO. The lowest GMP of Rs 42 was recorded on August 20, Day 2 of the subscription period.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

Shares of Vikram Solar Ltd. are expected to be listed on the NSE and BSE on August 26.

The company is scheduled to initiate refunds and transfer of shares to the Demat accounts on August 25.

Vikram Solar, incorporated in 2005, is a manufacturer of solar photovoltaic (PV) modules. The company produces solar PV modules for both domestic and international markets. Apart from manufacturing, Vikram Solar provides engineering, procurement and construction (EPC) services for solar power projects. It also offers operations and maintenance (O&M) services for solar installations.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.