Vikran Engineering IPO: Raises Rs 231.6 Cr From Anchors

New Delhi, Aug 25 (PTI) Infrastructure EPC company Vikran Engineering on Monday said it has mobilised Rs 231.6 crore from anchor investors a day before its initial share-sale opening for public subscription.

This anchor portion witnessed participation from various investors, including Bank of India Mutual Fund (MF), ITI MF, Samco MF, SBI General Insurance, IMAP India, Bengal Finance and Investment, VPK Global, and Societe Generale, among others, according to a circular uploaded on the BSE website.

As per the circular, Vikran Engineering has allotted over 2.38 crore equity shares to 14 entities at Rs 97 apiece. This aggregates the transaction size to Rs 231.60 crore.

The Rs 772-crore initial public offering (IPO) will open for subscription on August 26 and will conclude on August 29. The price band has been set at Rs 92-97 per share.

The IPO is a mix of fresh issue of shares of around 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 is one of the fast-growing Indian Engineering, Procurement & Construction (EPC) companies and provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis.

This IPO marks a significant milestone for Vikran Engineering, which secured the backing of The Wealth Company and seasoned investors, such as Ashish Kacholia and Mukul Aggarwal, through a pre-IPO placement round.

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 FY 25 from Rs 786 crore in the previous financial year, and profit after tax rose 4 per cent to Rs 78 crore in fiscal 2025 from Rs 75 crore in FY24.

Pantomath Capital Advisors and Systematix Corporate Services are the book-running lead managers, while Bigshare Services is the registrar of the issue.

Its share will be listed on the BSE and NSE.