The bidding period for four initial public offerings (IPOs) — Patel Retail, Vikram Solar, Gem Aromatics, and Shreeji Shipping Global — will officially close today, August 21, 2025. All four issues opened for subscription on August 19 and will complete their allotment process on August 22. The shares of these companies are set to list on August 26 on both the BSE and NSE.
Investor participation has been strong across retail, qualified institutional buyers (QIBs), and non-institutional investors (NIIs). However, subscription trends and grey market premium (GMP) data reveal varying levels of potential listing gains.
Patel Retail is aiming to raise ₹242.76 crore, which includes a fresh issue of ₹217.21 crore and an offer for sale worth ₹25.55 crore. The price band is ₹237–₹255 per share.
The IPO has seen significant traction, recording an overall subscription of 19.51 times. Category-wise, it was subscribed 16.60 times by retail investors, 17.14 times by QIBs (excluding anchor investors), and 26.09 times by NIIs.
According to the grey market, Patel Retail’s last recorded GMP stands at ₹50. This translates into an estimated listing price of ₹305, against the upper price band of ₹255, indicating a potential listing gain of 19.61%.
Among the four, Vikram Solar’s IPO is the biggest, targeting ₹2,079.37 crore. This comprises a fresh issue of ₹1,500 crore and an offer for sale worth ₹579.37 crore. The price band has been fixed between ₹315 and ₹332 per share.
Retail investors can bid for a minimum lot size of 45 shares, which amounts to ₹14,175 at the upper price band. The IPO has so far been subscribed 4.73 times overall, including 3.62 times in retail, 0.12 times in QIBs, and 13.51 times in NIIs.
The GMP is currently ₹42, suggesting an estimated listing price of ₹374 per share, which implies possible listing gains of 12.65%.
Gem Aromatics is seeking to raise ₹451.25 crore, consisting of a fresh issue worth ₹175 crore and an offer for sale of ₹276.25 crore. The price band is set between ₹309 and ₹325 per share.
As of the latest data, the IPO was subscribed 2.92 times overall, with 3.25 times subscription from retail investors, 1.50 times from QIBs, and 4.03 times from NIIs.
The company’s GMP stands at ₹26, taking the expected listing price to ₹351 per share, which could provide investors with an 8% listing gain.
Shreeji Shipping Global is looking to raise ₹410.71 crore entirely through a fresh issue of 1.63 crore shares. The price band has been fixed between ₹240 and ₹252 per share.
The IPO has received an overall subscription of 6.59 times, including 6.99 times by retail investors, 2.42 times by QIBs, and 11.22 times by NIIs.
The last reported GMP is ₹35, which points to an estimated listing price of ₹287 per share. This reflects a potential listing gain of 13.89%.
Based on GMP data, Patel Retail leads the pack with the potential for a 19.61% listing premium. It is followed by:
Shreeji Shipping Global – 13.89%
Vikram Solar – 12.65%
Gem Aromatics – 8%
While GMP provides early insights into investor sentiment, actual listing performance will depend on broader market conditions, liquidity, and demand on the day of debut.
Conclusion
Infosys’ decision to roll out performance bonuses with an average payout of 80% for Q1 FY2025-26 highlights the company’s resilience and commitment to rewarding its workforce despite ongoing challenges in the global IT sector.
This move not only acknowledges the contributions of its employees but also reinforces morale at a time when the industry is navigating margin pressures, cautious client spending, and rapid technological shifts such as AI and automation.
By sustaining a healthy bonus distribution, Infosys sends a strong signal of financial stability and long-term confidence in its growth trajectory.
The payout reflects a strategic balance between operational efficiency and employee motivation, ensuring that talent remains engaged and committed to driving innovation.
As Infosys continues to align itself with evolving client needs and global digital transformation trends, the company’s focus on its people will remain a cornerstone of its competitive advantage in the IT services landscape.