Bookbuilding IPO | ₹772 Cr | Listed at BSE, NSE | Tue, Aug 26, 2025 - Fri, Aug 29, 2025
Vikran Engineering IPO is a book build issue of ₹772.00 crores. The issue is a combination of fresh issue of 7.43 crore shares aggregating to ₹721.00 crores and offer for sale of 0.53 crore shares aggregating to ₹51.00 crores.
Vikran Engineering IPO bidding started from Aug 26, 2025 and ended on Aug 29, 2025. The allotment for Vikran Engineering IPO was finalized on Sep 1, 2025. The shares got listed on BSE, NSE on Sep 3, 2025.
Vikran Engineering IPO price band is set at ₹97 per share. The lot size for an application is 148. The minimum amount of investment required by an retail is ₹14,356 (148 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,072 shares), amounting to ₹2,00,984, and for bNII, it is 70 lots (10,360 shares), amounting to ₹10,04,920.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Vikran Engineering IPO RHP for detailed Information.
IPO Open
Tue, Aug 26, 2025
IPO Close
Fri, Aug 29, 2025
Issue Price
₹97 per share
Market Cap (Pre-IPO)
₹2,501.74 Cr
| IPO Date | 26 to 29 Aug, 2025 |
| Listed on | Wed, Sep 3, 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹92 to ₹97 |
| Issue Price | ₹97 per share |
| Lot Size | 148 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 7,95,87,627 shares (agg. up to ₹772 Cr) |
| Fresh Issue | 7,43,29,896 shares (agg. up to ₹721 Cr) |
| Offer for Sale | 52,57,731 shares of ₹1 (agg. up to ₹51 Cr) |
| Share Holding Pre Issue | 18,35,81,130 shares |
| Share Holding Post Issue | 25,79,11,026 shares |
| BSE Script Code / NSE Symbol | 544496 / VIKRAN |
| ISIN | INE01R501028 |
Vikran Engineering IPO offers total 7,95,87,627 shares. Out of which 3,97,93,812 (50.00%) allocated to QIB, 1,59,17,525 (20.00%) allocated to QIB (Ex- Anchor), 1,19,38,145 (15.00%) allocated to NII 2,78,55,670 (35.00%) allocated to RII and 2,38,76,287 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 3,97,93,812 (50.00%) | NA |
| − Anchor Investor Shares Offered | 2,38,76,287 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,59,17,525 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,19,38,145 (15.00%) | NA |
| − bNII > ₹10L | 79,58,764 (10.00%) | 3,841 |
| − sNII < ₹10L | 39,79,381 (5.00%) | 1,920 |
| Retail Shares Offered | 2,78,55,670 (35.00%) | 1,88,213 |
| Total Shares Offered | 7,95,87,627 (100.00%) |
Investors can bid for a minimum of 148 shares and in multiples thereof.
| Application | 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 |
Vikran Engineering IPO raises ₹231.60 crore from anchor investors. Vikran Engineering IPO Anchor bid date is August 25, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Aug 25, 2025 |
| Shares Offered | 2,38,76,287 |
| Anchor Portion (₹ Cr.) | 231.60 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Sep 30, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Nov 29, 2025 |
Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) company.
The company's projects include underground water distribution and surface water extraction, overhead tanks, and distribution networks.
Service Sectors:
As of June 30, 2025, the company has completed 45 projects across 14 states with a total executed contract value of Rs 19,199.17 million. As of June 30, 2025, they have 44 ongoing projects across 16 states, aggregating orders of Rs 51,202.07 million, of which the Order Book is Rs 24,424.39 million.
The company's clients in the government sector include NTPC Limited, Power Grid Corporation of India Limited, South Bihar Power Distribution Co. Ltd., North Bihar Power Distribution Co. Ltd., Transmission Corporation of Telangana Limited and more.
As of June 30, 2025, the company had 761 permanent employees.
Competitve Strengths:
Vikran Engineering Ltd.'s revenue increased by 17% and profit after tax (PAT) rose by 4% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 1,354.68 | 959.79 | 712.47 |
| Total Income | 922.36 | 791.44 | 529.18 |
| Profit After Tax | 77.82 | 74.83 | 42.84 |
| EBITDA | 160.24 | 133.30 | 79.71 |
| NET Worth | 467.87 | 291.28 | 131.14 |
| Reserves and Surplus | 449.52 | 290.95 | 130.85 |
| Total Borrowing | 272.94 | 183.39 | 154.92 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company. | 541.00 |
| 2 | General corporate purposes. | 129.97 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 16.63% |
| ROCE | 23.34% |
| Debt/Equity | 0.58 |
| RoNW | 16.63% |
| PAT Margin | 8.44% |
| EBITDA Margin | 17.50% |
| Price to Book Value | 3.81 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.24 | 3.02 |
| P/E (x) | 22.88 | 32.15 |
| Promoter Holding | 81.78% | 56.17% |
| Market Cap | ₹2,501.74 Cr. |
The Vikran Engineering IPO is subscribed 24.87 times on August 29, 2025 5:04:34 PM (Day 3). The public issue subscribed 11.56 times in the retail category, 20.51 times in the QIB category, and 61.77 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 20.51 | 1,59,17,527 | 32,64,46,412 |
| NII | 61.77 | 1,19,38,144 | 73,73,62,196 |
| bNII (bids above ₹10L) | 70.34 | 79,58,763 | 55,98,15,180 |
| sNII (bids below ₹10L) | 44.62 | 39,79,381 | 17,75,47,016 |
| Retail | 11.56 | 2,78,55,670 | 32,19,54,316 |
| Total | 24.87 | 5,57,11,341 | 1,38,57,62,924 |
Total Application : 19,62,621
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fixed fees payable to Book Running Lead Managers | 2.00 |
| 2 | Underwriting/Selling Commission to the BRLMs | 28.95 |
| 3 | Commission/processing fee for SCSBs, Sponsor Banks and fees payable to sponsor banks for bids made by RIBs, Bankers to the Offer, Brokerage and Syndicate Fees, bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 9.07 |
| 4 | Fees payable to the Registrar to the Offer | 0.29 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and SE processing fees, book building software fees and other regulatory expenses | 4.28 |
| 6 | Printing and distribution of stationery | 0.24 |
| 7 | Advertising and marketing expenses | 5.09 |
| 8 | Fees payable to legal counsel | 1.63 |
| 9 | Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, industry service provider and independent chartered accountant | 1.85 |
| 10 | Miscellaneous expenses | 0.18 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹97.00 | ₹97.00 |
| Open | ₹99.70 | ₹99.00 |
| Low | ₹93.26 | ₹93.26 |
| High | ₹101.73 | ₹101.77 |
| Last Trade | ₹95.64 | ₹95.71 |
Lead Manager Reports
Vikran Engineering IPO is a main-board IPO of 7,95,87,627 equity shares of the face value of ₹1 aggregating up to ₹772 Crores. The issue is priced at ₹97 per share. The minimum order quantity is 148.
The IPO opens on Tue, Aug 26, 2025, and closes on Fri, Aug 29, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Vikran Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Vikran Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vikran Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vikran Engineering IPO opens on Tue, Aug 26, 2025 and closes on Fri, Aug 29, 2025.
Vikran Engineering IPO lot size is 148, and the minimum amount required for application is ₹14,356.
You can apply in Vikran Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Vikran Engineering IPO will be done on Monday, September 1, 2025, and the allotted shares will be credited to your demat account by Tue, Sep 2, 2025. Check the Vikran Engineering IPO allotment status.
The Vikran Engineering IPO listing date is on Wed, Sep 3, 2025.
