Vikran Engineering Share Price: IPO Debut Falls Short of Grey Market Expectations

Vikran Engineering Share Price: Vikran Engineering shares made a muted debut on the stock market on September 3, 2025. The stock opened at Rs.99.70 on the BSE, just 2.78% above its issue price of Rs.97. On the NSE, it listed at Rs.99, a premium of 2%. This was lower than expected, considering the grey market premium (GMP) had indicated gains of around 7%.

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Investor Listing Gains

For retail investors, the listing day profit was limited. With a lot size of 148 shares, the IPO investment stood at Rs.14,356. At the BSE listing price, the value of one lot rose to Rs.14,755.6 — giving a net gain of just ₹399.60 to each retail investor.

Post-Listing Performance

After its debut, Vikran Engineering stock showed mild volatility. The share touched a high of Rs.101.39 and a low of Rs.97.92 during the session. At this level, the company’s market capitalization stood at Rs.2,592.26 crore.

Strong IPO Subscription

Despite a modest listing, the IPO saw robust investor demand. The Rs.772-crore issue was subscribed 23.59 times overall. Non-institutional investors led the rally with 58.58 times subscription, followed by Qualified Institutional Buyers (19.45 times) and retail investors (10.97 times).

Fund Utilization Plans

The Mumbai-based infrastructure firm plans to utilize IPO proceeds strategically. Out of the fresh issue, Rs.541 crore will be used to meet working capital needs, while the remaining amount will go towards general corporate purposes. The company had also raised Rs.231.6 crore from anchor investors ahead of the IPO.

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