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Vikran Engineering IPO

  • Status: Closed
  • RHP:
  • ₹ 13,616 / 148 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    03 Sep 2025

  • Listing Price

    ₹99.70

  • Listing Change

    2.78%

  • Last Traded Price

    ₹95.64

Vikran Engineering IPO Details

  • Open Date

    26 Aug 2025

  • Close Date

    29 Aug 2025

  • Listing Date

    03 Sep 2025

  • IPO Price Range

    ₹ 92 to ₹97

  • IPO Size

    ₹ 772.00 Cr

  • Listing Exchange

    BSE, NSE

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Timeline Financials SWOT FAQ Contacts

Vikran Engineering IPO Timeline

Vikran Engineering IPO Subscription Status

Last Updated: 12 September 2025 3:38 PM by 5paisa

Vikran Engineering Limited is an EPC company operating in power transmission, water, railway, and solar infrastructure. It specializes in EHV substations up to 400kV, water distribution systems, overhead tanks, and solar projects. By June 30, 2025, the company had successfully executed 45 projects across 14 states with a contract value of ₹19,199.17 million. It currently manages 44 projects in 16 states worth ₹51,202.07 million, including an order book of ₹24,424.39 million. Key clients include NTPC, Power Grid, and state utilities.
 
Established in: 2008
Managing Director:  Mr. Rakesh Ashok Markhedkar

 

Peers

Metric Bajel Projects Ltd Kalpataru Projects International Ltd Techno Electric & Engineering Company Ltd SPML Infra Ltd KEC International Limited Transrail Lighning Limited
Face Value 2 2 2 2 2 2
LTP on August 14, 2025 212.72 1,232.10 1,493.50 279.95 778.55 790.40
Revenue from Operations 25,982.37 2,23,157.80 22,686.61 7,706.36 2,18,467.00 53,077.50
EPS 1.34 35.53 37.19 7.61 21.80 25.72
NAV per Equity Share on March 31, 2025 57.63 378.80 321.55 107.43 200.88 140.11
P/E Ratio 158.75 34.68 40.17 36.79 35.71 30.73
RoNW 2.32 8.77 11.31 6.22 10.67 17.36

 

Vikran Engineering Objectives

● The Company will use ₹541.00 Cr  to fund its working capital requirements.
● The balance will be used for general corporate purposes.

Vikran Engineering IPO Size

Types Size
Total IPO Size ₹772.00 Cr
Offer For Sale ₹51.00 Cr
Fresh Issue ₹721.00 Cr

Vikran Engineering IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 148 13,616
Retail (Max) 13 1,924 1,77,008
S-HNI (Min) 14 2,072 1,90,624
S-HNI (MAX) 69 10,212 9,39,504
B-HNI (Min) 70 10,360 9,53,120

Vikran Engineering IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 20.51 1,59,17,527 32,64,46,412 3,166.53
NII (HNI) 61.68 1,19,38,144 73,63,08,880 7,142.20
Retail 11.33 2,78,55,670 31,56,07,336 3,061.39
Total** 24.74 5,57,11,341 1,37,83,62,628 4,379.28

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY24 FY25
Revenue 529.18 791.44 922.36
EBITDA 79.71 133.30 160.24
PAT 42.84 74.83 77.82
Particulars (in Rs. Crores)] FY23 FY24 FY25
Total Assets 712.47 959.79 1,354.68
Share Capital 18.36 0.33 0.29
Total Borrowings 272.94 183.39 154.92
Particulars (in Rs. Crores FY23 FY24 FY25
Net Cash Generated From / (used in) operating activities 5.55 -66.48 -129.09
Net Cash Generated From / (used in) investing activities -14.32 -15.94 -9.26
Net Cash Generated From / (used in) financing activities 8.75 82.37 140.61
Net Increase (Decrease) In Cash And Cash Equivalents -0.02 -0.04 2.28


Strengths

1. Completed 45 projects across 14 Indian states.
2. Diverse portfolio in power, water, railway, solar.
3. Trusted government clients like NTPC and Power Grid.
4. Strong order book ensuring consistent revenue visibility.
 

Weaknesses

1. Heavy dependence on government contracts for growth.
2. Business requires high working capital funding support.
3. Low brand recognition in private EPC market.
4. Project execution risks due to geographic spread.
 

Opportunities

1. Rising solar energy demand supports business expansion.
2. Increasing investments in nationwide water infrastructure projects.
3. Government push for modern power transmission upgrades.
4. Scope to expand into international EPC markets.
 

Threats

1. Stiff competition from larger EPC industry players.
2. Fluctuating raw material costs reduce profit margins.
3. Policy changes may delay major infrastructure projects.
4. Payment delays from government clients affect liquidity. 
 

1. Proven execution with 45 projects completed across 14 states.
2. Strong order book of ₹24,424.39 million ensuring revenue visibility.
3. Diversified portfolio spanning power, water, railway, and solar.
4. Trusted government clients like NTPC and Power Grid.
 

Vikran Engineering operates in the growing pharmaceutical API and intermediates market, supported by increasing global demand for cost-effective, high-quality medicines, nutraceuticals, and personal care products. With approvals from key regulatory authorities and a pipeline of products under development, the company is well-positioned to expand its portfolio, strengthen exports, and capture emerging opportunities in custom chemical manufacturing. Its focus on innovation and quality ensures long-term growth potential.

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FAQs

Vikran Engineering IPO opens from August 26, 2025 to August 29, 2025.

The size of Vikran Engineering IPO is ₹772.00 Cr.

The price band of Vikran Engineering IPO is fixed at ₹92 to ₹97 per share.

To apply for Vikran Engineering IPO, follow the steps given below:
 
●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Vikran Engineering  IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
 
You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Vikran Engineering IPO is of 2 lots consisting of 148 shares and the investment required is ₹13,616.

The share allotment date of Vikran Engineering IPO is September 1, 2025

The Vikran Engineering IPO will likely be listed on September 3, 2025.

Pantomath Capital Advisors Pvt.Ltd is the book running lead manager for Vikran Engineering IPO.

Vikran Engineering plans to utilise the raised capital from the IPO for:

● The Company will use ₹541.00 Cr  to fund its working capital requirements.
● The balance will be used for general corporate purposes.