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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 ₹97.00 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 Date | August 26, 2025 to August 29, 2025 |
| Listing Date | September 3, 2025 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹92 to ₹97 per share |
| Issue Price Final | ₹97 per share |
| Lot Size | 148 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 7,95,87,627 shares (aggregating up to ₹772.00 Cr) |
| Fresh Issue | 7,43,29,896 shares (aggregating up to ₹721.00 Cr) |
| Offer for Sale | 52,57,731 shares of ₹1 (aggregating up to ₹51.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 18,35,81,130 shares |
| Share Holding Post Issue | 25,79,11,026 shares |
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 | Maximum 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%) |
Vikran Engineering IPO raises ₹231.60 crore from anchor investors. Vikran Engineering IPO Anchor bid date is August 25, 2025. Vikran Engineering IPO Anchor Investors list
| Bid Date | August 25, 2025 |
| Shares Offered | 2,38,76,287 |
| Anchor Portion Size (In Cr.) | 231.60 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 30, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 29, 2025 |
Vikran Engineering IPO opens on August 26, 2025, and closes on August 29, 2025.
| IPO Open Date | Tue, Aug 26, 2025 |
| IPO Close Date | Fri, Aug 29, 2025 |
| Tentative Allotment | Mon, Sep 1, 2025 |
| Initiation of Refunds | Tue, Sep 2, 2025 |
| Credit of Shares to Demat | Tue, Sep 2, 2025 |
| Tentative Listing Date | Wed, Sep 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Aug 29, 2025 |
Investors can bid for a minimum of 148 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 market capitalization of Vikran Engineering IPO is ₹2501.74 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 Rs | 4.24 | 3.02 |
| P/E (x) | 22.88 | 32.15 |
The Company Vikran Engineering IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding working capital requirements of the Company. | 541.00 |
| 2 | General corporate purposes. | 129.97 |
[Dilip Davda] VEL is fastest growing Indian EPC, posted CAGR of 32.17% revenue growth. It has diversified portfolio of projects with end-to-end services linked. The company posted growth in its top and bottom lines for the reported periods. It has an order book worth Rs. 2442+ cr. as of June 30, 2025. Based on its recent financial data, the issue appears fully priced. Investors may park funds for medium to long term. Read detail review...
| Listing Date | September 3, 2025 |
| BSE Script Code | 544496 |
| NSE Symbol | VIKRAN |
| ISIN | INE01R501028 |
| Final Issue Price | ₹97 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Vikran Engineering Ltd.
401, Odyssey I.T. Park,
Road No. 9, Wagle Industrial Estate
Thane (W), Maharashtra
Thane, Maharashtra, 400604
Phone: +91-22-62638263
Email: companysecretary@vikrangroup.com
Website: https://www.vikrangroup.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vikran Engineering IPO is a main-board IPO of 7,95,87,627 equity shares of the face value of ₹1 aggregating up to ₹772.00 Crores. The issue is priced at ₹97 per share. The minimum order quantity is 148.
The IPO opens on August 26, 2025, and closes on August 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 August 26, 2025 and closes on August 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 Tuesday, September 2, 2025. Check the Vikran Engineering IPO allotment status.
The Vikran Engineering IPO listing date is on Wednesday, September 3, 2025.
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