The investment community is abuzz as the Vikram Solar IPO launches. On Day 1, investors are closely tracking GMP (Grey Market Premium), subscription trends, and key price band highlights. This post walks you through every detail—with clarity and conversational flair—so you can decide: should you apply or skip?
IPO Essentials: Date, Price Band & Size
Let’s start with the fundamentals:
- IPO Opening Date: August 19, 2025 — opens today (Gold Silver Reports, The Economic Times, Investor Gain)
- Closing Date: August 21, 2025 (IPO Central)
- Price Band: ₹315 to ₹332 per share (Investor Gain)
- Issue Size: Around ₹2,079 crore — includes ₹1,500 crore fresh issue and ₹579 crore OFS (Investor Gain)
- Lot Size: 45 shares minimum — retail application starts at around ₹14,940 (Investor Gain)
These numbers set the stage for serious investor interest—and some quick decisions.
Grey Market Premium (GMP) on Day 1: The Sentiment Gauge
GMP reflects investor sentiment in unofficial grey market trades ahead of listing. Here’s how it shapes up:
- GMP hovers around 16–17%, signaling optimism. That’s roughly ₹57–58 above the ₹332 upper band, hinting at listing prices in the ₹389–390 range (Money Mint Idea, TradeSmart, Gold Silver Reports).
- Other sources estimate a GMP of ₹63 (~19% expected gain) (Gold Silver Reports).
- Day-to-day GMP trends show fluctuations between ₹60 and ₹72 — with ₹72 on August 13 and ₹60 mid‑August (IPO Watch).
In short: GMP remains healthy, pointing to strong grey market demand, especially for near-term listing gains.
Subscription Status: How Hot Is Day 1?
While full real‑time subscription numbers aren’t publicly visible yet, a strong GMP suggests robust interest from both retail and institutional segments. Anchor investors have already chipped in, showing confidence:
- Anchor round raised about ₹621 crore, with backing from Goldman Sachs, Morgan Stanley India, BNP Paribas, HSBC, ICICI Prudential, and major mutual funds like UTI, Franklin Templeton, Kotak, Nippon India, and Edelweiss (TradeSmart, The Economic Times).
This pre‑IPO enthusiasm usually spills into Day 1 retail appetite.
Should You Apply? Weighing the Factors
Time for the big question: Should you apply for the Vikram Solar IPO? Here’s a breakdown:
Why Apply?
- Medium‑term listing potential: GMP indicates possible gains of 16–19% if the listing fulfills the sentiment.
- Sector tailwinds: Vikram Solar is a leading solar PV manufacturer with strong capacity and renewable energy tailwinds (Current IPO & Upcoming IPO, TradeSmart).
- Strong financials & expansion: Healthy ROE (16.6%), EBITDA margins (~14%), and aggressive capacity growth (~4.5 GW now; 15.5 GW by FY27) offer long‑term promise (Current IPO & Upcoming IPO).
- Institutional backing: Anchor investor confidence is a positive signal (elitewealth.in).
Why Pause or Skip?
- Not purely based on GMP: Grey market premiums fluctuate—don’t rely solely on that for investment decisions (IPO Watch).
- Valuation concerns: The P/E at upper band may be higher than peers, reflecting lofty expectations (The Economic Times).
- IPO risk perception: Sector sensitivity, raw material volatility, and execution challenges are real risks (AstroIPO).
Side-by-Side Snapshot
| Parameter | Details / Insight |
|---|---|
| Date | Opens Aug 19, closes Aug 21, lists ~Aug 26 |
| Price Band | ₹315–₹332 per share |
| GMP (Grey Market Premium) | ~16–19% → listing price potential ₹390+ |
| Anchor Investment | ₹621 crore from top institutional players |
| Strengths | Solar leadership, strong financials, growth |
| Risks | High valuation, sector dynamics, supply chain |
Final Verdict: Apply or Not?
If you’re eyeing short-term listing gains, the current GMP and sentiment look promising. However, if you’re long-term patient capital, Vikram Solar’s fundamentals, expansion roadmap, and solar sector tailwinds make this a potentially rewarding pick—provided you’re comfortable with valuation levels and sector risks.
Key Takeaways
- Vikram Solar IPO opens Aug 19, with a price band of ₹315–₹332 and 45-share lot size.
- GMP of ~16–19% suggests strong listing gain sentiment, possibly listing near ₹390+.
- Strong anchor investor backing adds confidence.
- Solid fundamentals and growth trajectory make a case for long-term holding.
- Market risks and valuation caution apply, so weigh based on your financial goals.
Ready to decide? Monitor Day 1 subscription updates and GMP trends, check allocation once allotment is out, and then evaluate whether to hold for the listing or target long-term growth.
Call-to-action:
For such great insights, do watch our videos on https://www.youtube.com/@Hargharcrore