As an investor, deciding whether to apply for or not to an IPO can often be challenging. If you are confused and worried about whether to apply for or not to the Vikran Engineering IPO, then worry not. Here are 10 important key points and an in-depth, detailed Vikran Engineering IPO review that will help you make the decision.
Strengths and Weaknesses of Vikran Engineering IPO
Strengths:
- Vikran Engineering is one of the fastest-growing EPC companies known for timely execution in power transmission, distribution, and water infrastructure projects.
- The company has established a pan-India presence and has executed work across 22 states, and is currently executing projects in 17 states.
- The company includes a team of 10 designers and engineers who have a total of 93 years of experience to offer customised solutions for its turnkey projects.
- It comprises experienced promoters and a management team who have 34 years of experience in the EPC sector.
Weaknesses:
- Vikran Engineering has been known for completing the EPC projects on time or before schedule. Having delays in completing projects could affect its business and financial performance. Also, not being able to retain or get new contracts can affect the business growth, financial condition, and cash flow.
- In FY 2024, about 46.45% of its revenue comes from government projects, 21.03% from public sector units, and 32.52% from private clients. Delays, fewer tenders, or policy changes can negatively impact the business and finances.
- Over time, its customer base has become more diversified, meaning a large part of its order book and revenue comes from key customers. Meaning losing any of those key customers can badly impact the business, cash flow, and financial condition.
- In case any of the projects end early, then they may lose pending payments, which can hurt their business, finances, and cash flow.
Details of Vikran Engineering IPO
| IPO Size | ₹772 crores |
| Offer-for-sale | up to 52,57,731 equity shares |
| Fresh issue | ₹721 crores |
| Price band | ₹92 to ₹97 |
| Subscription | Opens on August 26, 2025, and the closing date is August 29, 2025 |
| Purpose of IPO | Fresh Issue and Offer-for-Sale |
Vikran Engineering IPO Opening and closing date?
The opening date of the Vikran Engineering IPO is August 26, 2025, and the closing date is August 29, 2025.
What is the size of the Vikran Engineering IPO?
Vikran Engineering decided to raise around ₹772 crores through an IPO. This IPO is entirely a fresh issue of ₹721 crores and an Offer-for-sale up to 52,57,731 equity shares, with a face value of ₹1 each.
What are the subscription details of the Vikran Engineering IPO?
The Vikran Engineering IPO price band is set at ₹92 to ₹97 per share. In this IPO, 148 shares were available in 1 lot size for the minimum retail category, 1,924 shares in 13 lot sizes for the maximum retail category, 2,072 shares in 14 lot sizes for the S-HNI minimum category, and 10,360 shares in 70 lot sizes for the B-HNI minimum category.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹14,356 and maximum investment of ₹1,86,628.
- Small HNI (S-HNI): Minimum investment of ₹2,00,984.
- Big HSI (S-HNI): A minimum investment of ₹10,04,920 is required.
What is the Vikran Engineering IPO listing Date?
Vikran Engineering is a Mainboard IPO whose shares will be listed on September 3, 2025, on the BSE (Bombay Stock Exchange) & NSE (National Stock Exchange).
What are the objectives of the Vikran Engineering IPO Issue?
The main reason behind raising funds via a fresh issue is to utilize the funds for the working capital requirements of the Company. Lastly, the remaining funds will be utilized for the company’s general corporate purposes.
About Vikran Engineering
Incorporated in 2008, Vikran Engineering is one of the leading Engineering, Procurement, and Construction (EPC) companies. The company has completed many projects for the government with a focus on operational excellence and efficient cost structure. The company has unique and varied strengths such as Geographical and sector diversification, Experienced promoters, Improved scale of operations, and a Comfortable financial risk profile. As they are providing high-quality services and top-notch solutions, they are presently famous across multiple sectors, including power, water, and railway infrastructure. In 2024, the company generated a revenue of ₹791.44 crore, while in 2023, it was ₹529.18 crore, showcasing a gradual revenue growth.
Vikran Engineering Financials
The company reported revenue of ₹922.36 crores in 2025 against ₹791.44 crores in 2024. The company reported a profit of ₹77.82 crores in 2025 against a profit of ₹74.83 crores in 2024.
Vikran Engineering IPO Promoters
Rakesh Ashok Markhedkar, Avinash Markhedkar, and Nakul Markhedkar are the promoters of the company.
Who are the Vikran Engineering IPO lead managers and registrar?
Pantomath Capital Advisors Pvt Ltd and Systematix Corporate Services Limited are the lead managers, while Bigshare Services Pvt Ltd is the company’s registrar.
Should you apply or not for the Vikran Engineering IPO?
Vikran Engineering is one of the fast-growing Indian Engineering, Procurement and Construction (EPC) company. The company is involved in providing end-to-end services from design and supply to commissioning across multiple sectors such as power, water, and railway infrastructure.
Over the years the company also showed the strong execution and order book by completing 45 projects across 14 states (₹1,920 crore) and is executing 44 projects in 16 states with an order book of ₹2,442 crore. If we talk about the company’s financial then in FY25, the company generated a revenue of ₹916 crore, if compared it to last year in FY24 it was ₹786 crore showcasing a rise in revenue by 16.5%. While the PAT margin improved from ₹74.8 crore to ₹77.8 crore, respectively. As of August 20, the Grey Market Premium is at ₹14, signaling an expected listing gain.
Now, if you ask, should you apply or not for the Vikran Engineering IPO, and if you believe in the long-term potential in EPC sector, and if okay with the moderate risk, then the investor can apply for this IPO.
