Vikran Engineering IPO: Check IPO Date, Live Subscription and Key Details
Vikran Engineering Limited, incorporated in 2008, is a prominent Engineering, Procurement, and Construction (EPC) company specializing in large-scale infrastructure projects. The company's expertise spans key sectors, including Power Transmission & Distribution (up to 400 kV substations), Water Infrastructure (underground distribution systems and networks), Railway Infrastructure, and Solar Energy (EPC projects). As of August 31, 2024, the company had completed 44 projects and had 34 ongoing projects across 17 states, with a robust order book of ₹19,557.00 million. It primarily serves government and public sector clients like NTPC and Power Grid Corporation. With a pan-India presence and 195 sites and store locations, Vikran Engineering offers tailored EPC solutions to meet diverse client needs.
Price Range
₹92.00-97.00
Issue Size
₹772 Cr
Lot Size
148 shares
IPO Type
Mainboard
GMP
₹6.5(+6.70%)
Est. Listing Price
₹103.5
Estimate Profit
₹962
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹1
EPS
3.02
P/E Ratio
32.15
RoNW
16.63%
ROE
16.63%
Debt to Equity
0.58
Advertisement
Timeline
IPO Opens
26 Aug
IPO Closes
29 Aug
Allotment
1 Sept
Listing
3 Sept
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 26 August 2025 | Subscription starts |
| IPO Close Date | 29 August 2025 | Subscription ends |
| Allotment Date | 1 September 2025 | Allotment |
| Listing Date | 3 September 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,356 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,86,628 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,00,984 |
SHNI (Max)Below ₹10,00,000 | 69 | ₹9,90,564 |
BHNIAbove ₹10,00,000 | 70 | ₹10,04,920 |
IPO Objectives
- Funding working capital requirements of the Company.
- General corporate purposes.
Strengths
- The company is one of the fastest-growing EPC firms with a diversified order book of over ₹19,557 million, providing clear revenue visibility across power, water, and railway projects.
- It has a pan-India presence with 195 sites and a strong supply chain, enabling it to provide tailored solutions and execute projects across the country.
- The business has strong in-house technical and engineering capabilities, which ensures efficient project execution and high-quality standards.
- The company has a proven track record of consistent financial growth, with a 17% increase in revenue between FY24 and FY25.
- It has strong relationships with government and public sector clients, like NTPC, which provides a stable pipeline of projects.
Weaknesses
- The business is very working capital intensive, with a significant portion of the IPO money (₹541 crore) being used to meet daily operational needs, indicating a potential strain on cash flow.
- There's a concern about slow profit growth (only 4%) compared to revenue growth (17%), which suggests the company may be facing margin pressures or rising costs.
- The high reliance on government and public sector clients makes the company vulnerable to policy changes, budget cuts, and delays in project payments.
- The business is subject to project execution risks, including the potential for delays, cost overruns, and unforeseen technical challenges that could impact its performance.
- The IPO includes an Offer for Sale (OFS) component, which means some of the proceeds will go to existing shareholders instead of being invested directly into the company for growth.
Advertisement
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 1,354.68 | 959.79 | 712.47 |
| Revenue (₹ Cr.) | 922.36 | 791.44 | 529.18 |
| PAT (₹ Cr.) | 77.82 | 74.83 | 42.84 |
| Net Worth (₹ Cr.) | 467.87 | 291.28 | 131.14 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Vikran Engineering | 3.81 | 32.15 | 16.63% | 467.87 |
| Bajel Projects Limited | 3.49 | 179.42 | 2.32% | 666 |
| Kalpataru Projects | 3.31 | 30.47 | 8.99% | 6,469 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.43x | 0.96x | 20.51x |
| NII | 5.43x | 11.63x | 61.77x |
| S-HNI | 4.78x | 11.52x | 44.62x |
| B-HNI | 5.76x | 11.68x | 70.34x |
| RII | 2.44x | 5.52x | 11.56x |
| Total | 2.51x | 5.52x | 24.87x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,59,17,527 | 32,64,46,412 | 3,166.53 |
| NII | 1,19,38,144 | 73,73,62,196 | 7,152.41 |
| Small NII | 39,79,381 | 17,75,47,016 | 1,722.21 |
| Big NII | 79,58,763 | 55,98,15,180 | 5,430.21 |
| RII | 2,78,55,670 | 32,19,54,316 | 3,122.96 |
| Total | 5,57,11,341 | 1,38,57,62,924 | 13,441.9 |
Advertisement
Company Details
- Vikran Engineering Ltd.
- 401, Odyssey I.T. Park, Road No. 9, Wagle Industrial Estate, Thane (W), Maharashtra, Thane, Maharashtra-400604
- +91-22-62638263
- companysecretary@vikrangroup.com
- https://www.vikrangroup.com/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html
Loading comments...