Vikran Engineering IPO Opens 26 Aug - Check GMP, Allotment Status

Vikran Engineering Limited is coming with an IPO. Vikran Engineering Limited is in Thane, Maharashtra (India), and is becoming one of the new entrants in the Indian engineering and construction industry. The company is involved in Engineering, Procurement, and Construction (EPC) services and provides total solutions across power transmission & distribution, smart metering, water infrastructure, and railway projects. As there is a lot of the ever-growing inner infrastructures in India, many analysts are seeing the possibilities of this company. The IPO price of every share is ₹97, and this is good timing for people to jump into financing engineering and infrastructures companies.

Currently, it is showing Vikran Engineering IPO GMP ₹15-18 (15.46-18.56%) premium in the grey market. Greymarket is indicating the investors are willing to pay ₹15-18 more than the IPO price. This is indicating many investors are looking to get into the company as shares.

Vikran Engineering IPO Dates

The Vikran Engineering Limited IPO will open on August 26, 2025, and close on August 29, 2025. The allotment date is September 1, 2025, and listing will happen on September 3, 2025.

IPO Basic Details

To buy Vikran Engineering shares, you need to invest at least ₹14,356 for 148 shares. The current GMP of 15.46-18.56% shows good demand from investors. This is one of the notable IPOs in the engineering and infrastructure sector this year.

About Vikran Engineering Limited

Vikran Engineering Limited is a growing Engineering, Procurement, and Construction (EPC) company located in Thane, Maharashtra, India. Established in 2008, Vikran Engineering provides complete EPC services in power transmission & distribution, smart metering, water infrastructure & railways and has built a reputation as a trusted partner in India's infrastructure development.

Vikran Engineering is passionate about meeting many of the needs for infrastructure development with the provide complete engineering solutions whereas services and offerings are designed to be aligned with India's growing infrastructure needs.  The company is dedicated to maintaining our quality standards and completing our projects in the most cost-effective way to assist the infrastructure growth of India.

The company is looking to diversify its project portfolio and to become more visible in available markets. The company intends to use the proceeds of this IPO to increase its business footprint by expanding its operations, investing in new technology and equipment, increasing its project execution capacity, and meeting working capital requirements.

Bigshare Services Pvt Ltd has been appointed as the IPO manager. The company plans to use the proceeds from the IPO to be used in expanding the operations, upgrading its technology and equipment, strengthening its project execution, repaying loans and general working capital. With continued growth for India's infrastructure market, Vikran Engineering is in an excellent position to take advantage of growth.

Vikran Engineering Financial Performance

The company has shown strong growth in recent years.

Financial Analysis

Between Mar 23 and Mar 25, Vikran Engineering had outstanding financial results, with asset growth of 90.1% and the company's total income increased by 74.3% to reach ₹922.4 Cr, driven by significant expansion in the EPC business. Profit After Tax grew 81.8% to ₹77.8 Cr, and EBITDA has more than doubled to ₹160.2 Cr, indicating project discipline and improved efficiency in operations and cost management. Net worth grew 256.9% to ₹467.9 Cr, resulting from the retention of business earnings over time, highlighting the strength of the company. Total borrowings did increase to ₹272.9 Cr to fund growth, and the debt-to-equity ratio remains low, suggesting good financial standing and solid execution of projects.

IPO Share Distribution

The shares will be divided as per SEBI rules:

Good Points

1. Strong Market Growth:
India's infrastructure market is experiencing explosive growth, driven by a well-funded government and aggressively increasing capital spending in the Indian infrastructure market.

2. Excellent Revenue Growth:
The company has increased revenue by 74.3% across two years, which suggests the company is growing quickly and the market needs the services the company provides.

3. Outstanding Asset Growth:
The company has grown its asset base by 90.1%, demonstrating incredible scaling and growing importance in infrastructure development.

4. Strong Profitability:
The company profit after tax grew by 81.8% suggesting excellent efficiency in operations and capability to execute its projects.

5. Exceptional EBITDA Growth:
The EBITDA grew 101% or doubled on the same revenue growth as strong operational performance of the company and margin improving.

6. Robust Financial Strength:
Net worth grew by 256.9% to demonstrate enormous financial strength and growth.

7. Diversified Portfolio:
The company operates in various segments, including power, water, railways, and smart metering projects.

8. Good GMP:
The Company's GMP of 15.46-18.56% indicates the reasonable amount of trust the investors have in the company.

9. Experienced Management:
The Company was created in 2008 and the founder has a history of multiple projects in the EPC sector.

10. Government Focus:
The infrastructure market has strong tailwinds from the Government focus on infrastructure and its smart city initiatives.

Risk Factors

1. Project Dependency:
Revenues in an EPC business are project-based and dependent on successfully winning and completing contracts.

2. Working Capital Intensive:
EPC projects use very large amounts of working capital, and can put pressure on cash flows during the project execution.

3. Regulatory Changes:
Infrastructure projects depend on regulatory approvals and legislative changes, which can delay project schedules.

4. Competition:
The EPC industry has keen competition from large, established players as well as new entrants into the sector.

5. Economic Slowdown:
Infrastructure spending takes a back seat to the economy, and spending is dependent on the country’s fiscal budget.

6. Execution Risk:
There are many different things that can delay projects, lead to cost overruns, or cause technical complications that may reduce profitability on a project.

7. Payment Delays:
Government and PSU clients can have long payment tabs which can impact cash flows.

8. Raw Material Costs:
EPC construction projects rely on steel, cement, and other material inputs, and fluctuations in these costs can impact project margins.

How to Apply for Vikran Engineering IPO?

Simple steps to apply (IPO opens August 26, 2025):

1. Open your trading app (Zerodha, Angel One, Groww, etc.)

2. Go to IPO section

3. Find Vikran Engineering IPO and click Apply

4. Fill details:

   • Number of lots (minimum 1 lot = 148 shares)

   • Bid price (₹97 or choose Cut-Off)

   • Your UPI ID

5. Submit application

6. Approve UPI payment request on your phone

Important: Approve UPI payment before 5 PM on same day or before IPO closes on August 29, 2025.

How to Check Vikran Engineering IPO Allotment Status?

You can check if you got shares in two ways:

Check on NSE/BSE Website

1. Go to NSE or BSE official website

2. Click on IPO section

3. Select Vikran Engineering IPO

4. Enter your PAN number or application number

5. Click submit to see results

Check on Registrar Website

1. Visit Bigshare Services

2. Select IPO allotment status

3. Choose Vikran Engineering IPO

4. Enter PAN or application number

5. Submit to check your allotment status

Company Address

Name: Vikran Engineering Limited
Address: 401, Odyssey I.T. Park, Road No. 9, Wagle Industrial Estate, Thane (W), Maharashtra, 400604, India
Phone: +91-22-62638263
Email: companysecretary@vikrangroup.com
Website: https://www.vikrangroup.com/

IPO Registrar

Name: Bigshare Services Pvt Ltd
Phone: +91 22 6263 8200
Email: investor@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Address: Bigshare Services Pvt Ltd, 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri(E), Mumbai - 400 059

Final Thoughts

Vikran Engineering Limited looks like a great investment opportunity in India's booming infrastructure space. Having a 74.3% revenues increase, 81.8% profits increase, and EBITDA multiplying two times over the past two years shows clear momentum, and the share price of ₹97 with a grey market premium (GMP) of 15.46–18.56% indicates that market sentiment seems very positive towards the IPO. Vikran's infra projects also span a number of sectors such as power transmission, water infra, railways, and smart metering, allowing it to possibly gain exposure to government-led initiatives such as smart cities and increased infra spending.

But, there are the usual EPC (engineering, procurement, construction) sector risks to consider such as project execution risks, working capital requirements, regulatory risks, other listed EPC companies compete very aggressively to win projects, and construction industry is cyclical when related to government spending.  Nevertheless, Vikran Engineering's steady financials and strong balance sheet reflect good management and execution competence. If you're keen on looking into this IPO or conducting assessments of any other stock's financials, ratios, or technical trends, Dhanarthi can be very useful in this regard. Dhanarthi provides instant, detailed reports and facilitates stock analysis to improve your decision-making in a simplified way, it can become a handy buddy in your stock market resolutions!

Disclaimer: This analysis is for educational purposes and not financial advice. Please consult a financial advisor before making investment decisions.

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