Vikran Engineering IPO On Day 2: GMP of Thane-Based Firm Rises to Rs 13; Check Other Details

The initial public offering (IPO) of Thane-based Vikran Engineering was subscribed 2.5 times on the opening day (August 26). The Grey Market Premium (GMP) of Vikran Engineering IPO suggests a positive listing of the stock. According to Investorgain.com, the GMP price rose to Rs 13 on day two of the IPO at 7.54 am on Thursday.

The Vikran Engineering IPO is witnessing an upward trend and is expected to be at Rs 110 on the listing day. The estimated gain or loss per share is likely to be 13.40%. According to data on the Investorgain portal, it has already touched the highest mark of Rs 21 per share. The IPO's price is forecasted depending on its share price in the unregulated market, although this is not official or authentic data to measure its demand among investors.

Vikran Engineering IPO Day 2 Subscription Status

According to the Groww, the share trading application and website, the Vikran Engineering IPO was subscribed by 3.15 times on National Stock Exchange (NSE) on the first day of opening. The public issue was subscribed by 3.09 time in the Retail Individual Investors (RIIs) category, 6.66 times in the Non-Institutional Investors (NII) category, and 0.62 times in the Qualified Institutional Buyers (QIBs) category.

One secondary of bidding, the Vikran Engineering IPO has so far been subscribed by over 3.13 as of 10.27 am. The retail investors subscribed 3.09 times, while NII portion has been booked 6.66 times and Qualified Institutional Buyers (QIBs) portion received 0.42 times.

According to the Bombay Stock Exchange (BSE) data, the Thane based company has received bids for 18,50,90,576 shares against 5,87,39,128 shares on offer. 

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Vikran Engineering IPO

Vikran Engineering IPO was launched on August 26 (Tuesday). The IPO consist of fresh shares worth Rs 721 crore and an offer-for-sale of Rs 51 crore. The price band is set at Rs 92 to 97 at the cut-off price. The minimum amount of investment required by a retail investor is Rs 13,616.

Investors can bid for a minimum of 148 shares and in multiples. The tentative date of allotment of shares to IPO investors is September 1, 2025. The Thane-based company will list on BSE and NSE on September 3.  

About Vikran Engineering

The company is located in Wagle Industrial Estate in Maharashtra's Thane district. Vikran Engineering is a fast-growing EPC (Engineering, Procurement and Construction) player. It provides turnkey solutions across power transmission and distribution, water infrastructure, railway electrification, metro projects and renewable energy.

IPO Details

IPO Date: 26 – 29 August, 2025

Price Band: Rs 92 – Rs 97

Lot Size: 148 shares

Face Value: Rs 1

Total Issue Size: Rs 772 crore

Fresh Issue: Rs 721 crore

OFS: Rs 51 crore