Vikran Engineering IPO Day 2: Subscription Crosses 3x, Price Band, Lot Size, Allotment and Listing Details
- 28th August 2025
- 01:00:00 PM
- 3 min read
Summary
The ₹772 crore Vikran Engineering IPO saw strong demand on Day 2 with overall subscription at 3.15x. Retail bids stood at 3.09x, HNIs 6.66x, and QIBs 0.62x. The issue, priced at ₹92–₹97, closes August 29, with allotment on September 1 and listing on September 3.
Mumbai | August 28 – The Vikran Engineering IPO has seen strong investor participation on its second day of bidding, with overall subscription crossing 3 times. The infrastructure engineering and EPC company aims to raise ₹772 crore through the issue.
Vikran Engineering IPO Summary
- Issue Size: ₹772 crore (₹721 crore fresh issue + ₹51 crore OFS)
- Price Band: ₹92–₹97 per share
- Lot Size: 148 shares per lot
- Day 2 Subscription: 3.15x overall; Retail 3.09x, NII 6.66x, QIB 0.62x
- Anchor Investment: ₹231.6 crore raised from marquee investors including Bank of India MF, SBI General Insurance, Societe Generale, VPK Global, and others
- Use of Proceeds: Funding working capital and general corporate purposes
- IPO Timeline:
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- Subscription: August 26–29
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- Allotment: September 1
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- Refund initiation: September 2
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- Demat credit: September 2
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- Listing: September 3 (NSE & BSE)
IPO Subscription Status on Day 2
As per NSE data, bids were received for over 18.50 crore shares compared to 5.87 crore shares on offer, translating into 3.15 times overall subscription by Thursday morning.
- Retail investors: 3.09 times subscribed
- High Net-Worth/Non-Institutional Investors: 6.66 times subscribed
- Qualified Institutional Buyers (QIBs): 0.62 times subscribed
The data indicates that retail and HNI investors are driving demand, while institutional interest is still building.
Anchor Investment Before IPO
On August 25, the company mobilised ₹231.6 crore from anchor investors. Key participants included Bank of India Mutual Fund, ITI MF, Samco MF, SBI General Insurance, Bengal Finance & Investment, IMAP India, Societe Generale, and VPK Global.
About Vikran Engineering
Vikran Engineering is a Mumbai-based infrastructure and EPC services company, offering end-to-end solutions from design and conceptualisation to installation, testing, and commissioning on a turnkey basis. The company operates across large-scale infrastructure projects, leveraging its expertise in engineering, procurement, and construction services.
The IPO proceeds will be primarily utilised to meet working capital requirements and for general corporate purposes, enabling Vikran Engineering to strengthen its balance sheet, fund ongoing projects, and support long-term business expansion in the infrastructure sector.
Vikran Engineering IPO GMP (Grey Market Premium)
In the unlisted market, the Vikran Engineering IPO GMP is reportedly around ₹110 per share, suggesting a premium of about 13% over the upper band price of ₹97.
Investors can conveniently apply to the Vikran Engineering IPO via PL Capital’s e-IPO platform here for a seamless and transparent application process.
Disclaimer: This article is for informational purposes only and is not investment advice or a stock recommendation. PL Capital does not provide investment advice or stock tips. All details are based on publicly available information and market sources. Past subscription numbers, grey market premium, and listing performance do not guarantee future returns. Investors should consult certified financial advisors before making investment decisions.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
