Shares of Mumbai-based infrastructure EPC company Vikran Engineering Ltd. started trading on Wednesday, September 3, 2025, opening at ₹99.70 on the BSE, offering a slight premium of 2.78% over its IPO price of ₹97. On the NSE, the stock listed at ₹99, reflecting a modest market debut.
Vikran Engineering IPO attracted strong interest across all investor segments, highlighting confidence in the company’s growth prospects and execution capabilities.
IPO Structure and Use of Proceeds
The public offer included a new share issue valued at around ₹721 crore, along with a promoter’s sale of ₹51 crore. From the fresh issue proceeds, ₹541 crore will be allocated to support working capital requirements, while the remaining funds will be used for general corporate purposes.
Anchor Investor Participation
Before its listing, Vikran Engineering shares received commitments from anchor investors, including Bank of India Mutual Fund, ITI MF, Samco MF, SBI General Insurance, IMAP India, Bengal Finance and Investment, VPK Global, and Societe Generale, securing ₹231.6 crore.
Company Overview
Vikran Engineering is a fast-growing Indian EPC company providing comprehensive services across power transmission, water infrastructure, and railway electrification projects. The company manages all aspects of projects, from initial planning and design to supply, installation, testing, and commissioning on a turnkey basis.
At present, Vikran Engineering is executing 44 projects across 16 states, with a combined order book totalling ₹5,120 crore. As of June 30, 2025, the company had completed 45 projects across 14 states, amounting to ₹1,920 crore in executed contracts. Its asset-light business model and proven execution capabilities underpin its medium-term growth potential.
Financial Performance
Vikran Engineering reported revenue from operations of ₹916 crore in FY25, up 16.53% from ₹786 crore in FY24. Profit after tax rose to ₹78 crore in FY25 from ₹75 crore the previous year, demonstrating steady growth and operational efficiency.
Investor Support and Backing
The IPO also benefited from backing by prominent investors, including The Wealth Company, Ashish Kacholia, and Mukul Aggarwal, through a pre-IPO placement round.
Conclusion
Vikran Engineering’s debut on the stock market represents a key milestone in the company’s growth journey and investor engagement. With a robust order book, diversified operations, and proven execution capabilities, the company is positioned for continued expansion in India’s capital goods sector.
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