Vikran Engineering Limited Link 
Allotment
Vikran Engineering Limited launched a book-built IPO of ₹772.00 crore, consisting of a fresh issue of 7.43 crore shares worth ₹721.00 crore and an offer-for-sale of 0.53 crore shares worth ₹51.00 crore. The IPO bidding was open from August 26, 2025, to August 29, 2025, with allotment finalized on September 1, 2025. The shares were listed on BSE and NSE on September 3, 2025.
The IPO had a price band of ₹97 per share. Retail investors could apply for a minimum of 148 shares (₹14,356 at the upper price). Small non-institutional investors (sNII) could subscribe for 14 lots (2,072 shares, ₹2,00,984), while big non-institutional investors (bNII) could apply for 70 lots (10,360 shares, ₹10,04,920).
Pantomath Capital Advisors Pvt. Ltd. served as the book-running lead manager, and Bigshare Services Pvt. Ltd. was the registrar for the issue. The IPO provided investors an opportunity to participate in Vikran Engineering’s growth across power, water, railway, and solar EPC sectors.
₹97
0%
Open
₹97
HIgh - Low
₹97
Previous Close
₹97
Total Traded Value
0
52 Weeks High
₹97
52 Weeks Low
₹97
Updates On
Aug 20, 2025
IPO. Open
Aug 26, 2026
IPO. Close
Aug 29, 2026
IPO. Price
₹97.00
IPO Market price
₹2,501.74 Cr
IPO Details
| IPO Date | 3 Sep |
| IPO Listing Date | 3 Sep |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹97.00 |
| IPO Issue Size | 7,95,87,627 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE BSE Platform |
| Share Holding Pre Issue | 18,35,81,130 shares |
IPO Timeline
| IPO Open Date | 26 Aug |
| IPO Close Date | 29 Aug |
| IPO Allotment (Tentative) | 1 Sep |
| Refunds | 2 Sep |
| Credit to Demat Account | 2 Sep |
| IPO Listing Date | 3 Sep |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 3,97,93,812 Shares |
| NII (HNI) Shares Offered | 1,19,38,145 Shares |
| Retail Shares Offered | 2,78,55,670 Shares |
IPO Lot Size
Investors can bid for a minimum of 148 shares, with additional shares to be purchased in multiples of 148.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 148 | ₹14,356 |
| Retail (Max) | 13 | 1,924 | ₹1,86,628 |
| S-HNI (Min) | 14 | 2,072 | ₹2,00,984 |
| S-HNI (Max) | 69 | 10,212 | ₹9,90,564 |
| B-HNI (Min) | 70 | 10,360 | ₹10,04,920 |
Incorporated in 2008, Vikran Engineering Limited is a leading Engineering, Procurement, and Construction (EPC) company. The company specializes in projects across power transmission and distribution, water infrastructure, railway infrastructure, and solar energy. Its water infrastructure projects include underground water distribution, surface water extraction, overhead tanks, and distribution networks.
Service Sectors:
Power Transmission and Distribution: Execution of extra-high voltage (EHV) substations up to 400kV and comprehensive power distribution solutions.
Water Infrastructure: Design and construction of underground water networks, surface water extraction systems, overhead tanks, and distribution pipelines.
Railway Infrastructure: EPC services for railway projects.
Solar Energy: Expanding footprint in solar EPC projects.
As of June 30, 2025, Vikran Engineering has successfully completed 45 projects across 14 states with a total executed contract value of ₹19,199.17 million. The company has 44 ongoing projects across 16 states, aggregating ₹51,202.07 million in orders, with an Order Book of ₹24,424.39 million. Its government clients include NTPC Limited, Power Grid Corporation of India Limited, South Bihar Power Distribution Co. Ltd., North Bihar Power Distribution Co. Ltd., Transmission Corporation of Telangana Limited, among others. The company employs 761 permanent staff as of June 30, 2025.
Competitive Strengths:
Rapidly growing EPC company with timely execution in power transmission, distribution, and water infrastructure sectors
Diversified order book across business verticals with consistent financial performance
Asset-light business model
In-house technical and engineering capabilities with strong process control and quality assurance
Experienced promoters and management team with deep domain knowledge
Company Financials (Consolidated)
| Assets | 1,354.68 | 959.79 | 712.47 |
| Total Income | 922.36 | 791.44 | 529.18 |
| Profit After Tax | 77.82 | 74.83 | 42.84 |
| EBITDA | 160.24 | 133.3 | 79.71 |
| NET Worth | 467.87 | 291.28 | 131.14 |
| Reserves and Surplus | 449.52 | 290.95 | 130.85 |
| Total Borrowing | 272.94 | 183.39 | 154.92 |
Key Performance Indicator (KPI)
| ROE | 16.63% |
| ROCE | 23.34% |
| Debt/Equity | 0.58 |
| RoNW | 16.63% |
| PAT Margin | 8.44% |
| EBITDA Margin | 17.50% |
| Price to Book Value | 3.81 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 541 |
| 3 | To meet out the General Corporate Purposes; | 129.97 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Vikran Engineering Ltd. Address
401, Odyssey I.T. Park,
Road No. 9, Wagle Industrial Estate
Thane (W), Maharashtra
Thane, Maharashtra, 400604
+91-22-62638263
companysecretary@vikrangroup.com
Detail Registrar
IPO Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
ipo@bigshareonline.com
Compare:
