Vikran Engineering IPO Listing: Shares of Mumbai-based infrastructure major Vikran Engineering Ltd. made a subdued debut on the stock exchanges on Wednesday, listing with only marginal gains despite a well-subscribed IPO.
The stock opened at Rs 99.70 on the BSE, marking a 3 per cent premium over its issue price of Rs 97. On the NSE, it debuted at Rs 99. Market observers had anticipated a modest listing gain, as indicated by the grey market premium (GMP) of around 7 per cent ahead of the listing.
The company’s Rs 772-crore initial public offering (IPO) had attracted robust interest across investor segments during its subscription window from August 26 to 29. The price band was set at Rs 92–97 per share.
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The IPO comprised a fresh issue of Rs 721 crore and an offer-for-sale (OFS) worth Rs 51 crore by the promoter. Vikran Engineering plans to use Rs 541 crore from the fresh proceeds to meet working capital needs, while the remaining will go towards general corporate purposes.
Ahead of the IPO, the company raised Rs 231.6 crore from anchor investors, drawing participation from marquee names such as Bank of India Mutual Fund, ITI MF, Samco MF, SBI General Insurance, and Societe Generale, among others.
Company Profile:
Vikran Engineering is a rapidly growing Engineering, Procurement & Construction (EPC) firm offering end-to-end turnkey solutions, including design, supply, installation, testing, and commissioning. With a focus on infrastructure development, the company is poised to play a significant role in India’s ongoing infrastructure expansion.
