Vikran Engineering IPO
Vikran Engineering Ltd., a prominent player in the Engineering, Procurement, and Construction (EPC) sector, is poised for its stock market debut with an Initial Public Offering (IPO) valued at approximately ₹772 crore. The company has set a price band of ₹92 to ₹97 per equity share for its inaugural share sale.
The subscription window for investors will open on Tuesday, August 26, 2025, and run for four days, closing on Friday, August 29, 2025. Following the IPO, the company’s shares are slated to be listed on both the NSE and BSE, with a tentative listing date of September 3, 2025.
Vikran Engineering IPO Details
The public offering is a strategic mix of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue, expected to raise ₹721 crore, will inject new capital directly into the company. Vikran Engineering has outlined a clear use for these proceeds, with a substantial ₹541 crore designated to fortify its working capital. This infusion is aimed at supporting the company’s expanding project pipeline and operational scale. The balance of the funds will be allocated for general corporate purposes.
The OFS portion involves the sale of shares worth ₹51 crore by the company’s existing shareholders.
The company’s solid financial trajectory underscores its need for enhanced working capital. For the fiscal year ending March 31, 2025, Vikran Engineering recorded a total income of ₹922.36 crore, a significant jump from ₹791.44 crore in the previous year. Its Profit After Tax (PAT) also grew to ₹77.82 crore in the same period.
Vikran Engineering IPO Participation Details
The IPO structure has been designed to ensure broad participation. A minimum of 35% of the issue is reserved for Retail Individual Investors (RII), with Non-Institutional Investors (NII) allocated at least 15%, and Qualified Institutional Buyers (QIBs) eligible for up to 50%.
For retail investors, the entry point for bidding is a single lot of 148 shares. At the upper end of the price band (₹97), this translates to a minimum investment of ₹14,356.
The IPO timeline is structured for a swift process, with the finalization of share allotment expected by September 1, 2025, and the shares credited to the Demat accounts of successful applicants by September 2, 2025.
Pantomath Capital Advisors Pvt. Ltd. is steering the issue as the book-running lead manager, while Bigshare Services Pvt. Ltd. will serve as the official registrar, managing the allotment and refund processes. The promoters, including Rakesh Ashok Markhedkar, Avinash Markhedkar, and Nakul Markhedkar, currently hold an 81.78% stake in the company, which will see a dilution post-IPO.