Vikran Engineering Ltd. is set to launch its initial public offering (IPO) on Tuesday, Aug. 26.
The company operates in the engineering, procurement and construction (EPC) space, with projects spanning underground water distribution, surface water extraction, overhead tanks and distribution networks.
As the bidding window approaches, here’s a look at the grey market premium (GMP) and other important details about the Vikran Engineering IPO.
Vikran Engineering IPO GMP Today
According to InvestorGain, the latest grey market premium (GMP) for Vikran Engineering IPO stood at Rs 17 per share, as of 8.32 a.m. on Aug. 25. Based on the upper end of the IPO price band of Rs 97, the latest GMP reflects an estimated listing price of Rs 114 per share (cap price + today’s GMP), implying a potential gain of around 17.53% per share.
Note: GMP does not represent official data and is based on speculation.
Vikran Engineering IPO Key Details
The Vikran Engineering IPO is a book-built issue worth Rs 772 crore. It comprises a fresh issue of 7.43 crore shares, amounting to Rs 721 crore, and an offer-for-sale (OFS) of 53 lakh shares, worth Rs 51 crore.
The price band for the Vikran Engineering IPO has been fixed between Rs 92 and Rs 97 per share. The lot size is 148 shares, requiring a minimum investment of Rs 13,616 for retail investors. For non-institutional investors (NIIs), the minimum bid is set at 14 lots (2,072 shares) worth Rs 2,00,984 for sNII and 70 lots (10,360 shares) worth Rs 10,04,920 for bNII.
The mainboard IPO will remain open for subscription from Aug. 26 to Aug. 29. The company is expected to finalise the IPO share allotment status on Monday, Sept. 1. Vikran Engineering is scheduled to initiate refunds and transfer of shares to the demat accounts of allottees on Sept. 2.
Shares of Vikran Engineering Ltd are tentatively scheduled to be listed on the BSE and NSE on Wednesday, Sept. 3.
The book running lead manager for the Vikran Engineering IPO is Pantomath Capital Advisors Pvt., while the registrar for the issue is Bigshare Services Pvt.
Vikran Engineering Ltd. Business And Financials
Founded in 2008, Vikran Engineering Ltd. has completed 45 projects in 14 states. As of June 30, the company was working on 44 more projects across 16 states. It works with several government clients, including NTPC, Power Grid Corporation of India, South Bihar Power Distribution, North Bihar Power Distribution and Transmission Corporation of Telangana, among others.
Use Of Proceeds
Vikran Engineering plans to use the funds from its IPO mainly to meet its working capital needs. A part of the money will also be set aside for general corporate purposes.
Financials
Between March 31, 2024 and March 31, 2025, Vikran Engineering Ltd. reported a 17% rise in revenue. Its revenue increased from Rs 791.44 crore in FY24 to Rs 922.36 crore in FY25. During the same period, its profit after tax (PAT) grew 4%, increasing from Rs 74.83 crore to Rs 77.82 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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