Vikram Solar IPO subscribed over 9 times so far on day 3; check allotment steps and all you need to know

Vikram Solar IPO: The initial public offering of Vikram Solar, which makes solar modules, has been subscribed 9.26 times so far on the final day of bidding on Thursday, August 21.

The issue received bids for 41,98,87,305 shares compared to 4,53,61,650 shares on offer, as per the consolidated data on the NSE website until 12:20 pm.

The part reserved for non-institutional investors received 27.75 times subscription, while the category for retail individual investors (RIIs) was booked 5.19 times. Qualified Institutional Buyers (QIBs) quota received 2.49 times subscription.

The ₹2,079.37 crore initial public offering, with a price range of ₹315 to ₹332 per share, is a mix of new equity shares worth up to ₹1,500 crore and an offer for sale of ₹579.37 crore.

The funds generated will be used for investment in its wholly owned unit, VSL Green Power Private Limited, for both Phase I and Phase II of the project and general corporate purposes.

Vikram Solar is one of the largest solar module manufacturers in India. It is also an integrated solar energy solutions provider, offering EPC and operations and maintenance (O&M) services.

Vikram Solar IPO allotment date

The basis of allotment of Vikram Solar is likely to be finalised on Friday, August 22, and the details will be available on MUFG Intime India, NSE and BSE.

JM Financial, Nuvama Wealth Management, Equirus Capital, UBS Securities and PhillipCapital were book-running lead managers to the offer.

How to check Vikram Solar IPO allotment status on NSE

• Visit this page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose ‘Equity & SME IPO bid details’
• Pick 'Vikram Solar' under the symbol 'VIKRAMSOLR'
• Enter PAN and application number
• Click on the 'Submit' button

Steps to check Vikram Solar IPO allotment status on BSE

• Visit BSE's IPO status page: https://bseindia.com/investors/appli_check.aspx
• Keep 'Equity' as the issue type
• Pick 'Vikram Solar Ltd' from the 'Issue Name' list
• Enter PAN or application number
• Click on the 'Search' button

Vikram Solar IPO allotment status on MUFG Intime India; check steps

• Go to MUFG Intime India's allotment website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Select 'Vikram Solar Limited' from IPO names
• Type any one: Application No, PAN, DP/Client ID, or Account No/IFSC
• Press the 'Submit' button

Vikram Solar IPO GMP

According to media reports and investorgain.com, Vikram Solar's unlisted shares are trading at ₹376 per share, reflecting a grey market premium of 13.25% over the upper price band of ₹332.