Vikran Engineering IPO Description – Vikran Engineering is a rapidly growing Indian Engineering, Procurement, and Construction (EPC) company with a diverse project portfolio. The majority of its revenue stems from two high-potential verticals: energy and water infrastructure. The company offers comprehensive, end-to-end services, including conceptualization, design, supply, installation, testing, and commissioning, all on a turnkey basis. With a presence spanning multiple sectors such as power, water, and railway infrastructure, Vikran Engineering is well-positioned to capitalize on growth opportunities in these critical industries.
In the power sector, Vikran Engineering has established a strong presence in both power transmission and distribution. The company has successfully executed projects under various schemes, including power transmission up to the 400kV level and extra high voltage (EHV) substations up to the 765kV level. Notable projects include the construction of 132kV transmission lines and bay extension works for railway electrification. In the water sector, the company undertakes projects such as underground water distribution, surface water extraction, overhead tanks, and comprehensive distribution networks. Vikran Engineering also brings expertise in Solar EPC, specializing in ground-mounted solar projects and smart metering.
As of 30 June 2025, Vikran Engineering has completed 45 projects across 14 states, with a total executed contract value of INR 1,919.92 crore. The company is currently working on 44 ongoing projects spread across 16 states, with a total order value of INR 5,120.21 crore, including an Order Book worth INR 2,420.44 crore. This highlights the company’s robust project execution capabilities and its expanding presence across India.
Promoters of Vikran Engineering – Rakesh Ashok Markhedkar, Avinash Markhedkar, and Nakul Markehdkar
Table of Contents
Vikran Engineering IPO Details
| Vikran Engineering IPO Dates | 26 – 29 August 2025 |
| Vikran Engineering Issue Price | INR 92 -97 per share |
| Fresh issue | INR 721 crore |
| Offer For Sale | INR 51 crore |
| Total IPO size | INR 772 crore |
| Minimum bid (lot size) | 148 shares (INR 14,356) |
| Face Value | INR 1 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Vikran Engineering Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 524.31 | 785.95 | 915.85 |
| Expenses | 476.51 | 690.68 | 812.18 |
| Net income | 42.84 | 74.83 | 77.82 |
| Margin (%) | 8.17 | 9.52 | 8.50 |
Vikran Engineering Offer News
- Vikran Engineering RHP
- Vikran Engineering DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Vikran Engineering Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue)* | |
| EPS | 2.89 | 4.92 | 4.35 | 3.02 |
| PE Ratio | – | – | 21.15 – 22.30 | 30.49 – 32.15 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 32.67 | 25.69 | 16.63 |
| NAV | 8.85 | 17.20 | 25.49 |
| ROCE (%) | 28.04 | 30.43 | 23.34 |
| EBITDA (%) | 15.20 | 16.96 | 17.50 |
| Debt/Equity | 1.18 | 0.63 | 0.58 |
Vikran Engineering IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 2 September 2025 | 6 | – | 500 |
| 1 September 2025 | 6 | – | 500 |
| 30 August 2025 | 8 | – | 400 |
| 29 August 2025 | 11 | – | 1,200 |
| 28 August 2025 | 13 | – | 1,500 |
| 27 August 2025 | 15 | – | 1,600 |
| 26 August 2025 | 22 | – | 2,100 |
| 25 August 2025 | 18 | – | 1,900 |
| 23 August 2025 | 20 | – | 2,200 |
| 22 August 2025 | 22 | – | 2,700 |
| 21 August 2025 | 24 | – | 2,700 |
| 20 August 2025 | 15 | – | 1,300 |
Vikran Engineering IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding working capital requirements of the company – INR 541 crore
- General corporate purposes
Vikran Engineering IPO Shareholders
| Sr. No. | Name of the Shareholder | Number of Equity Shares | Holding (%) |
|---|---|---|---|
| 1 | Rakesh Ashok Markhedkar | 10,83,57,150 | 59.02% |
| 2 | Vipul Markhedkar | 1,32,96,210 | 7.24% |
| 3 | Nakul Markhedkar | 1,32,96,210 | 7.24% |
| 4 | Kanchan Markhedkar | 1,32,96,210 | 7.24% |
| 5 | India Inflection Opportunity Fund | 1,06,87,050 | 5.82% |
| 6 | Ashish Kacholia | 39,30,060 | 2.14% |
| 7 | Everest Finance & Investment Company | 39,30,060 | 2.14% |
| 8 | Mukul Mahavir Agrawal | 27,10,140 | 1.48% |
| 9 | Vikran Global Infraprojects Private Limited | 18,87,000 | 1.03% |
| Total | 17,13,90,090 | 93.35% |
Vikran Engineering – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Vikran Engineering | 22.30 | 4.35 | 16.63 | 25.49 | 915.85 |
| Bajel Projects | 689.32 | 1.34 | 2.32 | 57.63 | 2,598.24 |
| Kalpataru Projects | 42.11 | 35.53 | 8.77 | 378.80 | 22,315.78 |
Vikran Engineering IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,67,82,608 | 1,25,86,956 | 2,93,69,564 | 5,87,39,128 |
| 29 Aug 2025 | 19.45 | 58.58 | 10.97 | 23.59 |
| 28 Aug 2025 | 0.91 | 11.03 | 5.23 | 5.24 |
| 26 Aug 2025 | 0.41 | 5.15 | 2.32 | 2.38 |
2,38,76,287 shares allotted to anchor investors are not included in these calculations.
Vikran Engineering IPO Allotment Status
Vikran Engineering IPO allotment status is now available on Bigshare Services’ website. Click on this link to get the allotment status.
Vikran Engineering IPO Dates & Listing Performance
| IPO Opening Date | 26 August 2025 |
| IPO Closing Date | 29 August 2025 |
| Finalization of Basis of Allotment | 1 September 2025 |
| Initiation of refunds | 2 September 2025 |
| Transfer of shares to demat accounts | 2 September 2025 |
| Vikran Engineering IPO Listing Date | 3 September 2025 |
| Opening Price on NSE | INR 99 per share (up 2.06%) |
| Closing Price on NSE | INR 95.71 per share (down 1.33%) |
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Vikran Engineering Offer Lead Manager
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Pantomath Nucleus House, Saki Vihar Road,
Andheri East, Mumbai – 400 072 Maharashtra, India
Phone: 18008898711
Email: [email protected]
Website: www.pantomathgroup.com
Vikran Engineering Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Pinnacle Business Park,
Mahakali Caves Road, next to Ahura Centre,
Andheri East, Mumbai- 400093, Maharashtra
Phone: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
Vikran Engineering Contact Details
VIKRAN ENGINEERING LIMITED
401, Odyssey I.T. Park, Road No. 9, Wagle Industrial
Estate, Thane (W) – 400604, Maharashtra
Phone: +91-22-62638263
Email: [email protected]
Website: www.vikrangroup.com
Vikran Engineering IPO FAQs
How many shares in Vikran Engineering IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Vikran Engineering Public Offer?
The best way to apply for Vikran Engineering’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Vikran Engineering IPO GMP today?
Vikran Engineering IPO GMP today is INR 6 per share.
What is the Vikran Engineering kostak rate today?
Vikran Engineering kostak rate today is INR NA per application.
What is Vikran Engineering Subject to Sauda rate today?
Vikran Engineering Subject to Sauda rate today is INR 500 per application.
Every new IPO GPM be onformed
Detail information be provided for new IPO