Vikran Engineering Sets IPO Price Band At Rs 92–97

Vikran Engineering Ltd. has set the price band for initial public offer was set at Rs 92 to Rs 97 apiece. Its IPO is set open on Aug 26 and close on Aug 29.

Vikran Engineering's IPO consists of a fresh issue of up to Rs 721 crore and an offer-for-sale of Rs 51 crore.

The company 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.

The issue will open on Aug 26 and conclude on Aug 29. The tentative allotment and listing dates are Sep 1 and Sep 3.

Rakesh Ashok Markhedkar, Avinash Markhedkar and Nakul Markhedkar are the company promoters. Among these people, Chairman and Managing Director Markhedkar is the sole promoter offloading shares via the offer for sales route.

Pantomath Capital Advisors Pvt. Ltd. and Systematix Corporate Services Ltd. are managing the initial public offer.

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.