Vikran Engineering IPO: Price Band, Dates, GMP and Business Overview

Vikran Engineering IPO: Vikran Engineering’s Rs.772 crore IPO will open for subscription on August 26 and close on August 29. The price band has been set at Rs.92–97 per share. Also Read: Stocks to Watch Today: IndiGo, Yes Bank, JSW Steel, Indian Hotels in Focus

Grey Market Premium (GMP)

The IPO is drawing strong interest in the grey market, where shares are trading at a 17% premium over the upper price band of Rs.97. This translates to a premium of about Rs.16, suggesting a potential listing around Rs.113. However, GMP is unofficial and subject to fluctuations.

IPO Structure and Allocation

The issue includes a fresh share sale worth Rs.721 crore and an offer for sale (OFS) of Rs.51 crore. Allocation will be divided as follows:

• Up to 50% for Qualified Institutional Buyers (QIBs)
• At least 15% for Non-Institutional Investors (NIIs)
• A minimum of 35% for retail investors

Investors can bid for a minimum of 148 shares and in multiples thereafter.

Use of Funds

Out of the fresh issue proceeds, Rs.541 crore will be used for working capital requirements, while the remaining funds will go towards general corporate purposes.

Business Overview

Vikran Engineering is a fast-growing EPC (Engineering, Procurement, and Construction) company, with a strong presence in energy, water infrastructure, railways, and solar projects.

• Successfully executed 45 projects across 14 states with a contract value of Rs.1,920 crore.
• Currently handling 44 projects across 16 states with an order book worth Rs.5,120 crore.
• Key government clients include NTPC, Power Grid Corporation, South Bihar Power Distribution, Assam Power Distribution, and East Central Railway.

Financial Performance

The company reported:

• Revenue growth of 16.5% – from Rs.786 crore in FY24 to Rs.916 crore in FY25.
• Net profit up 4% – from Rs.75 crore to Rs.78 crore in the same period.

Lead Managers & Registrar

The IPO is being managed by Pantomath Capital Advisors and Systematix Corporate Services, while Bigshare Services is acting as the registrar. Also Read: Patel Retail IPO Day 1: GMP, Subscription Status, and Expert Review