Vikran Engineering IPO Subscribed 5.24 Times On Day 2
Vikran Engineering Ltd. launched its initial public offering on Aug. 26.
Vikran Engineering Ltd.'s initial public offering was subscribed 5.24 times on the second day of subscription on Thursday.
The IPO was subscribed 2.38 times on its first day on Tuesday, led by demand from non-institutional and retail investors. The IPO consists of a fresh issue of up to Rs 721 crore and an offer for sale of Rs 51 crore.
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.
Pantomath Capital Advisors Pvt. Ltd. and Systematix Corporate Services Ltd. are managing the IPO.
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.
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
Subscription Status: Day Two
Vikran Engineering IPO was subscribed 5.24 times as of 5 p.m. on Thursday.
Qualified Institutions: 0.91 times
Non-Institutional Buyers: 11.03 times
Retail Investors: 5.23 times
IPO GMP
The grey market premium of Vikran Engineering was at Rs 9 as of 8:55 p.m. on InvestorGain. The GMP price indicated 9.28% listing gain as indicated by the implied listing price of Rs 106.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
