Overview

• The Rs 2,079.37 crore book-built offer is priced at Rs 315–332 and open Aug. 19–21, with allotment due Aug. 22 and a tentative Aug. 26 listing in a crowded week of mainboard and SME IPOs.
• Vikram Solar raised Rs 620.8 crore from 43 anchor investors by allotting 1.87 crore shares at Rs 332, with domestic mutual funds taking 52.39% of the anchor book.
• By 2:26 p.m. on Day 1, bids reached 0.95 times overall; earlier exchange snapshots showed retail and NII demand outpacing a muted QIB tranche near 0.01 times.
• The grey‑market premium eased from about Rs 65 pre‑opening to roughly Rs 47–56 on Tuesday, implying around 14–17% listing gains, according to trackers; GMP is unofficial.
• Fresh proceeds will fund VSL Green Power’s Tamil Nadu projects—Rs 770 crore for a 3,000 MW integrated cell‑module line and Rs 595 crore toward expanding to 6,000 MW—with Vikram Solar operating 4.5 GW of module capacity and an order book of about 10.34 GW.