Vikran Engineering came to market through an IPO that opened on 26 August 2025 and closed on 29 August 2025, and the shares listed on 3 September 2025 on BSE, NSE. The price band was ₹92 to ₹97 per share and one lot was 148 shares, so the minimum application was ₹14,356. The issue size was ₹772 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Bigshare Services Pvt Ltd was the registrar to the issue, and Pantomath Capital Advisors Pvt Ltd, Systematix Corporate Services Limited were the lead managers.
As of 29 August 2025.
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Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) entity.The projects of the company include underground water distribution and surface water extraction, overhead tanks, and distribution networks. Service Sectors: Power Transmission and Distribution: Experts in extra-high voltage (EHV) substations up to 400kV and integrated power distribution solutions. Water Infrastructure: Involved in underground water distribution, surface water extraction, overhead tanks, and distribution network projects. Railway Infrastructure: Offering services in railway infrastructure projects. Solar Energy:
Increasing presence in solar EPC projects. As of August 31, 2024, we have executed 44 projects in 11 states with a total executed contract value of Rs 18,958.14 million. As of August 31, 2024, we have 34 projects under execution in 17 states, aggregating orders of Rs 39,570.55 million, of which the Order Book is Rs 19,557.00 million.
The clients of the company in the government industry are 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 and others. The company has pan-India operations backed by 195 sites and store locations up to August 31, 2024. The company provide a variety of EPC services that meet the individual requirements of our customers pan-India.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Vikran Engineering mops up Rs 231.6 crore through anchor investors prior to IPO. Bank of India Mutual Fund, ITI Mutual Fund, Nippon India, LC Pharos Multi Strategy Fund, SBI General Insurance Company, Samco Mutual Fund, 360 ONE, IMAP India, and Societe Generale were few among the 13 investors who put in their bids during the anchor book.
Rakesh Ashok Markhedkar, Avinash Markhedkar, Nakul Markhedkar. Promoter holding 81.78% before the issue.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Vikran Engineering IPO was a ₹772 crore book-built issue, comprising a fresh issue of ₹721 crore and an offer for sale of ₹51 crore. It was priced at ₹92–₹97 per share with a lot size of 148 shares (₹14,356). The IPO was open from August 26 to August 29, 2025 and was subscribed 24.87x. Shares listed on BSE and NSE on September 3, 2025 at ₹99, a 2.1% premium to the issue price of ₹97.
Bigshare Services Pvt Ltd is the registrar. Pantomath Capital Advisors Pvt Ltd and Systematix Corporate Services Limited are the book running lead managers.
The price band of Vikran Engineering IPO is ₹92 to ₹97 per share.
The lot size of Vikran Engineering IPO is 148 shares.
The minimum investment for Vikran Engineering IPO is approximately ₹14,356 based on the upper price band.
The allotment date of Vikran Engineering IPO is Sep 1, 2025.
Vikran Engineering IPO's final recorded GMP before listing was ₹5 per share (a 5% premium over the ₹97 upper price band). The shares listed at ₹99. GMP is unofficial and does not forecast or guarantee the actual listing price.
Vikran Engineering IPO listed on Sep 3, 2025. It was issued at ₹99.0(NSE) and is currently around ₹53.69 as on 2-Nov-2026 3:30 PM, which is approximately -44.6% versus issue price. The 52-week high is ₹118.40.
You can check Vikran Engineering IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Vikran Engineering IPO allotment status on Rupix for quick and easy access.
₹92 to ₹97 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 148 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,356.
₹14,356, for one lot of 148 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 26 August 2025 and closed on 29 August 2025.
The basis of allotment was published on 1 September 2025 by Bigshare Services Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 3 September 2025 on BSE, NSE.
The issue size was ₹772 crore. The fresh issue was 7,43,29,896 shares (aggregating up to ₹721 crore). The offer for sale was 52,57,731 shares (aggregating up to ₹51 crore).