Vikran Engineering Limited
Minimum investment
Bidding date
26 Aug - 29 Aug 2025
Price range
₹92 - ₹97
Minimum quantity
148
Minimum investment
₹13,616
Issue size
₹772 Cr.
IPO doc (link)
RHP docsListing exchange
NSE/BSE
Category | Subscription |
|---|---|
Qualified Institutional Buyers | 10.32x |
Retail Individual Investor | 6.65x |
Non-Institutional Investor | 36.27x |
Others | - |
Total | 6.65x |
Incorporated in 2008, Vikran Engineering Limited is a leading Engineering, Procurement, and Construction (EPC) company with expertise across multiple infrastructure sectors. The company specializes in power transmission and distribution, water infrastructure projects, railway infrastructure, and solar EPC solutions.
As of June 30, 2025, Vikran Engineering has successfully executed 45 projects across 14 states, with a total contract value of Rs. 19,199.17 million. It currently has 44 ongoing projects across 16 states, representing an order book of Rs. 24,424.39 million out of total aggregated orders of Rs. 51,202.07 million.
The company’s clientele includes prestigious government entities such as NTPC Limited, Power Grid Corporation of India Limited, Transmission Corporation of Telangana Limited, and South & North Bihar Power Distribution Companies. With a workforce of 761 permanent employees, Vikran Engineering leverages its strong in-house technical capabilities, quality assurance systems, and an asset-light business model to deliver efficient and timely projects.
Fast-Growing EPC Company: Vikran Engineering is one of the rapidly expanding EPC companies in India, known for timely execution and successful project delivery.
Diversified Order Book: The company operates across multiple infrastructure sectors, including power, water, railway, and solar projects, ensuring steady and consistent order inflows.
Asset-Light Business Model: By maintaining an asset-light structure, the company achieves capital efficiency and optimizes resources effectively.
Strong Technical & Engineering Capabilities: With in-house expertise and quality-focused project execution, Vikran Engineering maintains high standards in every project.
High Dependence on Government Contracts: A large portion of revenue comes from government-backed projects, making the business vulnerable to policy and regulatory changes.
Working Capital Intensive Model: The EPC business requires significant working capital, which may put pressure on liquidity and cash flows.
Rising Industry Competition: The EPC sector is highly competitive, and increasing rivalry could affect profit margins and order inflows.
Project Execution Risks: Revenue heavily depends on timely completion of large-scale projects, and delays may lead to cost overruns and reduced profitability.
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