What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the current subscription status of Vikram Solar Limited IPO?

Vikram Solar Limited IPO has received a total subscription of 56.41 times overall.

IPO GreyPremiumLIVE

Grey Market Intelligence

Vikram Solar Limited

ListedMainboard

Industrial & Financial Services · NSE / BSE

Vikram Solar Limited, established in 2005, is a leading name in the solar energy sector, specializing in the production of high-efficiency photovoltaic (PV) modules. Serving both Indian and international markets, the company offers advanced solar solutions through three main business segments: PV module manufacturing, turnkey Engineering, Procurement, and Construction (EPC) services, and operations and maintenance (O&M) support to ensure long-term performance and reliability of solar installations. Its product portfolio features high-performance modules developed using cutting-edge technologies such as PERC (p-type monocrystalline silicon with Passivated Emitter and Rear Contact), TOPCon (n-type monocrystalline silicon with Tunnel Oxide Passivated Contact), and HJT (n-type silicon with Heterojunction Technology). These modules are available in both bifacial (glass-to-glass or glass-to-transparent back sheet) and monofacial (glass-to-white or black back sheet) variants. The company operates two strategically located manufacturing facilities—one in Falta SEZ, Kolkata, West Bengal, and another in Oragadam, Chennai, Tamil Nadu. As of March 31, 2024, Vikram Solar had a workforce comprising 1,513 permanent employees and 728 contractual workers

Price Band

₹315 – ₹332

Issue Size

₹2079 Cr

Lot Size

45 shares

GMP

₹35

+10.5%

Est. Listing

₹367

at current GMP

Subscribed

56.41x

overall

Open

19 Aug 2025

21 Aug 2025

Allotment

22 Aug 2025

Refund

23 Aug 2025

Demat Credit

24 Aug 2025

Listing

26 Aug 2025

Last updated 12 days ago

Overview Live GMP Subscription Status Allotment Status Filing Documents

Overall Subscription

56.41x

Total Demand

QIB Multiplier

145.10x

Institutions & Funds

NII / HNI

52.88x

High Net-Worth

Retail (RII)

7.95x

Individual Bidders

Category-Wise Subscription Breakup

Live bidding breakdown by institutional, non-institutional, and retail investors

Total 56.41x

Category	Shares Offered	Shares Applied / Bid	Times Subscribed
QIB	12,466,080	1,808,816,760	145.10x
NIB	9,349,560	494,381,250	52.88x
HNIs(10L +)	6,233,040	371,360,295	59.58x
HNIs (2-10L)	3,116,520	123,020,955	39.47x
RETAIL	21,815,640	173,422,845	7.95x
EMPLOYEES	301,205	1,537,110	5.10x
Total	53,282,045	2,972,539,215	56.41x

Application-Wise Breakup

Total unique applications received across retail and HNI tranches

Apps 3.34x

Category	Applications Reserved	Applications Received	Times Subscribed
HNIs (10L+)	9,894	31,900	3.22x
HNIs (2-10L)	4,947	73,150	14.79x
RETAIL	484,792	1,549,222	3.20x
Employee	—	12,822	0.00x
Total Applications	499,633	1,667,094	3.34x

Day-Wise Subscription Progress

Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.

About Vikram Solar Limited Public Issue & Market Profile

Vikram Solar Limited is bringing an initial public offering (IPO) in the Industrial & Financial Services sector with an aggregate issue size of ₹2,079.37 Crores. The shares are offered at a price band of ₹315 to ₹332 per equity share on NSE and BSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.

Bidding & Quota Instructions:

The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.

Allotment Reconciliation Schedule:

Following the close of bidding on 2025-08-21, the basis of allotment is scheduled to be finalized on 2025-08-22. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Link Intime India Private Ltd (MUFG)) or the BSE allotment checking window.

Frequently Asked Questions

What is Vikram Solar Limited IPO GMP today?

The latest Grey Market Premium (GMP) for Vikram Solar Limited IPO is ₹35 per equity share. Based on the upper price band of ₹315 to ₹332 per equity share, the estimated listing price is ₹367 (+10.5% expected listing gain).

What is the expected profit per lot for Vikram Solar Limited IPO?

With a lot size of 45 shares and current GMP of ₹35, the expected profit per application lot is approx ₹1,575 (+10.5% gain). Minimum application cost is approx ₹14,940.

What is the issue size and price band for Vikram Solar Limited IPO?

The Vikram Solar Limited IPO aggregate issue size is ₹2,079.37 Crores with an equity price band set at ₹315 to ₹332 per equity share. The retail lot size is 45 shares requiring a minimum capital outlay of approx. ₹14,940.

How can I check Vikram Solar Limited IPO live subscription demand?

Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 56.41x (Retail: 7.95x, QIB: 145.10x, NII: 52.88x). You can track live multiples directly on our dedicated subscription page.

Where and when will Vikram Solar Limited IPO allotment status be published?

The basis of allotment will be published on the official registrar portal (Link Intime India Private Ltd (MUFG)) and the BSE status verification website on or around 2025-08-22. Investors can verify status using PAN card or application number.

When is the listing date for Vikram Solar Limited IPO?

Vikram Solar Limited shares are scheduled to list on NSE and BSE on 2025-08-26.