Vikran Engineering IPO Subscription Reaches 2.51 Times on Day 1

The Vikran Engineering IPO has received a strong response from investors, with a subscription of 2.51x by the end of Day 1. The company is offering shares at a price band of Rs 92 to Rs 97 per share, with a minimum lot size of 148 shares. The issue size stands at 7,95,87,627 shares (aggregating up to Rs 772.00 Cr). The offer for sale and fresh issue stands at 52,57,731 shares (aggregating up to Rs 51.00 crore). Stay tuned for the latest updates on the Vikram Solar IPO subscription status as the offering progresses.

Vikran Engineering Limited IPO Subscription Status - Day 1

The Vikran Engineering IPO was subscribed 2.51 times overall by the end of Day 1, with Retail Investors at 2.44 times, Non-Institutional Investors (NIIs) with a demand at 5.43 times, and Qualified Institutional Buyers (QIBs) at 0.43 times.

Last updated: 05:04 PM, Tuesday, 26 Aug 2025

Company Overview of Vikran Engineering IPO

Vikran Engineering Limited is an Indian EPC company with a diversified portfolio across power, water, and railway infrastructure projects. The company provides engineering, procurement, and construction services such as high-voltage transmission line projects up to 765 kV, substations up to 400 kV (Air Insulated Substations and Gas Insulated Substations), power distribution networks, water treatment plants, and railway electrification works.

The company operates on an asset-light model, relying on leased equipment for project execution instead of owning heavy machinery, which helps reduce fixed costs and improve scalability. Vikran Engineering has established a presence across multiple Indian states, catering to both government and private sector clients. Its business is supported by a qualified workforce and strong relationships with public utilities, enabling it to secure repeat orders and long-term contracts.

With India’s rising focus on infrastructure modernization, renewable integration into the power grid, and expansion of water and railway networks, Vikran Engineering is positioned to benefit from large-scale government spending and industry growth.

Strengths and Risks of Vikran Engineering IPO

Strengths:

• Diversified Project Portfolio: The company’s presence across power, water, and railway infrastructure reduces dependence on a single sector.

• Asset-light Model: Leasing equipment instead of owning it lowers capital expenditure and increases operational flexibility.

• Established Client Relationships: Strong ties with government agencies and utilities enhance project visibility and repeat business opportunities.

• Skilled Workforce: A technically qualified team enables efficient project execution and adherence to strict quality and safety standards.

• Infrastructure Growth Tailwinds: India’s growing investments in renewable energy, power distribution, water supply, and railways provide a robust demand outlook.

Risks:

• High Dependency on Government Projects: A significant portion of revenue comes from government contracts, exposing the business to delays in project awards and payments.

• Working Capital Intensive: EPC projects require high upfront costs for labor, raw materials, and execution, creating liquidity and cash flow challenges.

• Competitive Bidding Pressure: The EPC sector is highly competitive, and aggressive pricing to win projects could impact margins.

• Project Execution Risks: Delays in obtaining approvals, land clearances, or supply disruptions could lead to cost overruns and penalties.

• Regulatory and Policy Risks: Changes in government policies, contract conditions, or infrastructure budgets could affect order inflows and growth.

Vikran Engineering Limited IPO Details

• IPO Date: August 26, 2025 to August 29, 2025

• Issue Price: Rs 92 to Rs 97 per share

• Lot Size: 148 shares

• Total Issue Size: 7,95,87,627 shares (aggregating up to Rs 772.00 crore)

• Tentative Allotment Date: Monday, September 1, 2025

• Tentative Listing Date: Wednesday, September 3, 2025

How to Apply for Vikran Engineering Limited IPO

• Visit the Rupeezy app or Rupezy DOCK.

• Navigate to the IPO section on the Home Page

• Here, you can view all the IPOs with details such as market lot, minimum bid quantity, price range, and analysis.

• You can read the Red Herring Prospectus for the issue details.

• Click on Apply.

• Enter your UPI ID for payment & place the bid.

• While placing the bid, enter the cutoff price or desired price in the range specified. Select quantity as per lot size. 

• Submit to complete the order.