Vikran Engineering Limited IPO

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Vikran Engineering Limited IPO

Vikran Engineering is among the fastest-growing Indian Engineering, Procurement and Construction (EPC) players, recording revenue growth in FY23-25 ahead of industry and peer averages . It has executed projects for government bodies, PSUs, and private clients, delivering high-value outcomes with strong focus on operational excellence, efficiency, and compliance with stringent quality standards . Offering turnkey solutions from conceptualisation and design to supply, installation, testing, and commissioning, the company operates across diverse sectors including power, water, and railway infrastructure.

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Price Band

₹92 - ₹97

Dates

26 Aug - 29 Aug

GMP

₹7 (7.22%)
Subscriptions

23.59 times
Issue Size

₹772.00 Crs
Vikran Engineering IPO Key Dates
Opening Date

26 Aug 25

Closing Date

29 Aug 25

Basis Of Allotment

01 Sep 25

Initiations Of Refund

02 Sep 25

Credit Of Shares

02 Sep 25

Listing Date

03 Sep 25

Vikran Engineering IPO Objects

  1. Funding working capital requirements of our Company
  2. General corporate purposes

Vikran Engineering IPO Details
Price Band

₹92 - ₹97

Listing At

NSE & BSE
IPO Issue Type

100% Book Built Offer
Fresh Issue

₹721.00 Cr (7.43 Cr Shares)
Offer For Sale

₹51.00 Cr (0.53 Cr Shares)
Total Issue

₹772.00 Cr (7.96 Cr Shares)
Face Value

₹1 per equity share
Vikran Engineering IPO Lot Information
Investor Category Lot Shares Amount
Retail
Minimum 1 148 14,356
Maximum 13 1,924 1,86,628
Small HNI
Minimum 14 2,072 2,00,984
Maximum 69 10,212 9,90,564
Big HNI
Minimum 70 10,360 10,04,920
Allocate Funds
Vikran Engineering IPO Subscription

Updated as on 29-Aug-2025 19:00:00

Investor Category Subscription (times) Shares Offered Shared Bid
QIB 19.45 1,67,82,608 32,64,46,412
NII 58.58 1,25,86,956 73,73,70,484
bNII (bids above ₹10L) 66.71 83,91,304 55,98,15,180
sNII (bids between ₹2L to ₹10L) 42.32 41,95,652 17,75,55,304
Retail 10.97 2,93,69,564 32,21,02,612
Total 23.59 5,87,39,128 1,38,59,19,508
Vikran Engineering IPO GMP

The estimated Grey Market Premium of Vikran Engineering IPO is ₹7 per share (7.22%)

Category Allocation
Particulars Allocation
QIBs Not more than 50% of Net Offer
Big HNIs (NII) Not less than 10% of Net Offer
Small HNIs (NII) Not less than 5% of Net Offer
Retail Not less than 35% of Net Offer
Vikran Engineering IPO Financials

(Rs. in crores)

Particulars Mar-25 Mar-24 Mar-23 Mar-22
Revenue from Operations 915.85 785.95 524.31 474.21
Profit after Tax 77.82 74.83 42.84 6.59
Net Worth 467.87 291.28 131.14 89.21
Total Borrowing 272.94 183.39 154.92 118.71
Total Assets 1,354.68 959.79 712.47 479.87
NAV per share (in ₹) 25.49 17.20 8.85 6.02
EPS - Basic (in ₹) 4.35 4.92 2.89 0.45

The financial information presented is on a consolidated basis.

Key Performance Indicators
KPI Values
EBITDA 17.50%
PAT 8.44%
ROE 16.63%
ROCE 23.34%
Debt to Equity 0.58
PE Ratio 22.30
PB Ratio 3.81
  • All the data pertains to FY 2024-25
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.
Vikran Engineering IPO Peer Comparision

(Rs. in crores)

Particulars Vikran Engineering Bajel Projects Kalpataru Projects Techno Electric SPML Infra KEC International Transrail Lighting
Revenue from Ops (in Crs.) 915.85 2,598.24 22,315.78 2,268.66 770.64 21,846.70 5,307.75
PAT (In Crs.) 77.82 15.46 567.27 422.95 47.93 570.74 326.63
EPS - Basic 4.35 1.34 35.53 37.19 7.61 21.80 25.72
NAV per share 25.49 57.63 378.80 321.55 107.43 200.88 140.11
RONW 16.63% 2.32% 8.77% 11.31% 6.22% 10.67% 17.36%
EBITDA 17.50% 2.28% 8.22% 12.98% 5.54% 6.88% 12.69%
PAT Margin 8.44% 0.59% 2.53% 17.42% 5.82% 2.60% 6.10%
Price to earning (PE) 22.30 158.75 34.68 40.17 36.79 35.71 30.73
Debt to Equity 0.58 0.18 0.65 0.01 0.48 0.69 0.34
  • All information pertains to FY 2024-25.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 14, 2025 for Peers
Vikran Engineering IPO Peer Comparision

(Rs. in crores)

Particulars Vikran Engineering
Revenue from Ops (in Crs.) 915.85
PAT (In Crs.) 77.82
EPS - Basic 4.35
NAV per share 25.49
RONW 16.63%
EBITDA 17.50%
PAT Margin 8.44%
Price to earning (PE) 22.30
Debt to Equity 0.58
Bajel Projects Kalpataru Projects Techno Electric SPML Infra KEC International Transrail Lighting
2,598.24 22,315.78 2,268.66 770.64 21,846.70 5,307.75
15.46 567.27 422.95 47.93 570.74 326.63
1.34 35.53 37.19 7.61 21.80 25.72
57.63 378.80 321.55 107.43 200.88 140.11
2.32% 8.77% 11.31% 6.22% 10.67% 17.36%
2.28% 8.22% 12.98% 5.54% 6.88% 12.69%
0.59% 2.53% 17.42% 5.82% 2.60% 6.10%
158.75 34.68 40.17 36.79 35.71 30.73
0.18 0.65 0.01 0.48 0.69 0.34
  • All information pertains to FY 2024-25.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 14, 2025 for Peers
Promoter Details
Name Shareholding
Rakesh Ashok Markhedkar 59.02%
Nakul Markhedkar 7.24%
Other Promoters 15.51%
Total 81.78%
Management Details
Name Designation
Rakesh Ashok Markhedkar Chairman & MD
Ashish Bahety CFO
Company Details

Name: Vikran Engineering Limited

Address: 401, Odyssey I.T. Park, Road No. 9, Wagle Industrial Estate, Thane (W) – 400604, Maharashtra

Number: +91 22-62638263

Email: companysecretary@vik rangroup.com

Website: www.vikrangroup.com

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Frequently Asked questions?

Find answers to common questions that come in your mind related to IPO.

Vikran Engineering IPO is a Mainboard IPO having an issue size of Rs. ₹772.00 Crs. Vikran Engineering IPO is priced at ₹92 - ₹97 per share. The issue opens on 26 Aug 25 and closes on 29 Aug 25.

Vikran Engineering IPO opens on 26 Aug 25 and closes on 29 Aug 25.

The estimated Grey Market Premium of Vikran Engineering IPO is ₹7 per share (7.22%).

The minimum lot size of Vikran Engineering IPO is 148 shares & the minimum application amount is Rs. 14356.

The allotment date of Vikran Engineering IPO is 01 Sep 25.

The listing date of Vikran Engineering IPO is 03 Sep 25.

Vikran Engineering IPO is subscribed 23.59 times.

Vikran Engineering IPO is priced at ₹92 - ₹97 per share.

Click the allotment link on Vikran Engineering IPO page of IPO360.

  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app

  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app

  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Vikran Engineering IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date

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