Vikran Engineering Limited IPO
MainboardCivil Construction
Listed On: Sep 3, 2025 at ₹ 99.0(NSE)
₹ 14356 /148 Shares
Check AllotmentPrice Summary
Last Closing
106.69 (9.99%)52 Week High
108.8052 Week Low
91.70Last Update
12-Sep-2025 3:30 PMVikran Engineering IPO Live Subscription Details
Bids below ₹10L: 42.32x
NII Total: 58.58
26 Aug, 2025
Open Date29 Aug, 2025
Close Date01 Sep, 2025
Allotment Date03 Sep, 2025
Listing DateIssue Price
₹92-97 per equity shareFace Value
₹1 Per Equity ShareListing at Group
BSE, NSERegistrar
Bigshare Services Pvt LtdList Price
99.0(NSE)Listing Date
2025-09-03Market Lot
Retail : 148 Shares (₹14,356/-)S-HNI : 2,072 Shares (₹2,00,984/-)
B-HNI : 10,360 Shares (₹10,04,920/-)
Lead Manager
Pantomath Capital Advisors Pvt LtdSystematix Corporate Services Limited
Issue Size
Total 772.00 Cr :#Fresh Issue : 7,43,29,896 shares(aggregating up to ₹721.00 Cr) +
#OFS : 52,57,731 shares of ₹1(aggregating up to ₹51.00 Cr)
Retail Portion
35% (Number of Retail Applications: 1,88,214 Approx),(Number of S-HNI Applications : 1,921 Approx),
(Number of B-HNI Applications : 3,841 Approx)
Subscription
23.56 timesVikran Engineering IPO Details
Vikran Engineering IPO is a book-built issue of ₹772 crores, The total issue size is ₹772 crores. The IPO of Vikran Engineering is priced at ₹92-97 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Aug 26, 2025 and ends on Aug 29, 2025. The allotment for Vikran Engineering IPO will be finalized on Sep 1, 2025. Vikran Engineering IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 3, 2025. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.
Retail investors can bid for a minimum of 148 shares, extendable to 14,356. S-HNIs will be able to bid for 2,072 shares at ₹2,00,984, while B-HNIs can also apply for a bid of 10,360 shares at ₹10,04,920. The book-running lead manager for the IPO is/are Pantomath Capital Advisors Pvt Ltd , Systematix Corporate Services Limited.
The total issue ₹772 crore, comprising a fresh issue of 7,43,29,896 shares ₹721 crore and an Offer for Sale (OFS) of 52,57,731 shares to mop up ₹51 crore.
The Vikran Engineering IPO sets its price band at 92-97 for each share. A single application for Vikran Engineering Limited IPO must contain at least 148 shares. Sentiment investors need to invest a minimum of 148 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,356 In order to participate in the sNII, investors must purchase at least 14 lots of 2,072 shares for ₹2,00,984, while the bNII requires 70 lots of 10,360 shares for an investment of ₹10,04,920.
Vikran Engineering IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 3,97,93,814 | 1,19,38,144 79,58,763 39,79,381 | 2,78,55,670 | 5,57,11,341 |
| Day 1 - 26-08-25 05:00 PM | 0.41 x | 5.15 5.47 x 4.53 x | 2.32 x | 2.38 x |
| Day 2 - 28-08-25 05:00 PM | 0.91 x | 11.03 11.08 x 10.93 x | 5.23 x | 5.24 x |
| Day 3 - 29-08-25 05:00 PM | 19.45 x | 58.56 66.71 x 42.25 x | 10.91 x | 23.56 x |
Vikran Engineering Valuations
EPS Pre IPO
₹4.24/-EPS Post IPO
₹3.02/-P/E Pre IPO
22.88P/E Post IPO
32.15ROE
16.63%ROCE
23.34%Debt/Equity
0.58RoNW
16.63%PAT Margin
8.44%Price to Book Value
3.81Vikran Engineering Company Financials All values are in ₹ Cr.
| 31-Mar-25 | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|
| Assets | 1,354.68 | 959.79 | 712.47 |
| Revenue | 922.36 | 791.44 | 529.18 |
| Profit After Tax | 77.82 | 74.83 | 42.84 |
| Net Worth | 467.87 | 291.28 | 131.14 |
| Reserves & Surplus | 449.52 | 290.95 | 130.85 |
| Total Borrowing | 272.94 | 183.39 | 154.92 |
About The Company
Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) entity.The projects of the company include underground water distribution and surface water extraction, overhead tanks, and distribution networks.
Service Sectors:
Power Transmission and Distribution: Experts in extra-high voltage (EHV) substations up to 400kV and integrated power distribution solutions.
Water Infrastructure: Involved in underground water distribution, surface water extraction, overhead tanks, and distribution network projects.
Railway Infrastructure: Offering services in railway infrastructure projects.
Solar Energy: Increasing presence in solar EPC projects.
As of August 31, 2024, we have executed 44 projects in 11 states with a total executed contract value of Rs 18,958.14 million. As of August 31, 2024, we have 34 projects under execution in 17 states, aggregating orders of Rs 39,570.55 million, of which the Order Book is Rs 19,557.00 million.
The clients of the company in the government industry are NTPC Limited, Power Grid Corporation of India Limited, South Bihar Power Distribution Co. Ltd., North Bihar Power Distribution Co. Ltd., Transmission Corporation of Telangana Limited and others.
The company has pan-India operations backed by 195 sites and store locations up to August 31, 2024. The company provide a variety of EPC services that meet the individual requirements of our customers pan-India.
Vikran Engineering - Strength and Weakness
Successfully completed 44 projects across 11 states with ₹1,895.81 Crores value.
Strong order book of ₹2,114.80 Crores as of March 31, 2024.
Built 10 EHV substations up to 765kV, showcasing technical expertise.
The asset-light model ensures lower fixed costs and efficient project execution.
Delays in project completion may hurt business prospects and financial performance.
Heavy reliance on government tenders; policy changes could impact operations.
Significant revenue from key customers increases dependency and business risk.
Vikran Engineering - Promoter(s)
Pre Issue Share Holding: 81.78%
- Rakesh Ashok Markhedkar
- Avinash Markhedkar
- Nakul Markhedkar
Vikran Engineering IPO - Issue Objectives
- Funding working capital requirements of the Company.
- General corporate purposes.
Vikran Engineering IPO - Anchor Investors
Bank of India Mutual Fund, ITI Mutual Fund, Nippon India, LC Pharos Multi Strategy Fund, SBI General Insurance Company, Samco Mutual Fund, 360 ONE, IMAP India, and Societe Generale were few among the 13 investors who put in their bids during the anchor book.
Other Details
Vikran Engineering
401, Odyssey I.T. Park,, Road No. 9, Wagle Industrial Estate, Thane (W) – 400604Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Vikran Engineering IPO - FAQs
Ans. Vikran Engineering Limited IPO is a Mainboard IPO. The issue is priced at ₹92-97 per equity share. The minimum order quantity is 148 Shares. The IPO opens on Aug 26, 2025, and closes on Aug 29, 2025. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Ans. The Vikran Engineering Limited IPO opens on Aug 26, 2025 and closes on Aug 29, 2025.
Ans. The size of Vikran Engineering Limited IPO is Total 772.00 Cr : #Fresh Issue : 7,43,29,896 shares(aggregating up to ₹721.00 Cr) + #OFS : 52,57,731 shares of ₹1(aggregating up to ₹51.00 Cr).
Ans. The IPO price band is set between ₹92-97 per equity share.
Ans. To apply for Vikran Engineering Limited IPO IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Vikran Engineering Limited IPO in the List of IPOs
- - Press "Apply" Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Vikran Engineering Limited IPO is Sep 1, 2025.
Ans. The Vikran Engineering Limited IPO will be listed on Sep 3, 2025.
Ans. Follow the steps to check the allotment status for Vikran Engineering Limited IPO here.
