Vikran Engineering IPO to list tomorrow: What to expect
Vikran Engineering's IPO is set to list on September 3, after seeing strong demand with subscriptions at 23.59 times the offer.
Shares were priced between ₹92-97, and the total issue size is ₹772 crore—most of it fresh equity.
The subscription window ran from August 26-29.
What does Vikran Engineering do?
Started in Thane back in 2008, Vikran Engineering handles turnkey engineering, procurement, and construction (EPC) projects—think big infrastructure builds for clients like NTPC and Power Grid.
They've wrapped up 45 projects so far and are working on another 44 right now.
Most of the IPO money (₹541 crore) will go toward day-to-day business needs; the rest covers general corporate stuff.
What do analysts say?
Post-listing, Vikran Engineering's market cap will top ₹2,500 crore with a price-to-earnings ratio of around 22x for FY25 estimates, according to most analysts.
Analysts say it's fairly valued and could suit investors willing to ride out ups and downs in infrastructure.
With a solid project pipeline and proven track record, the company looks set to play a bigger role in India's growth story.