Vikran Engineering Announces IPO with Price Band of ₹92-97, 23% Grey Market Premium
Vikran Engineering, an EPC firm, announces its IPO with a price band of ₹92-97 per share, set to open from August 26 to 29. The offering includes a fresh issue of ₹721 crore and an offer for sale of ₹51 crore. The company plans to use ₹541 crore for working capital. Vikran has completed 45 projects across 14 states, with 44 ongoing projects worth ₹5,120 crore. Clients include NTPC and Power Grid Corporation. The company's revenue grew by 16.54% to ₹916 crore in FY25, with a 4% increase in profit after tax to ₹78 crore.

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Vikran Engineering, a prominent player in the engineering, procurement, and construction (EPC) sector, has set the stage for its initial public offering (IPO) with an attractive price band and a notable grey market premium.
IPO Details
- Price Band: ₹92 to ₹97 per equity share
- Subscription Period: August 26 to August 29
- Grey Market Premium: Approximately 23% over the issue price
Offer Structure
The IPO comprises two components:
- Fresh issue worth ₹721.00 crore
- Offer for sale amounting to ₹51.00 crore
A significant portion of the fresh issue proceeds, ₹541.00 crore, is earmarked for funding the company's working capital requirements.
Company Overview
Vikran Engineering operates as an EPC firm with a diverse project portfolio spanning across:
- Energy sector
- Water infrastructure
- Railway projects
- Solar sector
Project Track Record
The company boasts an impressive track record:
- Completed 45 projects across 14 states
- Total executed contract value: ₹1,920.00 crore
- Currently maintaining 44 ongoing projects worth ₹5,120.00 crore
Key Clients
Vikran Engineering's client roster includes major players in the power and infrastructure sectors:
- NTPC
- Power Grid Corporation of India
- Various state power distribution companies
Financial Performance
The company has shown strong financial growth:
Metric | FY24 | FY25 | Growth |
---|---|---|---|
Revenue | 786.00 | 916.00 | 16.54% |
Profit After Tax | 75.00 | 78.00 | 4.00% |
Market Sentiment
The 23% grey market premium indicates positive investor sentiment towards the IPO, suggesting strong market interest in Vikran Engineering's public offering.
As Vikran Engineering prepares to enter the public market, investors will be closely watching this IPO, given the company's strong project pipeline and financial growth trajectory in the EPC sector.