Vikran Engineering IPO Oversubscribed 5.91 Times on Final Day
Vikran Engineering Ltd.'s IPO achieved 5.91 times oversubscription on its last day. The offering includes a fresh issue of Rs 721.00 crore and an offer for sale of Rs 51.00 crore, with a price band of Rs 92-97 per share. Non-institutional buyers led with 13.00 times subscription, followed by retail investors at 5.73 times, and qualified institutions at 0.91 times. The Mumbai-based company provides turnkey engineering services in power, water, and railway infrastructure sectors. Share allotment is scheduled for September 1, with listing on September 3 on BSE and NSE. The grey market premium stands at Rs 12.00, indicating a potential 12.37% listing gain.
*this image is generated using AI for illustrative purposes only.
Vikran Engineering Ltd.'s Initial Public Offering (IPO) has garnered significant investor interest, achieving an oversubscription of 5.91 times on its final day as of Friday morning. The Mumbai-based company, which specializes in providing turnkey engineering services across various infrastructure sectors, has seen strong demand across different investor categories.
IPO Details
The IPO comprises two components:
- A fresh issue of Rs 721.00 crore
- An offer for sale of Rs 51.00 crore
The company has set the price band for the IPO at Rs 92-97 per share.
Subscription Breakdown
The subscription details across different investor categories are as follows:
| Investor Category | Subscription Times |
|---|---|
| Non-institutional buyers | 13.00 |
| Retail investors | 5.73 |
| Qualified institutions | 0.91 |
Non-institutional buyers led the demand with a robust 13.00 times subscription, showcasing strong interest from this segment. Retail investors also showed significant enthusiasm, with the retail portion being subscribed 5.73 times. Qualified institutions subscribed 0.91 times their allotted portion.
About Vikran Engineering
Vikran Engineering Ltd. is a Mumbai-based company that provides turnkey engineering services across several key infrastructure sectors:
- Power
- Water
- Railway infrastructure
The company serves notable clients in these sectors, including:
- NTPC Ltd.
- Power Grid Corp.
- Eastern Central Railway
IPO Timeline
Important dates for investors to note:
- Share Allotment: Scheduled for September 1
- Listing Date: Set for September 3 on both BSE and NSE
Grey Market Premium
As of the final day of the IPO, the grey market premium stood at Rs 12.00. This indicates a potential listing gain of 12.37% based on the upper end of the price band.
The strong oversubscription and positive grey market premium suggest considerable investor interest in Vikran Engineering's public offering. However, it's important to note that grey market premiums and subscription levels are not guaranteed indicators of post-listing performance.
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