Vikram Solar IPO IPO Subscription Status

A subscription of 56.42x means the IPO received bids for 56 times the number of shares available. For every 56 applications, only 1 can receive an allotment.

Here is what each category number tells you:

QIB at 145.10x: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 145.10x, it reflects serious institutional conviction.

NII at 52.88x: NII includes high net worth individuals applying above Rs 2 lakh. At 52.88x, allotment probability for NII applicants is very low. The bNII segment came in at 59.58x and sNII at 39.47x.

Retail at 7.95x: Retail investors applying up to Rs 2 lakh saw 7.95x subscription. Allotment in the retail category is done by lottery when oversubscription exceeds 1x. At 6.68x applications received, roughly 1 in 7 retail applicants can expect an allotment (~13%).

Employee at 5.10x: The employee reservation category was subscribed 5.10x. Employees who applied face similar lottery-based allotment.

Based on the final subscription data, here is a realistic view of allotment probability by category.

Retail Category: Retail subscription came in at 7.95x based on shares applied and 6.68x based on applications. In the retail category, SEBI mandates a minimum of one lot per applicant when possible. Allotment is done by lottery. At 6.68x applications received, approximately 1 in 7 retail applicants can expect an allotment. Applying from multiple accounts does not improve individual chances but increases household probability if each account is eligible.

NII Category: NII allotment is proportional, not by lottery. At 52.88x, an NII applicant applying for the minimum NII lot can expect a very small proportional allotment. Larger NII applications receive proportionally more shares but the effective return per rupee invested is diluted significantly at this oversubscription level.

QIB Category: QIB allotment is discretionary and handled by the book running lead managers. Retail investors do not participate in this category.

Check the Vikram Solar IPO IPO Allotment Status page from 22 August 2025 for your allotment result.

GMP for Vikram Solar IPO stands at Rs 37.00 today, giving an estimated listing price of Rs 369.00 per share.

A subscription of 56.42x combined with a GMP of 11.14% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.

Track live GMP on the Vikram Solar IPO IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.

Vikram Solar Limited, founded in 2005, is a globally recognized solar photovoltaic (PV) module manufacturer and one of India’s leading solar energy solutions providers. The company operates across the entire solar value chain, offering Solar PV Module Manufacturing, EPC (Engineering, Procurement, and Construction) services for turnkey solar power projects, and O&M (Operations & Maintenance) services. As of March 31, 2024, the company had a manufacturing capacity of 4.

For allotment results from 22 August 2025, visit the Vikram Solar IPO IPO Allotment Status page. For listing day updates on 26 August 2025, download the IPOwiz App.