Vikran Engineering IPO Details
The Vikran Engineering IPO is a book build issue with a total issue size of ₹772 cr, comprising of fresh issue of 74329896 equity shares., and a offer for sale of 5257731 equity shares. Vikran Engineering IPO opened for subscription on Aug 26, 2025 and closed on Aug 29, 2025. Vikran Engineering IPO is set price band at ₹92 to ₹97 per share, with a lot size of 148 shares. Minimum investment for Retail investors was ₹14,356.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Sep 01, 2025, and listed on both the NSE and BSE on Sep 03, 2025.
Bigshare Services Pvt Ltd has been appointed as the registrar. Pantomath Capital Advisors Pvt Ltd and Systematix Corporate Services Limited are the Book Running Lead Manager for the issue.
Before investing in the Vikran Engineering IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 92 – 97
- Lot Size
- 148
- Issue Size
- ₹772 Cr
- Minimum Investment
- ₹14356 (148 Shares)
- Listing Date
- 03 September 2025
Current GMP
₹7 (+7.22%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Vikran Engineering Limited
Vikran Engineering Limited is a fast-growing Indian Engineering, Procurement, and Construction (EPC) company, outpacing industry averages in revenue growth between FY23–FY25 (Source: CRISIL Report). Though smaller in revenue compared to listed peers, the company achieved an impressive revenue CAGR of 32.17%, growing from ₹5,243.05 million in FY23 to ₹9,158.47 million in FY25.
The company offers end-to-end EPC solutions—from design and supply to installation and commissioning—across key infrastructure sectors, with a major focus on energy and water infrastructure, and additional presence in railways.
Key Business Verticals
- Power Transmission & Distribution:
- Projects up to 765 kV (transmission lines) and 400 kV (substations – AIS and GIS).
- Smart metering (30,000 connections executed).
- Water Infrastructure:
- Includes surface and underground drinking water projects.
- Participates in large-scale government schemes like Jal Jeevan Mission and Har Ghar Jal Yojana.
- Currently handling 12 projects across Uttar Pradesh, Chhattisgarh, and Madhya Pradesh.
- Railway Infrastructure:
- Focused on electrification projects including 25kV OHE systems, 132 kV traction substations, and underground EHV cabling.
Performance Highlights (FY25)
- EBITDA Margin: 17.50% – Highest among peers.
- PAT Margin: 8.44% – Second highest.
- Return on Equity (ROE): Among the top performers.
- Completed 45 projects in 14 states with total contract value of ₹19,199.17 million.
- 44 ongoing projects across 16 states with total orders worth ₹51,202.07 million (₹24,424.39 million in active order book).
Clientele & Projects
Vikran Engineering works extensively with government and public sector undertakings, including:
- NTPC Limited
- Power Grid Corporation of India
- State electricity and water boards
- Eastern Central Railway (Danapur division)
Projects are secured through competitive bidding processes.
Core Strengths
- Strong in-house design and engineering capabilities.
- Proven track record of timely and early project execution.
- Operational efficiency and cost-effective delivery models.
Vikran Engineering IPO Promoters
- Rakesh Ashok Markhedkar
- Avinash Markhedkar
- Nakul Markhedkar
Promoters Holding
Holding Pre Issue
81.78%
Holding Post Issue
56.17%
Vikran Engineering IPO Objective
The Company Vikran Engineering IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding working capital requirements of the Company.
- General corporate purposes.
Address / Contact Info
Vikran Engineering Limited
401, Odyssey I.T. Park,
Road No. 9, Wagle Industrial Estate
Thane (W), Maharashtra
Thane, Maharashtra, 400604
Phone: +91-22-62638263
Email: companysecretary@vikrangroup.com
Website: https://www.vikrangroup.com/
IPO Snapshot
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
- Systematix Corporate Services Limited
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Vikran Engineering IPO is a Book-building IPO with a total issue size of ₹772 crore. The Vikran Engineering IPO price band is ₹92 to 97 per share. The Vikran Engineering IPO subscription opens on Tue, Aug 26, 2025, and closes on Fri, Aug 29, 2025. The Vikran Engineering IPO will be listed on the NSE,BSE. Bigshare Services Pvt Ltd is the registrar for the Vikran Engineering IPO.
The Vikran Engineering IPO opens on Tue, Aug 26, 2025 and closes on Fri, Aug 29, 2025
Vikran Engineering IPO Price Band is ₹92 to 97 per share.
Vikran Engineering IPO lot size is 148 shares, Retail investors need a minimum investment of ₹14356 based on the upper price band
The minimum investment for Vikran Engineering IPO is ₹14356, based on one lot of 148 shares at the upper price band of ₹97 per share.
Investors can apply for the Vikran Engineering IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Aug 29, 2025. The application amount remains blocked until the Vikran Engineering IPO allotment is finalized.
Vikran Engineering IPO issue size is ₹772 crores.
Vikran Engineering IPO allotment date is Wed, Jul 1, 2026.
The registrar for Vikran Engineering IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Vikran Engineering IPO allotment status, refund processing, and other IPO-related information.
The Vikran Engineering IPO GMP (Grey Market Premium) is ₹7 as of Wed, Sep 3, 2025. Based on the upper price band of ₹97 per share, the estimated Vikran Engineering IPO listing price is ₹104, indicating a potential listing gain of approximately 0% over the issue price.