Vikran Engineering IPO allotment: Check application status, latest GMP & listing date

Vikran Engineering is scheduled to finalize the basis of allotment of its shares on Monday, September 01. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, September 02. The EPC solutions player saw a decent response from the investors.

The IPO of Vikran Engineering was open for bidding between August 26 and August 29. It had offered its shares in the price band of Rs 92-97 per share with a lot size of 148 shares. The company raised a total of Rs 772 crore from its IPO, which was a fresh share sale of Rs 721 and an offer-for-sale (OFS) of 52,57,731 equity shares.

The issue was overall subscribed 23.59 times, attracting bids worth nearly Rs 13,450 crore, with more than 19.62 lakh applications. The portion for qualified institutional bidders (QIBs) was booked 19.45 times, while the quota for non-institutional investors (NIIs) was subscribed 58.58 times. The allocation for retail investors was subscribed 10.97 times.

Incorporated in 2008, Thane-based Vikran Engineering is an engineering, procurement, and construction (EPC) company. Its projects include underground water distribution and surface water extraction, overhead tanks, and distribution networks. It is active in power transmission, water infrastructure, railway infrastructure and solar energy sector. The grey market premium of Vikran Engineering has seen a sharp correction since the bidding kicked off-for the issue. Last heard, the company was commanding a premium (GMP) of Rs 6-7 per share in the unofficial market, suggesting mild listing gains of 6-7 per cent for the investors. The GMP stood around Rs 20-21 when the IPO had opened for bidding.

Pantomath Capital Advisors and Systematix Corporate Services are the book running lead managers for Vikran Engineering IPO and Bigshare Services is the registrar of the issue. Refund shall be initiated on Tuesday, September 02. Shares of the company shall be listed at both BSE and NSE on September 3, 2025.

Investors, who had bid for the issue of Vikran Engineering, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Vikran Engineering Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of Bigshare Services Private Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.

4) Enter the details of the mode you selected in Step 2

5) For security purposes, fill the captcha accurately

6) Hit Search to know your allotment status.