Vikran Engineering IPO to open on August 26, check price band, issue size & more

Maharashtra-based Vikran Engineering is set to open its initial public offering (IPO) for subscription on August 26, with a price band fixed between Rs 92 and Rs 97 per share. The anchor book will open on August 25, and the IPO will close on August 29. The company plans to list its shares on both the BSE and NSE, with the stock debut scheduled for September 3. Pantomath Capital Advisors and Systematix Corporate Services are managing the issue.

The IPO consists of a fresh issue of shares worth Rs 721 crore and an offer for sale of up to Rs 51 crore by existing promoters and shareholders. Proceeds from the fresh issue are earmarked to meet Vikran Engineering's working capital requirements. The public issue reserves include not more than 50% for qualified institutional buyers (QIB), not less than 15% for non-institutional investors (NII), and at least 35% for retail investors.

Vikran Engineering specialises in energy and water management, providing services that range from conceptualisation to commissioning on a turnkey basis. The company has a significant presence in power, water, and railway infrastructure projects, having completed 45 projects with a total contract value of Rs 1,919.92 crore as of June 30, 2025. Currently, it is working on 44 projects worth Rs 5,120.21 crore across 16 states.

The firm aims to leverage the IPO proceeds to bolster its financial standing and support its expanding project portfolio. Vikran Engineering's projects include underground water distribution, surface water extraction, and overhead storage tanks. As of the latest update, the order book stands at Rs 2,442.44 crore.

In terms of competitive landscape, Vikran Engineering positions itself strongly with a diverse range of state-owned clients like NTPC and Power Grid Corporation of India. This extensive network is expected to play a pivotal role in the company's future growth.