Vikran Engineering IPO Listing: Vikran Engineering shares made a muted debut on the bourses on Wednesday, September 3, listing at 99 on NSE, a premium of just 2.06 per cent to their issue price of ₹97. Meanwhile, on BSE, it listed at ₹99.70, up 2.78 per cent from issue price.
The Vikran Engineering IPO garnered overwhelming interest from investors, closing with a total subscription of 24.87 times. During the subscription period from August 26 to August 29, 2025, the issue attracted 138.57 crore bids against the 5.57 crore shares on offer.
Breaking down by investor category, the retail segment recorded an impressive subscription of 11.56 times. Non-institutional investors (NIIs) showed exceptionally strong demand, subscribing 61.77 times, while the qualified institutional buyers (QIBs) quota was subscribed 20.51 times.
Vikran Engineering IPO Details
Vikran Engineering successfully raised ₹772 crore through its recent public issue, which consisted of a fresh issue of 7.43 crore shares worth ₹721 crore and an offer for sale of 0.53 crore shares valued at ₹51 crore. The funds mobilised from the IPO are intended to support the company’s working capital needs and general corporate purposes.
The issue was priced in the band of ₹92 to ₹97 per share, with a lot size of 1,200 shares. Retail investors were able to participate with a minimum investment of ₹13,616.
Ahead of the public issue, Vikran Engineering garnered ₹231.60 crore from anchor investors on August 25, 2025. Pantomath Capital Advisors Pvt. Ltd. served as the book running lead manager for the IPO, while Bigshare Services Pvt. Ltd. acted as the registrar.
About Vikran Engineering
Founded in 2008, Vikran Engineering Limited is a prominent EPC (Engineering, Procurement, and Construction) company with a diversified portfolio spanning power transmission, water infrastructure, railway, and solar energy projects. The company offers comprehensive solutions, including underground water distribution, surface water extraction, overhead tanks, and distribution networks, while also specialising in extra-high voltage substations of up to 400kV.
As of June 30, 2025, Vikran Engineering had successfully executed 45 projects across 14 states, with a cumulative value of ₹19,199.17 million. Its ongoing work comprises 44 projects with an order book worth ₹24,424.39 million. The company’s key clients include major government and public sector entities such as NTPC, Power Grid Corporation of India, and various state utilities.
Financially, the company reported a revenue from operations of ₹915.84 crore in FY2024-25, reflecting a 16.52 percent increase from ₹785.94 crore in the previous fiscal year. Net profit rose to ₹77.81 crore, up 3.98 percent from ₹74.83 crore in FY2023-24, underlining steady growth and operational resilience.
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