Vikram Solar shares were listed at nearly 2 percent premium over IPO price on August 26. The Rs 2,079-crore IPO, which was open for subscription between August 19 and 21, was subscribed 54.63 times.
Shares of Vikram Solar were listed at Rs 338 per share on the NSE, a premium of 1.81 percent over it's issue price. The price band was fixed at Rs 315-332 per share. Ahead of the issue, the company raised Rs 621 crore from anchor investors.
On the BSE, the shares were listed at Rs 340 apiece, a premium of 2.4 percent. The company's market capitalization post listing of shares stood at Rs 12,837.34 crore
Vikram Solar share listing was lower than the expectations in the grey market, which had expected more than 10 percent listing gains in the secondary market on Tuesday.
Vikram Solar share listing today: Should you buy, sell or hold?
Akhilesh Desai, Research Analyst at Ajcon Global Services, said, "The Indian solar power sector is set for rapid growth, driven by policy push and rising clean energy demand. Vikram Solar has shown solid revenue and profit growth. Short-term investors may book profits on listing, while long-term investors with higher risk appetite can hold for sector-led growth."
Vikram Solar share listing: Here's a post-listing strategy
Vikram Solar commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12 MW and has grown to 4.50 GW installed capacity as of the date.
It has two solar PV module manufacturing facilities located in West Bengal and Tamil Nadu, and a solar cell manufacturing facility with two units in Gangaikondan, Tamil Nadu. It has established a pan-India presence, serving 19 states and two Union Territories.
The company's key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and large private independent power producers (IPPs), like ACME Cleantech Solutions, Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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