Investors are bidding on Vikran Engineering's initial public offering (IPO) as it is fully subscribed on the first day of subscription. The IPO opens for subscription at 10 am on Tuesday, August 26. The Thane-based EPC company’s IPO was subscribed by 1.01 times in the initial hours today of the share sale.
The Vikran Engineering IPO received bids for 5.93 crore shares against 5.87 crore 1.10x shares on offer as per the National Stock Exchange of India Ltd (NSE) data at around 12.30 pm. Qualified Institutional Buyers (QIBs) subscribed 19%, while the category for non-institutional investors received subscribed 1.89 times. The quota for Retail Individual Investors (RIIs) was subscribed 1.11 times.
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Earlier, the Vikran Engineering mobilised Rs 231.6-crore from anchor investors, according to the Money Control. The issue price of the IPO is Rs 772-crore opened for subscription on August 26 and will end on August 29, 2025. The Price band has been set at Rs 92-97 per share with 148 share per lot at the cut of price of Rs 14,356.
Vikran Engineering IPO GMP Price Today
Platforms tracking grey market activites indicate that Vikran Engineering's share is leading a GMP of nearly 20% in the grey market. The GMP quotation of Rs 19 for the share of the company indicates a listing gain of 19.59%.
About Vikran Engineering
The Maharashtra-based company will use the Rs 541 crore issued for funding working capital requirements and the rest for general corporate purposes. Vikran Engineering secured the backing of The Wealth Company and seasoned investors, such as Ashish Kacholia and Mukul Aggarwal, through a pre-IPO placement round.
As of June 30, 2025, the company completed 45 projects across 14 states with a total executed contract value of Rs 1,920 crore. It has 44 ongoing projects across 16 states, aggregating orders worth Rs 5,120 crore. The revenue of the company has gone up to 16.53% to Rs 916 crore in financial year 2025 from Rs 786 crore in the previous financial year, and profit after tax rose 4% to Rs 78 crore in fiscal 2025 from Rs 75 crore in FY24.