Vikran Engineering IPO GMP Live: What Grey Market Signals Ahead On Final Day Of Subscription
Investors can expect an estimated gain of up to 12% when the shares list on the stock market next week.
The initial public offerings (IPO) of Vikran Engineering Ltd., which opened for subscription on August 26 and was fully booked on its opening day, will conclude its subscription period today, August 29.
The mainboard issue was subscribed 5.24 times on Thursday, as per the NSE data. The mainboard issue received bids for 30,76,74,240 shares against 5,87,39,128 shares on offer.
Here’s a look at the latest grey market premium (GMP), Day 3 subscription status and other key details of Vikran Engineering IPO.
Vikran Engineering IPO GMP Live; Day 3 Subscription Status
The latest GMP for Vikran Engineering IPO stood at Rs 12 as of 10:00 a.m. on August 29. Based on the upper end of the price band of Rs 97, the stock is projected to be listed at Rs 109 apiece. This translates into an expected listing gain of about 12.37% per share.
The IPO of Vikran Engineering was subscribed 7.45 times as of 11:12 a.m. on Friday.
Qualified Institutional Buyers(QIBs): 0.95 times
Non-Institutional Investors: 17.81 times
Retail Individual Investors(RIIs): 6.71 times
IPO Details:
Issue Type: Book-built issue
Issue Size: Rs 772 crore.
Offer Details: Fresh issue of 7.43 crore shares, aggregating to Rs 721 crore, and an offer-for-sale (OFS) of 53 lakh shares, amounting to Rs 51 crore.
Price Band: Rs 92 and Rs 97 per share.
Lot Size: 148 shares, requiring a minimum investment of Rs 14,356 for retail investors.
Vikran Engineering IPO Allotment And Listing Date
The share allotment status for Vikran Engineering IPO will be finalised on Monday, September 1.
Shares of Vikran Engineering Ltd. will be listed on the BSE and NSE on Wednesday, September 3.
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.
Note: GMP does not represent official data and is based on speculation. GMP Data as per InvestorGain.
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.
