Vikram Solar Limited has initiated an IPO aiming to raise ₹2,079 crore by offering 4.54 crore shares at a price range of ₹315 to ₹332 per share. This IPO comprises two segments: new shares valued at ₹1,500 crore and shares available for sale worth ₹579 crore. The subscription has been highly successful, with total subscriptions reaching 54.63 times. Qualified Institutional Buyers (QIBs) have shown significant interest, applying for 142.79 times the shares available, while Non-Institutional Investors and Retail Investors applied for 50.90 times and 7.65 times the shares, respectively. Before the IPO opened, anchor investors contributed ₹621 crore.
The proceeds from the IPO will primarily be used to expand the solar power operations of its subsidiary, VSL Green Power Pvt Ltd, and for other business requirements. The Grey Market Premium (GMP) currently stands at ₹377 per share, reflecting a 13.55% increase over the highest IPO price, indicating strong investor interest. Important dates to note include the allotment date, which is set for August 26, 2025, and the listing date on the NSE and BSE, also on August 26, 2025. Investors can verify their allotment status on the MUFG Intime India, NSE, and BSE websites using their application details.