Vikran Engineering IPO Allotment Date: Steps To Check Status, Latest GMP And Listing Date

The initial public offering (IPO) of Vikran Engineering Ltd. witnessed a strong demand from investors across categories on the last day of bidding on Friday. The mainboard IPO closed with an overall subscription of 23.59 times.

Vikran Engineering IPO received bids for more than 138.59 crore shares against 5.87 crore shares on offer on the third day on August 29, as per the NSE data. The IPO opened for bidding on August 26.

Among the various investor categories, the Qualified Institutional Buyers (QIBs) subscribed their category 19.45 times. The Non-Institutional Investors (NIIs) booked their quota 58.58 times, while the retail portion was subscribed 10.97 times.

The share allotment status for the Vikran Engineering IPO is scheduled to be finalised on Monday, September 1

Vikran Engineering IPO applicants can check their allotment status online through the BSE, NSE and the issue registrar, Bigshare Services.

• Visit the BSE IPO allotment page here - https://www.bseindia.com/investors/appli_check.aspx.

• Select ‘Equity’ as the issue type.

• From the dropdown menu, choose "Vikran Engineering Ltd."

• Enter your Application Number or PAN.

• Complete the Captcha verification.

• Click Search to view your allotment status.

• Visit the NSE IPO allotment page here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.

• Select ‘Equity & SME IPO bid details’.

• From the dropdown menu, choose the company symbol "VIKRAN".

• Enter your PAN and Application Number.

• Click Submit to view your allotment details.

• Go to the Bigshare Services IPO allotment page here - https://www.bigshareonline.com/ipo_allotment.html.

• Choose any one of the three available servers.

• From the company dropdown, select "Vikran Engineering Ltd."

• Enter your PAN, Application/CAF Number, or Beneficiary ID.

• Complete the Captcha verification.

• Click Search to view your allotment status.

The latest GMP for the Vikran Engineering IPO stood at Rs 6 at 9:00 a.m. on August 31. As per the latest GMP, shares of Vikran Engineering Ltd. are expected to be listed at Rs 103 apiece at a premium of 6.19% over the issue price.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

Vikran Engineering IPO listing date has been tentatively fixed as September 3. Shares of Vikran Engineering Ltd. will be listed on the NSE and BSE.

The company is expected to transfer shares to the Demat accounts and initiate refunds on September 2.

Vikran Engineering IPO was a book-building issue worth Rs 772 crore, comprising a fresh issuance of 7.43 crore shares, amounting to  Rs 721 crore, and an offer-for-sale (OFS) component of 53 lakh shares, worth Rs 51 crore. The IPO price band was fixed at Rs 92 to Rs 97 per share.

The company is expected to transfer shares to the Demat accounts and initiate refunds on Sept. 2.

Vikran Engineering Ltd., incorporated in 2008, is an engineering, procurement and construction (EPC) company. It specialises in power transmission and distribution projects, including extra-high voltage substations up to 400kV. The company also handles water infrastructure projects such as underground distribution, surface water extraction, overhead tanks and networks. Additionally, it provides services in railway infrastructure and is expanding into solar EPC projects.

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.