Vikran Engineering Limited IPO

Vikran Engineering Limited IPO

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹92 - ₹97

Total Issue

₹772.00 Cr

Bid Dates

26 Aug - 29 Aug

Subscription

23.59x

Est. GMP

₹7 (7.22%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Vikran Engineering is among the fastest-growing Indian Engineering, Procurement and Construction (EPC) players, recording revenue growth in FY23-25 ahead of industry and peer averages . It has executed projects for government bodies, PSUs, and private clients, delivering high-value outcomes with strong focus on operational excellence, efficiency, and compliance with stringent quality standards . Offering turnkey solutions from conceptualisation and design to supply, installation, testing, and commissioning, the company operates across diverse sectors including power, water, and railway infrastructure.

Lot Info

Lot Information for Vikran Engineering IPO
Category Lots Shares Amount
Retail (Min) 1 148 ₹14,356
Retail (Max) 13 1,924 ₹1,86,628
S-HNI (Min) 14 2,072 ₹2,00,984
S-HNI (Max) 69 10,212 ₹9,90,564
B-HNI (Min) 70 10,360 ₹10,04,920

Category Reservation

QIB 50%
NII 15%
Ret 35%
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹772.00 Cr
Fresh Issue
₹721.00 Cr (7.43 Cr Shares)
Offer For Sale
₹51.00 Cr (0.53 Cr Shares)

Objects of Issue

  1. Funding working capital requirements of our Company
  2. General corporate purposes

Grey Market Premium

GMP ₹7
Est. Price ₹104
Est. Gain 7.22%

Vikran Engineering IPO Peer Comparison

(Rs. in crores)

Vikran Engineering IPO Peer Comparison Table
Particulars Vikran Engineering Bajel Projects Kalpataru Projects Techno Electric SPML Infra KEC International Transrail Lighting
Revenue from Ops (in Crs.) 915.85 2,598.24 22,315.78 2,268.66 770.64 21,846.70 5,307.75
PAT (In Crs.) 77.82 15.46 567.27 422.95 47.93 570.74 326.63
EPS - Basic 4.35 1.34 35.53 37.19 7.61 21.80 25.72
NAV per share 25.49 57.63 378.80 321.55 107.43 200.88 140.11
RONW 16.63% 2.32% 8.77% 11.31% 6.22% 10.67% 17.36%
EBITDA 17.50% 2.28% 8.22% 12.98% 5.54% 6.88% 12.69%
PAT Margin 8.44% 0.59% 2.53% 17.42% 5.82% 2.60% 6.10%
Price to earning (PE) 22.30 158.75 34.68 40.17 36.79 35.71 30.73
Debt to Equity 0.58 0.18 0.65 0.01 0.48 0.69 0.34
  • All information pertains to FY 2024-25.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 14, 2025 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Vikran Engineering IPO
Particulars Mar-25 Mar-24 Mar-23 Mar-22
Revenue from Operations 915.85 785.95 524.31 474.21
Profit after Tax 77.82 74.83 42.84 6.59
Net Worth 467.87 291.28 131.14 89.21
Total Borrowing 272.94 183.39 154.92 118.71
Total Assets 1,354.68 959.79 712.47 479.87
NAV per share (in ₹) 25.49 17.20 8.85 6.02
EPS - Basic (in ₹) 4.35 4.92 2.89 0.45

KPIs

EBITDA

17.50%

PAT

8.44%

ROE

16.63%

ROCE

23.34%

Debt to Equity

0.58

PE Ratio

22.30

PB Ratio

3.81

  • All the data pertains to FY 2024-25
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

81.78%

Public

18.22%

Rakesh Ashok Markhedkar 59.02%
Nakul Markhedkar 7.24%
Other Promoters 15.51%

Management

Rakesh Ashok Markhedkar Chairman & MD
Ashish Bahety CFO

Registrar & Lead Managers

Registrar

Bigshare Services

Bigshare Services

Subscription Status

Updated as on 29-Aug-2025 19:00:00

Mainboard Subscription Status for Vikran Engineering IPO
Category Sub (x) Offered Bids
QIB 20.51 1,59,17,527 32,64,46,412
NII 61.77 1,19,38,144 73,73,70,484
bHNI 70.34 79,58,763 55,98,15,180
sHNI 44.62 39,79,381 17,75,55,304
Retail 11.56 2,78,55,670 32,21,02,612
Total 24.88 5,57,11,341 1,38,59,19,508

Frequently Asked Questions

What is Vikran Engineering IPO?
Vikran Engineering IPO is a Mainboard IPO having an issue size of ₹772.00 Crs. Vikran Engineering IPO is priced at ₹92 - ₹97 per share. The issue opens on 26 Aug 25 and closes on 29 Aug 25.
When will Vikran Engineering IPO open?
Vikran Engineering IPO opens on 26 Aug 25 and closes on 29 Aug 25.
What is the GMP of Vikran Engineering IPO?
The estimated Grey Market Premium of Vikran Engineering IPO is ₹7 per share (7.22%).
What is the lot size of Vikran Engineering IPO?
The minimum lot size of Vikran Engineering IPO is 148 shares & the minimum application amount is Rs. 14356.
When is the allotment of Vikran Engineering IPO?
The allotment date of Vikran Engineering IPO is 01 Sep 25.
What is the listing date of Vikran Engineering IPO?
The listing date of Vikran Engineering IPO is 03 Sep 25.
What is the subscription of Vikran Engineering IPO?
Vikran Engineering IPO is subscribed 23.59 times.
What is the price band of Vikran Engineering IPO?
Vikran Engineering IPO is priced at ₹92 - ₹97 per share.
How to check allotment status of Vikran Engineering IPO?
Click the allotment link on Vikran Engineering IPO page of IPO360.
How to apply Vikran Engineering IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Vikran Engineering IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Vikran Engineering IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Vikran Engineering IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date