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Kolkata: Vikram Solar has successfully mobilised Rs 621 from anchor investors on August 18, a day before its IPO begins the bidding process from anchor investors. The institutions that participated in the round includes names such as Goldman Sachs Fund, Morgan Stanley India Investment Fund, BNP Paribas, HSBC, Citigroup, ICICI Prudential Life Company, SBI General Insurance Company, UTI Mutual Fund, Franklin Templeton MF, Kotak Mahindra MF, Nippon India MF and Edelweiss MF. A total of 1.87 crore equity shares at Rs 332 each were allotted.
Vikram Solar IPO is designed to raise Rs 2,079.37 crores through fresh shares of 4.52 crore shares that would amount to Rs 1,500.00 crore and an OFS portion to raise Rs 579.37 crores. The price band for a share is set at Rs 315.00-332.00. For a retail investor the smallest investible lot has 45 shares which will cost Rs 14,940. For sNII investors, the smallest lot consists of 630 shares and for bNII investors, the lot has 3,015 shares.
The bidding process starts today and ends on Aug 21, 2025. The allotment date for the Vikram Solar IPO is August 22, while the listing date is August 26, when the shares will list both on BSE and NSE. JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital and PhillipCapital have been appointed lead managers and Link Intime India is the registrar for the issue.
The GMP (Grey Market premium) of Vikram Solar stood at Rs 54 on the morning of August 19, the first day of the application process. At this level, it indicates a listing gain of 16.27%. The GMP was Rs 69 on August 12. It climbed down to the current level on August 18. However, it must be remembered that GMP is an unofficial gauge and does not guarantee anything -- gain or loss on listing.
Vikram Solar was set up in 2005. Its core competencies include manufacture of solar photovoltaic modules, engineering, procurement and construction of solar power projects, operations and maintenance of solar power projects etc. Vikram Solar has a presence in 23 states and three union territories and its customers include National Thermal Power Corporation, Neyveli Lignite Corporation and Gujarat Industries Power Company apart from a few private firms.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
