Vikran Engineering IPO Subscription Status

The Vikran Engineering IPO closed with an impressive subscription of 24.87 times on the final day, 29th August 2025 (till 5:00 PM).

• Qualified Institutional Buyers (QIBs): 20.51x
• Non-Institutional Investors (NIIs): 61.77x
• Retail Individual Investors (RIIs): 11.56x

By the end of the third day, the IPO received bids for a staggering 1,38,57,62,924 shares against the total issue size of 5,57,11,341 shares, clearly reflecting strong investor enthusiasm.

Day-wise subscription status:

• Day 1 (27th August 2025): 2.51x
• Day 2 (28th August 2025): 5.52x
• Day 3 (29th August 2025): 24.87x

The IPO witnessed a gradual build-up of demand, peaking on the final day, largely driven by NIIs and institutional investors.

About Vikran Engineering Limited

Established in 2008, Vikran Engineering Limited is a leading player in the Engineering, Procurement, and Construction (EPC) industry. Over the years, the company has executed multiple government and private sector projects, earning a reputation for operational excellence and cost efficiency.

The company provides integrated EPC services across diverse sectors including:

• Power infrastructure
• Water and wastewater management
• Railway and transport infrastructure
• Urban development projects

Key strengths of Vikran Engineering include:

• Geographical and sector diversification, ensuring reduced dependency on a single vertical
• Experienced promoters with decades of industry expertise
• Scalable operations backed by a strong order book
• Healthy financial risk profile with stable cash flows
• Customer-centric approach, focusing on building long-term relationships

The company’s proven execution capabilities and commitment to quality services have positioned it among the top EPC firms in India.

Vikran Engineering Financial Performance

The company has consistently shown revenue growth with steady profitability:

• Revenue (FY 2023): ₹529.18 crore
• Revenue (FY 2024): ₹791.44 crore
• Revenue (FY 2025): ₹922.36 crore
• Net Profit (FY 2024): ₹74.83 crore
• Net Profit (FY 2025): ₹77.82 crore

Despite rising input costs and competitive market conditions, the company has managed to maintain profitability, aided by efficient project execution and cost management strategies. The improvement in revenue highlights a robust order pipeline and strong execution capacity.

Vikran Engineering IPO GMP

As of Friday, 29th August 2025, the Grey Market Premium (GMP) for Vikran Engineering IPO stood at ₹10 per share.

This indicates that the IPO shares are trading at ₹107 in the grey market, compared to the issue price of ₹97, reflecting a 10.3% premium.

Market analysts believe the high subscription levels (especially NII at 61.77x) combined with a positive GMP signal a potentially strong listing debut for Vikran Engineering.