Vikran Engineering Ltd IPO is opening from 26 August to 29 August 2025 with a price band of ₹92–₹97 per share. Know company details, IPO objective, dates, lot size, investor categories, financial statement, GMP trend, and a final conclusion with disclaimer.
Vikran Engineering Ltd is bringing its mainboard IPO to raise funds from the Indian market. The company works in the infrastructure sector and mainly focuses on power, water, and civil EPC projects. This IPO has already created good interest among investors because of its price band and anchor investor participation.
In this post, you will get complete details about the company, IPO size, price, lot, objective, GMP, and financial statement in simple words.
IN THIS ARTICLE
About Vikran Engineering Ltd.
- Type of business: Engineering, Procurement & Construction (EPC)
- Core focus: Power, water, and civil works
- Management team: Promoted by Rakesh Ashok Markhedkar and family members, who have years of experience in engineering projects
- Strengths: Strong execution capabilities, qualified team, and growing presence across different states of India
The company’s major clients include state utilities, municipal corporations, and infrastructure boards.
Vikran Engineering Ltd IPO Details
Here are the key details of the IPO in one place:
| Particular | Details |
|---|---|
| IPO Size | ₹772 crore |
| Fresh Issue | ₹721 crore |
| Offer for Sale (OFS) | ₹51 crore |
| Price Band | ₹92 – ₹97 per share |
| Lot Size | 148 shares |
| Minimum Retail Investment | ₹13,616 |
| Issue Type | Book Built, Mainboard |
| Exchange | NSE, BSE |
| Registrar | Bigshare Services Pvt. Ltd. |
IPO Objective
The company plans to use the IPO funds for:
- Working Capital Requirements – Around 75% of the fresh issue proceeds will go here. Since EPC projects are heavy on receivables and payments, this will help the company manage cash flow better.
- General Corporate Purposes – Around 25% of the fresh issue will be used for business expansion, administrative expenses, and strengthening the balance sheet.
This clearly shows the company is focused on improving liquidity and supporting future growth.
Vikran Engineering Ltd. IPO Dates
- Opening Date: 26 August 2025
- Closing Date: 29 August 2025
- Allotment Date: 1 September 2025
- Refunds & Credit to Demat: 2 September 2025
- Listing Date: 3 September 2025
IPO Lot Size & Investment
| Category | Lot(s) | Shares | Amount (Approx.) |
|---|---|---|---|
| Retail Minimum | 1 | 148 | ₹13,616 – ₹14,356 |
| Small HNI | 14 | 2,072 | ₹1.9 – 2.0 lakh |
| Big HNI | 70 | 10,360 | ₹9.7 – 10.0 lakh |
Investor Categories
- QIB (Qualified Institutional Buyers): Up to 50% of the issue
- NII (Non-Institutional Investors): Minimum 15% of the issue
- Retail Investors: Minimum 35% of the issue
The company has already raised around ₹232 crore from anchor investors, which shows market confidence.
Financial Statement (Highlights)
From the company’s reported numbers:
- Revenue Growth: About 17% year-on-year in FY25 compared to FY24.
- Profit After Tax (PAT): Growth of around 4% YoY.
- Working Capital: Heavy requirement, which is common in EPC projects.
| Financial Metric | FY24 | FY25 | Growth |
|---|---|---|---|
| Revenue | – | +17% | Positive |
| PAT | – | +4% | Moderate |
| Net Worth | Strong | Improved | Stable |
This shows that the company is growing steadily, though profit growth is slower compared to revenue growth.
GMP (Grey Market Premium)
The Grey Market Premium (GMP) of Vikran Engineering Ltd. IPO is reported around 17% – 23% above the issue price. On the opening day, GMP was seen at ~21%, which shows good interest from the market.
⚠️ Remember: GMP is unofficial and only indicates sentiment. It changes daily and does not guarantee listing gains.
Key Positives
- Presence in power and water infrastructure, which are high-demand sectors in India
- Strong anchor investor participation
- IPO money used for working capital, which supports execution
- Positive GMP trend shows good market sentiment
Key Risks
- EPC business depends heavily on government tenders
- Working capital cycle is long; payment delays may impact cash flow
- Profit growth is slower compared to revenue growth
Conclusion
The Vikran Engineering Ltd. IPO is attracting attention due to its presence in critical infrastructure sectors like power and water. The IPO dates are 26–29 August 2025, price band is ₹92–₹97, and the minimum lot size is 148 shares.
If you believe in India’s infrastructure growth story, this IPO may be worth considering. But keep in mind the risks of EPC business models and invest only after checking your risk appetite.
Disclaimer
This article is for information and education purposes only. It is not investment advice or a recommendation to apply in the IPO. Investors must read the RHP (Red Herring Prospectus) carefully and consult with a SEBI-registered financial advisor before making any investment decision. GMP is based on market reports and can change anytime.
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