Vikram Solar IPO Listing Date: Key things to know before debut on NSE, BSE

As the listing is less than a day away, here are key things you should know.

Vikram Solar IPO: Subscription

The initial public offering got bids for 2,47,81,57,965 shares, which is 54.63 times over 4,53,61,650 shares reserved for investors, as per the consolidated data available on the National Stock Exchange (NSE) website.

The qualified institutional buyers (QIBs) placed bids for 1,80,88,16,760 shares as against 1,26,67,954 shares on offer, leading to a 142.79 times subscription.

The non-institutional investors (NIIs) category was booked 50.90 times, as they submitted applications for 49,43,81,250 shares against 97,12,871 shares on offer.

Retail individual investors (RIIs) applied for 17,34,22,845 shares compared to 22,26,63,365 shares reserved. This reflects a 7.65 times subscription.

Vikram Solar IPO: A look at its objectives

The issue was a mix of fresh issuance of shares valued at ₹1,500 crore and an offer for sale (OFS) aggregating to ₹579.37 crore.

Under the OFS, Gyanesh Chaudhary, Anil Chaudhary and Vikram Capital Management Private Limited will offload their stake.

The net proceeds will be used for funding of capital expenditure through investment in wholly-owned unit VSL Green Power Pvt Ltd for Phase I and Phase II projects. It will also be utilised for general corporate purposes.

Additionally, the company, in its RHP, said it "will receive the benefits of listing of its equity shares on the stock exchanges, including enhancement of our company’s brand name and creating a public market for our equity shares in India."

Vikram Solar IPO: Listing date and time

The Vikram Solar IPO share listing on the BSE (formerly Bombay Stock Exchange) and National Stock Exchange (NSE) will take place on Tuesday, August 26, at 10 am.

Vikram Solar IPO GMP