Last day! Vikran Engineering IPO ends today; check latest subscription, GMP

Vikran Engineering IPO Day 3 update: Check latest subscription status, GMP, allotment date, listing date, reviews, and other key details here

Vikran Engineering IPO Subscription Status: The three-day subscription window for the initial public offering (IPO) of Vikran Engineering is set to close today, August 29, 2025. The ₹772 crore offering, which opened for subscription on Tuesday, August 26, has received a decent response from investors so far.

 

According to data available on the National Stock Exchange (NSE), Vikran Engineering's IPO has received bids for 87,07,26,328 shares against 5,87,39,128 shares on offer till 02:00 PM on August 29. This translates to an oversubscription of 14.82 times.

 

Among the individual categories, Non-institutional investors (NIIs) have placed the highest bids, oversubscribing their category by 143.26 times. This is followed by retail investors, who bid for 9.20 times the shares allocated to them. The qualified institutional buyers (QIBs), on other hand, have oversubscribed their category by 3.33 times.

 

Vikran Engineering IPO details

The public offering of Vikran Engineering consists of a fresh issue of 74.3 million equity shares, along with an offer for sale (OFS) from promoter Rakesh Ashok Markhedkar, who is divesting up to 5.3 million equity shares.

 

The Vikran Engineering IPO is priced within a band of ₹92–₹97 per share, with a lot size of 148 shares. Investors can bid for a minimum of 148 shares and in multiples thereafter.

 

A retail investor would need a minimum of ₹14,356 to bid for one lot (148 shares) at the upper price band. Retail investors can bid for a maximum of 13 lots or 1,924 shares, with an investment of ₹1,86,628.

Vikran Engineering IPO grey market premium (GMP) today

The unlisted shares of Vikran Engineering are commanding a decent premium in the grey market on the final day of subscription. Sources tracking unofficial market activities have revealed that the company’s shares are trading at ₹109 apiece, reflecting a grey market premium (GMP) of ₹12 or 12.37 per cent over the upper end of the issue price.

Vikran Engineering IPO review

Vikran Engineering has received generally favorable reviews from brokerages. Analysts at Arihant Capital have recommended investors to subscribe to the public issue, while those at Anand Rathi Research have suggested subscribing for the long term. READ MORE

Vikran Engineering IPO timeline

With the public offering closing for subscription today, the basis of allotment for Vikran Engineering IPO shares is expected to be finalised on Monday, September 1. The company’s shares will be credited to demat accounts tentatively on Tuesday, September 2.

 

Shares of Vikran Engineering are expected to debut on D-Street by listing on the BSE and NSE on Wednesday, September 3.

Vikran Engineering IPO registrar, BLRM details

Bigshare Services is serving as the registrar for Vikran Engineering IPO, while the book-running lead managers are Pantomath Capital Advisors, and Systematix Corporate Services.

Vikran Engineering IPO objective

Vikran Engineering will not receive any proceeds from the OFS. "The Promoter Selling Shareholder will be entitled to his proceeds from the Offer for Sale. Our Company will not receive any proceeds from the Offer for Sale," the company stated in its Red Herring Prospectus (RHP).

 

However, the company intends to use the proceeds from the fresh issue for working capital requirements and general corporate purposes.

 

About Vikran Engineering

Vikran Engineering Limited, founded in 2008 and headquartered in Thane, Maharashtra, is a diversified engineering and infrastructure solutions company. The company leverages technical expertise, industry partnerships, and decades of promoter experience to deliver high-quality engineering, procurement, and construction (EPC) services. With a focus on reliability, innovation, and execution excellence, Vikran Engineering caters to industrial, power, and infrastructure projects, positioning itself as a trusted partner for large-scale development initiatives across India.