Vikram Solar share price: Stock makes tepid debut on NSE; here's how much investors gained

The stock listed at ₹338 apiece on the National Stock Exchange (NSE). This reflects a premium of 1.81% from the issue price of ₹332.

It started trading at ₹340 apiece on the BSE, up 2.41%.

Vikram Solar share price: Here's how much investors made

Vikram Solar's ₹2,079.37 crore initial public offering was a fresh issuance of shares worth ₹1,500 crore and an offer for sale of ₹579.37 crore. The price range was set at ₹315 to ₹332 per share.

The funds generated will be used for general corporate purposes and fund capital expenditure via investment in the wholly-owned unit VSL Green Power Private Limited for Phase I and Phase II projects.

The initial share sale received bids for 2,47,81,57,965 equity shares as against 4,53,61,650 shares on offer, translating to a 54.63 times subscription, as per the NSE data.

The part set aside for qualified institutional buyers (QIBs) was booked 142.79 times, as they applied for 1,80,88,16,760 shares compared to 1,26,67,954 shares on offer.

The non-institutional investors' (NIIs) quota was subscribed 50.90 times, as they filed applications for 49,43,81,250 equity shares against 97,12,871 shares on offer.

Retail investors applied for 17,34,22,845 shares, which is 7.65 times over 22,26,63,365 shares reserved for the category.

Before the IPO, the company had raised ₹621 crore from anchor investors, including Goldman Sachs Fund, BNP Paribas, Morgan Stanley India Investment Fund, Citigroup, HSBC, SBI General Insurance Company, ICICI Prudential Life Company, UTI Mutual Fund (MF), Kotak Mahindra MF, Nippon India MF, Franklin Templeton MF, and Edelweiss MF.

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