The stock market saw buzzing action today as Vikran Engineering's IPO opened for subscription. Within just two hours of opening, the public issue was fully subscribed, showcasing the strong investor appetite for this Mumbai-based infrastructure player.
Market Performance: IPO Draws Strong Demand
The ₹772-crore Vikran Engineering IPO opened on August 26 and is set to close on August 29. The price band has been fixed at ₹92–97 per share.
- As per NSE data around 12:30 p.m., the IPO was subscribed 1.01 times on Day 1.
- Bids received stood at 5.93 crore shares against 5.87 crore shares on offer.
- A day before opening, the company also raised ₹231.6 crore from anchor investors.
The subscription breakdown on Day 1 tells its own story:
- Qualified Institutional Buyers (QIBs): 19% subscription
- Non-Institutional Investors (NIIs): 1.89 times
- Retail Individual Investors (RIIs): 1.11 times
This quick response highlights the trust and enthusiasm retail and institutional investors are placing in the company’s growth trajectory.
Vikran Engineering IPO GMP Today
Another layer of excitement is coming from the grey market premium (GMP). According to market trackers, Vikran Engineering shares are commanding a GMP of around ₹19.
- This translates to a ~20% premium over the upper price band.
- If sustained, it points to a possible listing gain of nearly 19.59%.
While the grey market is unofficial, it often reflects market sentiment ahead of listing.
Company at a Glance: Vikran Engineering
Vikran Engineering has built a reputation as a fast-growing EPC (Engineering, Procurement and Construction) firm. The company operates across power, water, and railway projects with expertise in:
- Conceptualisation and design
- Supply and installation
- Project execution across diverse sectors
Some highlights:
- Backed by well-known investors like Ashish Kacholia and Mukul Agrawal.
- Completed 45 projects across 14 states with a total contract value of ₹1,920 crore (as of June 30, 2025).
- Currently executing 44 projects across 16 states with an order book worth ₹5,120 crore.
Financial Snapshot
Numbers tell a clear story of consistent growth.
- Revenue from Operations: ₹916 crore in FY25, up 16.53% from ₹786 crore in FY24.
- Profit After Tax (PAT): ₹78 crore in FY25, compared to ₹75 crore in FY24 — a growth of 4%.
The company plans to use ₹541 crore from the fresh issue to fund working capital requirements. The balance will go towards general corporate purposes.
What’s Next?
The IPO closes on August 29. Share allotment is expected by September 1, with listing scheduled for September 3 on both BSE and NSE.
For Vikran Engineering, this IPO is more than a capital-raising exercise—it’s a milestone that reflects investor confidence in India’s infrastructure growth story. With a solid order book, strong financials, and backing from seasoned investors, the company has stepped into the public market on a strong footing.
Summary:
- IPO Size: ₹772 crore
- Price Band: ₹92–97
- Fully subscribed within 2 hours on Day 1
- Raised ₹231.6 crore from anchor investors
- GMP: ₹19 (~20% premium)
- Revenue FY25: ₹916 crore
- PAT FY25: ₹78 crore
- Ongoing projects worth ₹5,120 crore
- Listing Date: September 3
The Vikran Engineering IPO marks a crucial chapter for the company and offers a window into the rising investor interest in India’s infrastructure and EPC sector.
Easy & quick
Leave A Comment?