Mumbai-based VIkran Engineering company has submitted DRHP(Draft red herring prospectus) with the Securities and Exchange Board for an IPO valued at 1,000 crores, in which 900 crore is a fresh issue and OFS (offer for sale) is 100 crores sales by promoter of Rakesh Ashok Markhedkar. Vikran Engineering is backed by several pre-IPO investors, including India Inflection Opportunity Fund, Ashish Kacholia, Mukul Agarwal, and Negen AIF, besides other family offices and HNI investors.
Bigshare Services is the registrar for the public issue of Vikran Engineering, while Pantomath Capital Advisors and Systematix Corporate Services are the book-running lead managers.
The company intends to utilize the proceeds from the fresh issue to the extent of Rs 625.5 crore for funding working capital requirements. Vikran Engineering will use the remaining amount for general corporate purposes.
This company was founded in 2015 by Rakesh Ashok Markhedkar with 34 years of experience and accessed various projects in around 22 states in India. Vikran Engineering has 94% revenue in the bottom year of 2024. Moreover, ROCE (Return on Capital Employed,) is 31% and 30% of ROE(return on equity). Furthermore, other non-current assets were 18.13 in 2023, and 10.72 in 2022, while current assets increased from 351.70 to 467.04.
Vikran Engineering’s specialties in power transmission and railway infrastructure. This company has divergent into water infrastructure, telecommunication, and track laying. The company has unique and varied strengths such as Geographical and sector diversification, Experienced promoters, Improved scale of operations, Comfortable financial risk profile. moreover, this company has completed 45 km of transmission projects in varied states and made a strong impression in the market.
VIkran Engineering IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
VIkran Engineering Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹479.57 | ₹470.21 | ₹6.60 |
| 2023 | ₹529.18 | ₹476.51 | ₹42.94 |
| 2024 | ₹791.44 | ₹688.69 | ₹74.62 |
VIkran Engineering IPO Valuation – FY2024
VIkran Engineering IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | 4.92 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 25.69% |
| Net Asset Value (NAV): | ₹17.20 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Bajel Projects Ltd | 0.37 | 689.32 | 0.76% | 49.11 | 1,169.21 Cr. |
| Kalpataru Projects International Ltd | 31.37 | 42.11 | 10.09% | 314.74 | 19,626.43 Cr. |
| Techno Electric & Engineering Company Ltd | 24.94 | 64.25 | 12.41% | 201.01 | 1,502.38 Cr. |
| SPML Infra Ltd | (1.42) | NA | (0.35)% | 94.63 | 13,18.97 Cr. |
| KEC International Limited | 13.49 | 75.61 | 8.47% | 159.31 | 19,914.17 Cr. |
Objects of the Issue
- Funding working capital requirements of our Company; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Pantomath Capital Advisors Private Limited
- Systematix Corporate Services Limited
