Vikran Engineering Announces IPO: Price Band Set at Rs 92-97 per Share
Vikran Engineering Ltd., a Mumbai-based company specializing in end-to-end engineering services, has announced its Initial Public Offering (IPO) with a price band of Rs 92-97 per share. The IPO, opening on August 26 and closing on August 29, comprises a fresh issue of shares worth up to Rs 721.00 crore and an offer-for-sale of Rs 51.00 crore. The company plans to use Rs 541.00 crore for working capital requirements and the rest for general corporate purposes. Vikran Engineering focuses on power, water, and railway infrastructure, serving clients like NTPC Ltd., Power Grid Corp., and Eastern Central Railway.
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Vikran Engineering Ltd., a Mumbai-based company specializing in end-to-end engineering services, has announced its Initial Public Offering (IPO) with a price band of Rs 92-97 per share. The IPO is scheduled to open on August 26 and close on August 29, offering investors a window to participate in the company's public listing.
IPO Details
The IPO comprises two components:
- A fresh issue of shares worth up to Rs 721.00 crore
- An offer-for-sale (OFS) of Rs 51.00 crore
Use of Proceeds
Vikran Engineering has outlined its plans for utilizing the funds raised through the fresh issue:
- Rs 541.00 crore will be allocated for working capital requirements for fiscal years 2025 and 2026
- The remaining amount will be used for general corporate purposes
Key Dates
| Event | Date |
|---|---|
| IPO Opening Date | August 26 |
| IPO Closing Date | August 29 |
| Tentative Allotment Date | September 1 |
| Expected Listing Date | September 3 |
Company Overview
Vikran Engineering Ltd. is a prominent player in the engineering services sector, focusing on power, water, and railway infrastructure. The company serves a diverse clientele, including notable names such as:
- NTPC Ltd.
- Power Grid Corp.
- Eastern Central Railway
Management and Promoter Participation
Rakesh Ashok Markhedkar, the Chairman and Managing Director of Vikran Engineering, is the sole promoter participating in the offer-for-sale component of the IPO.
Investor Considerations
Potential investors should note that this IPO presents an opportunity to invest in a company with a strong presence in critical infrastructure sectors. However, as with all investments, it is advisable to carefully review the company's financials, growth prospects, and risk factors before making an investment decision.
The IPO's price band and the company's focus on essential sectors like power, water, and railway infrastructure may attract investor interest. The allocation of a significant portion of the proceeds towards working capital requirements suggests that Vikran Engineering is positioning itself for potential growth and expansion in the coming years.
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