Vikran Engineering GMP Today
Vikran Engineering’s IPO is witnessing strong interest in the grey market, where shares are trading at a 17% premium over the issue price of Rs 97. This translates to a premium of about Rs 16, suggesting a potential listing around Rs 113. The grey market premium (GMP), however, is unofficial and subject to change.
Vikran Engineering IPO Details
The public issue will open for subscription on August 26 and close on August 29. Investors can apply for a minimum of 148 equity shares and in multiples thereof.
The IPO will be conducted through the book-building route, with up to 50% of the offer allocated to Qualified Institutional Buyers (QIBs), at least 15% to Non-Institutional Investors (NIIs), and a minimum of 35% reserved for retail investors. The issue comprises a fresh share sale worth Rs 721 crore and an offer for sale (OFS) of Rs 51 crore.
Of the fresh issue proceeds, Rs 541 crore will be used to meet working capital requirements, while the balance will go towards general corporate purposes.
Vikran Engineering: Business Overview
Vikran Engineering is one of India’s fastest-growing engineering, procurement, and construction (EPC) companies, having delivered stronger revenue growth over FY23–25 than its industry peers, according to a CRISIL report.The company has a diversified project portfolio with a strong presence in energy and water infrastructure, along with railway and solar EPC segments. As of June 30, it had successfully executed 45 projects across 14 states, with a total contract value of Rs 1,920 crore.Currently, it is working on 44 projects across 16 states, with an aggregate order value of Rs 5,120 crore, which includes an order book worth Rs 2,442 crore.Vikran Engineering’s key government clients include NTPC, Power Grid Corporation of India, South Bihar Power Distribution, and North Bihar Power Distribution, among others. It is also executing projects for Assam Power Distribution Company and the Danapur division of East Central Railway.
Financially, the company posted a 16.5% rise in revenue, from Rs 786 crore in FY24 to Rs 916 crore in FY25. Profit after tax grew 4% during the same period to Rs 78 crore.
Pantomath Capital Advisors and Systematix Corporate Services are the book-running lead managers for the issue, while Bigshare Services is the registrar.
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