Vikram Solar IPO Day 3 Live: Solar module maker Vikram Solar IPO subscription status was 4.56 times on Wednesday, the second day of bidding. The non-institutional investors portion received 13.01 times subscription, while the quota for Retail Individual Investors(RIIs) got subscribed 3.47 times. Qualified Institutional Buyers (QIBs) part received 11 per cent subscription.
With the Vikram Solar IPO price band set between ₹315 and ₹332 per share, the ₹2,079-crore IPO is scheduled to conclude on August 21.
The Vikram Solar IPO consists of fresh equity issues totaling up to ₹1,500 crore alongside an offer for sale (OFS) of over 1.74 crore shares, which, at the highest end of the price range, are estimated to be worth around ₹579.37 crore from its promoters.
Of the new equity being issued, the company plans to allocate the funds for capital expenditures aimed at investing in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of their initiative.
JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital, and PhillipCapital are the lead managers for this offering.
(Stay tuned for more updates)
