Vikran Engineering IPO: Construction Company’s Issue Subscribed More Than Twice So Far On Day 1

Vikran Engineering IPO (Vikran Engineering Ltd) subscription window opened on August 26. The engineering, procurement, and construction (EPC) company’s issue has been subscribed to 2.38 times cumulatively at the time of writing the story on the first day of subscription. Investors placed bids for over 139.8 million shares of Vikran Engineering Ltd so far, compared to the 58.7 million shares offered for subscription.

Non-Institutional Investors (NIIs) led the demand for Vikran Engineering’s shares and applied for over 64.8 million shares against the 12.58 million shares set aside for them. The construction company's issue was booked 5.15 times in the NII category. The construction company's issue has been booked 2.32 times in the retail individual investors category so far. Retail investors have applied for over 68.08 million shares compared to the 29.36 million shares reserved for the category and booked the issue 2.32 times.

Qualified Institutional Buyers (QIBs) applied for 6.86 million shares of the construction company on the first day of bidding against the 16.78 million shares set aside for the category and booked the issue at 0.41 times.

Vikran Engineering IPO GMP

The grey market premium for Vikran Engineering shares is Rs 18, according to the investorgain website. Given the GMP of Rs 18, the EPC company’s stock is likely to make a strong debut with a premium of over 18 per cent at Rs 115 per share.

Vikran Engineering IPO: Offer Size And Price Band

Vikran Engineering IPO is worth Rs 772 crore. Vikran Engineering IPO comprises a fresh issuance of 74.3 million shares, consisting of Rs 721 crore. The issue also has an offer-for-sale component of 5.3 million shares aggregating to Rs 51 crore. The price band for Vikran Engineering IPO was set at Rs 92 to Rs 97 per share.

Vikran Engineering IPO: Lot Size And Minimum Investment

Retail investors interested in applying for Vikran Engineering IPO can place bids for a minimum of 148 shares, which aggregates to an investment of Rs 14,356. The minimum lot size for Small Non-Institutional Investors (SNIIs) interested in applying for Vikran Engineering IPO is 14 lots or 2,072 shares, amounting to an investment of Rs 2,00,984.

Vikran Engineering IPO: Subscription window, listing date, allotment date

Vikran Engineering IPO bidding window opened on August 26. Vikran Engineering IPO bidding window is scheduled to close on August 29. Vikran Engineering IPO allotment status will be decided on September 1.

After the basis of allotment for Vikran Engineering IPO is decided, the construction company will initiate refunds for unsuccessful applicants on September 2. Successful bidders will receive shares of Vikran Engineering in their demat accounts on September 2 as well. Vikran Engineering’s shares will make their D-street debut on the NSE and BSE. The tentative listing date for Vikran Engineering Ltd shares is September 3.

Vikran Engineering: Key financials

Vikran Engineering’s total income for FY25 stood at Rs 922.36 crore, increasing by over 16 per cent from Rs 791.44 crore in FY24. The construction company's profit-after-tax increased by over four per cent to Rs 77.82 crore in FY25 compared to Rs 74.83 crore in the preceding fiscal. The construction company's net worth increased by over 60 per cent to Rs 467.87 crore in FY25 compared to Rs 291.28 crore in FY24.

Vikran Engineering IPO: Registrar

Vikran Engineering IPO’s registrar is Bigshare Services Pvt.Ltd. The book running lead managers of the issue include Pantomath Capital Advisors Pvt.Ltd.

Vikran Engineering: Promoters

The promoters of the company include Rakesh Ashok Markhedkar, Avinash Markhedkar, and Nakul Markhedkar. The promoters of the company presently hold 81.78 per cent stake in the company.

Vikran Engineering IPO: Objective

Vikran Engineering plans to use the money raised via the public issue for funding its working capital requirements and general corporate purposes.

About Vikran Engineering Ltd

Vikran Engineering Ltd was incorporated in 2008. Vikran Engineering Ltd is engaged in the infrastructure development industry.