Vikran Engineering Sets IPO Price Band At Rs 92–97
Vikran Engineering's IPO consists of a fresh issue of up to Rs 900 crore and an offer-for-sale of Rs 100 crore, according to the draft red herring prospectus.
Vikran Engineering Ltd. has set the price band for initial public offer at Rs 92–97 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 900 crore and an offer-for-sale of Rs 100 crore, according to the draft red herring prospectus.
The company intends to use the proceeds from the fresh issue for funding working capital requirements for fiscal 2025 and 2026. The rest will be deployed for general corporate purposes.
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.
