Vikram Solar IPO Live Updates: Check Final Day Subscription Status, GMP, Price Band And More

The initial public offering of Vikram Solar has opened for its final day of bidding. The portion for non-institutional and retail investors were overbooked, while qualified investors got 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.

Vikram Solar IPO was subscribed 5.19 times as of 10:17 a.m. on Thursday.

• Qualified Institutions: 0.13 times or 13%

• Non-Institutional Buyers: 15.20 times

• Retail Investors: 3.77 times

• Employee portion: 2.54 times