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Vikran Engineering IPO Listing: The stock lists at a premium of around 2% at Rs 99 apiece on the NSE, compared with the IPO issue price of Rs 97.
Vikran Engineering IPO Listing.
Vikran Engineering IPO Listing: Vikran Engineering Ltd made a muted stock market debut on September 3. The stock was listed at a premium of around 2% at Rs 99 apiece on the NSE, compared with the IPO issue price of Rs 97. However, the stock declined into the red and traded down by 2.32% at Rs 94.7 apiece as against the issue price.
The stock had risen in the morning immediately after the listing and hit the day’s high of Rs 101.77 apiece on the NSE, which was 4.5% higher than the IPO price, before plunging into the red.
On the BSE, the stock opened at Rs 99.7 apiece, which is 2.78% higher than the issue price. The stock is currently trading in red, down by over 2.5%.
The company’s market capitalisation (mcap) stood at nearly Rs 2,600 crore.
The initial public offering (IPO) of Vikran Engineering Ltd was open between August 26 and August 29. It received a strong overall subscription of 24.87 times.
Vikran Engineering IPO Listing: Should You Buy, Sell Or Hold?
“Vikran Engineering Ltd made a modest debut on the stock market with a listing gain of about 2.7% over its issue price of Rs 97, opening at around Rs 99.70. The company operates as a leading EPC player in power transmission, water infrastructure, and railway electrification projects with an asset-light model and a strong execution track record,” said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
It enjoys robust growth visibility backed by a Rs 2,442 crore order book, supported by government infrastructure spending, she added.
“Investors are recommended to hold their holdings with a stop-loss near Rs 89 to safeguard against volatility, as execution of the strong order pipeline could drive medium-term upside,” Nyati said.
Brokerage firm Master Capital Services in its note said the Vikran Engineering IPO had a debut with a muted listing performance. The stock opened at Rs 99.70, offering a slight premium of 2.7% over its issue price of Rs 97. The IPO saw solid demand, with an overall subscription of 24.87 times, led by exceptional non-institutional buyer interest (61.77x).
Vikran has a good growth opportunity in the infrastructure space, is in demand with a healthy order book and a good execution model with a diversified order book of Rs 24,424 crore as of June 30, 2025, and has a pan-India presence in 16 states. It also has good advantages from government initiatives like the Jal Jeevan Mission and the Revamped Distribution Sector Scheme (RDSS), it added.
“While the current valuation appears to be stretched and cash flow issues remain a concern, the solid running history of execution and a good order book provide a positive long-term outlook on patience for investors,” Master Capital Services said.
The IPO is a mix of fresh issue of shares of about Rs 721 crore and an offer-for-sale portion worth Rs 51 crore by the promoter.
The Mumbai-based company intends to utilise proceeds from the fresh issue to the tune of Rs 541 crore for funding working capital requirements and the rest for general corporate purposes.
Vikran Engineering provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis.
As of June 30, 2025, the company completed 45 projects across 14 states with a total executed contract value of Rs 1,920 crore. It has 44 ongoing projects across 16 states, aggregating orders worth Rs 5,120 crore.
Vikran Engineering’s revenue from operations increased 16.53 per cent to Rs 916 crore in FY25 from Rs 786 crore in the previous financial year, and profit after tax rose 4 per cent to Rs 78 crore in FY25 from Rs 75 crore in FY24.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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