The Vikram Solar IPO is now open for subscription. It will be available from August 19 and remain open till August 21. The company has fixed its price band at ₹315–₹332 per share. The issue includes a fresh issue of ₹1,500 crore and an OFS worth ₹579 crore by promoters.

On the first day, the IPO saw only a mild response, with subscriptions ranging between 0.4x and 2%. However, in the grey market, shares are trading at a premium of about ₹54–₹56 per share, suggesting a possible 16% gain on listing. If this holds, the stock could list around ₹386 per share.

Analysts believe the strong grey market demand shows that investors are confident about the solar industry and Vikram Solar’s expansion plans. Even with a quiet Day 1, the IPO is being watched closely for solid listing gains.