Vikram Solar IPO Live Updates: Check Final Day Subscription Status, GMP, Price Band And More
Vikram Solar IPO: The portion for non-institutional and retail investors were overbooked, while qualified investors got subdued response.
The initial public offering of Vikram Solar has opened for its final day of bidding. The portion for qualified investors was overbooked after a subdued response.
The IPO was subscribed 4.73 times till the end of day two on Wednesday and 1.52 times on the first day.
The IPO, which aims to raise Rs 2,079 crore, is open till Aug. 21. The price band is set at Rs 315 to Rs 332 apiece, with a face value of Rs 10.
The solar photovoltaic module manufacturer's IPO is a mix of a fresh issue of shares up to Rs 1,500 crore and an offer for sale by promoters of up to 17.45 million equity shares worth Rs 579 crore.
Vikram Solar Ltd. raised Rs 620.8 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 1.87 crore shares at Rs 332 apiece to 43 anchor investors. The tentative date of allotment of shares to IPO investors is Aug. 22, and the stock is set to list on both the exchanges on Aug. 26.
JM Financial Ltd., Nuvama Wealth Management Ltd., UBS Securities India Pvt., Equirus Capital Pvt. and PhillipCapital India Pvt. are the book-running lead managers for the issue.
Subscription Status: Day Three
Vikram Solar IPO was subscribed 9.14 times as of 12:12 p.m. on Thursday.
Qualified Institutions: 2.28 times.
Non-Institutional Buyers: 27.54 times
Retail Investors: 5.18 times
Employee portion: 3.45 times
IPO GMP
The grey market premium of Vikram Solar was at Rs 44 as of 12:15 p.m. on InvestorGain. The GMP price indicated 12.65% listing gain as indicated by the implied listing price of Rs 376.
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.
