Vikran Engineering Ltd.'s Initial Public Offering (IPO) has concluded with a resounding success, attracting significant investor interest across various categories. The mainboard IPO, which aimed to raise Rs 772 crore, witnessed an impressive overall subscription of 23.59 times, indicating strong market confidence in the company's prospects.

Subscription Details

The IPO received bids for a staggering 138.59 crore shares against the 5.87 crore shares on offer. The breakdown of subscription rates across different investor categories showcases widespread enthusiasm:

IPO Structure and Pricing

The Rs 772 crore IPO was structured as follows:

• Fresh issuance: Rs 721 crore
• Offer-for-sale: Rs 51 crore

The price band for the IPO was set between Rs 92 to Rs 97 per share.

Key Dates

• Share Allotment: Scheduled for September 1
• Expected Listing Date: September 3 on both NSE and BSE

Grey Market Premium

The grey market is showing a premium of Rs 6, suggesting an expected listing price of Rs 103 per share. However, it's important to note that grey market premiums are unofficial and subject to change.

About Vikran Engineering

Vikran Engineering Ltd. is an Engineering, Procurement, and Construction (EPC) company that specializes in:

• Power transmission projects
• Power distribution projects
• Water infrastructure development

The company's focus on critical infrastructure sectors positions it in potentially high-growth areas of the Indian economy.

Investor Takeaway

The strong oversubscription across all investor categories, particularly the high interest from Non-Institutional Investors, suggests robust confidence in Vikran Engineering's business model and growth prospects. However, as with all investments, potential investors should conduct their own research and consider their risk appetite before making investment decisions.

With the allotment process set to begin soon and listing just around the corner, all eyes will be on Vikran Engineering's market debut to see if it matches the enthusiasm seen during the subscription period.

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:

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.