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Vikran Engineering IPO opens Aug 26 and closes Aug 29 with a Rs 772 crore issue size
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Price band fixed between Rs 92 and Rs 97 per share with minimum bid of 148 shares
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IPO proceeds will fund Rs 541 crore in working capital and general corporate purposes
Vikran Engineering Ltd. will launch its initial public offering on Tuesday to sell shares worth up to Rs 772 crore.
The IPO consists of a fresh issue of up to Rs 721 crore and an offer-for-sale of Rs 51 crore. The issue will open on Aug. 26 and conclude on Aug. 29.
The price band is set at Rs 92 to Rs 97 apiece. The minimum amount of investment required by a retail investor is Rs 13,616. Investors can bid for a minimum of 148 shares and in multiples thereof.
The tentative date of allotment of shares to IPO investors is Sept. 1. Vikran Engineering will list on the BSE and NSE on Sept. 3.
Chairman and Managing Director Markhedkar Rakesh Ashok Markhedkar is the sole promoter offloading shares each via the OFS route.
Pantomath Capital Advisors Pvt. Ltd. and Systematix Corporate Services Ltd. are managing the IPO.
Vikran Engineering had originally applied for an IPO of Rs 1,000 crore in October last year.
About Vikran Engineering
Mumbai-based Vikran Engineering provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis. It has presence across multiple sectors, including power, water, and railway infrastructure.
Notable clients include NTPC Ltd., Power Grid Corp., and Eastern Central Railway.
The company is backed by pre-IPO investors such as Pantomath Group affiliate India Inflection Opportunity Fund and ace investor Ashish Kacholia, among others.
IPO Details
Open date: Aug. 26
Close date: Aug. 29
Allotment date: Sept. 1
Listing date: Sept. 3
IPO size: Rs 772 crore
Fresh issue: 7.43 crore shares aggregating to Rs 721 crore.
OFS: 0.53 crore shares aggregating to Rs 51 crore.
Minimum bid: Lot size of 148 shares
Financials
In the financial year 2025, revenue from operations rose over 16% year-on-year to Rs 916 crore, and net profit rose 4% to Rs 78 crore. On the operating front, Ebitda rose 20% to Rs 160 crore and margin expanded to 17.5% from 16.96%.
Power transmission and distribution contributed to nearly 73% of the total revenue of Vikran Engineering in FY25, and water infrastructure's share was 27%.
As of June 30, the company has completed 45 projects across 14 states with a total executed contract value of Rs 1,919 crore. It has 44 ongoing projects across 16 states, aggregating orders of Rs 5,120 crore.
Use Of Proceeds
Vikran Engineering intends to use the proceeds from the fresh issue to the extent of Rs 541 crore for funding working capital requirements for fiscal 2025 and 2026. The rest will be deployed for general corporate purposes.
Vikran Engineering IPO GM
According to InvestorGain, the latest grey market premium (GMP) for Vikran Engineering IPO stood at Rs 18 per share. Based on the upper end of the IPO price band of Rs 97, the latest GMP reflects an estimated listing price of Rs 115 per share, implying a potential gain of around 18% per share.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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