Vikran Engineering IPO Day 3: Thane-Based Company's Initial Public Offering Subscribed 20 Times on Last Day; Check GMP

The Initial Public Offering (IPO) of Vikran Engineering, a Thane-based EPC company focused on energy and water infrastructure, was subscribed by twenty times on the third and last day of share sale on August 29. According to NSE data at around 3 pm today, Vikran Engineering IPO got bids for 114 crore shares against 5.87 crore shares on offer.

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The non-institutional investors subscribed 52 times, whiel the quota for Retail Individual Investors (RIIs) got subscribed 10 times. Qualified Institutional Buyers (QIBs) part received 12 times subscription.

Vikran Engineering IPO GMP

The shares of Vikran Engineering are trending in the Grey Market Premium (GMP). The GMP of Vikran Engineering was of 12% for the shares of the company. Investorgain quoted a GMP of Rs 6 for the shares of the company, indicating a listing gain of 6.19%.

About Vikran Engineering IPO

Vikran Engineering IPO had set the price band at Rs 92-97 per share. The company to utilised proceeds from the fresh issue to the tune of Rs 541 crore for funding working capital requirements and the rest for general corporate purposes. 

Vikran Engineering shares will be listed on BSE and NSE on September 3, while the allotment is on September 1.