Vikram Solar IPO allotment status: Check application, latest GMP & listing date

Vikram Solar is scheduled to finalize the basis of allotment of its shares on Friday, August 22. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by weekend or latest by Monday 25. The solar  photo-voltaic modules manufacturer saw a strong response from the investors.

The IPO of Vikram Solar was open for bidding between August 19 and August 21. It had offered its shares in the price band of Rs 315-332 per share with a lot size of 45 shares. The company raised a total of Rs 2,079.37 crore from its IPO, which included a fresh share sale of Rs 1,500 crore and an offer-for-sale (OFS) of up to 1,74,50,882 equity shares worth Rs 579.37 crore.

The issue was overall subscribed a solid 54.63 times, fetching over 35.06 lakh applications and bids for Rs 82,275 crore. The quota for qualified-institutional bidders (QIBs) was subscribed a bumper 142.79 times. The allocation for non-institutional investors (NIIs) was booked 50.90 times. The portion for employees retail investors were booked 4.84 times and 7.65 times, respectively.

The grey market premium (GMP) of Vikram Solar has seen a strong rise after a strong bidding and recovering market sentiments. Last heard, the company was commanding a premium of Rs 52-55 per share in the unofficial market, suggesting a listing of up to 16-17 per cent to the investors. The GMP stood around Rs 45, when the issue was running for bidding.

Incorporated in 2005, Kolkata-based Vikram Solar is a solar photo-voltaic (PV) modules manufacturer. It has three core operations including solar photovoltaic (PV) module manufacturing; engineering, procurement, and construction (EPC) services; and operations and maintenance (O&M) of solar power installations.

JM Financial, Nuvama Wealth Management, Equirus Capital, UBS Securities India and Phillip Capital India are the book running lead managers of the IPO of Vikram Solar and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on August 26, Tuesday.

Investors, who had bid for the issue of Vikram Solar, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Vikram Solar Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.