Patel Retail and Vikram Solar Set for Market Debut Amid Strong IPO Demand

Four companies—Patel Retail, Vikram Solar, Shreeji Shipping Global, and Gem Aromatics—are poised to make their secondary market debut today. Their combined IPOs, totaling ₹3,184 crore, attracted overwhelming demand, with bids reaching ₹1.27 lakh crore net of anchor investments.

Patel Retail emerges as the standout, with its ₹242.76 crore IPO priced at ₹255 per share. The stock is expected to list at a premium of ₹55-60, reflecting robust investor confidence. The offering saw frenzied bidding across categories: institutional investors oversubscribed 272x, while retail and employee portions drew 42x and 25x demand respectively.

Proceeds will primarily service debt (₹59 crore) and fund working capital (₹115 crore), with anchor investors committing ₹43.46 crore. The market watches closely as these listings test appetite for new equity amid volatile conditions.