The IPO season continues to be buzzing. Vikran Engineering, a company known for its presence in engineering, procurement, and construction (EPC) projects across energy, water, and infrastructure, prepares to hit Dalal Street tomorrow, August 26. The IPO is set to close on August 29.
Let’s take a look at the five key factors that every investors should keep an eye on ahead of the upcoming IPO–
Vikran Engineering IPO: Price band and the details
A mainboard issue, Vikran Engineering has fixed a price band of Rs 92 to Rs 97 per share.
In this issue, retail investors can enter the issue with a minimum bid of 148 equity shares, and multiples thereof. Like most book-built IPOs, this issue’s offer structure ensures a mix of institutional and retail participation, with at least 35% reserved for small investors.
Vikran Engineering IPO: Grey market buzz
Ahead of the official opening of the issue, in the grey market, the shares of Vikran Engineering are trading at a premium of Rs 17. This is about 17% higher than the upper price band of Rs 97.
However, it is also important to note that the grey market premium is not the actual listing price and may change depending on market sentiment.
Vikran Engineering IPO: Fresh issue and offer for sale
The size of the offering stands at Rs 772 crore, split between a fresh issue of Rs 721 crore and an offer for sale worth Rs 51 crore by one of the existing shareholders.
While the OFS will allow partial exit to the promoter group, the bulk of the proceeds from the fresh issue will be used to support the company’s operational needs.
Vikran Engineering IPO: Use of funds
Vikran Engineering has placed Rs 541 crore from the IPO proceeds to strengthen its working capital position.
Furthermore, the remaining balance will be diverted towards general corporate purposes.
Vikran Engineering IPO: Project portfolio and order book of the company
The company has built its presence across the power, water, railway, and solar EPC sectors over the years.
As of June 30, 2025, the company has completed 45 projects across 14 states, amounting to nearly Rs 1,920 crore in value. Apart from this, it is currently executing 44 projects across 16 states, with a total order value exceeding Rs 5,120 crore. Out of this, its active order book stands at Rs 2,442 crore.
Vikran Engineering IPO: Financial performance
Coming to the company’s financial health, its revenue climbed 16.5% year-on-year from Rs 786 crore in FY24 to Rs 916 crore in FY25. However, profit growth has been more modest, with net profit rising by about 4% to Rs 78 crore during the same period.