Vikran Engineering shares list at 2% premium; book profit or hold?

Vikran Engineering share price: Vikran Engineering share listed at ₹99.70 per share on the BSE, reflecting a premium of ₹2.70 per share, or 2.78 per cent over the issue price of ₹97

Vikran Engineering IPO listing price, Vikran Engineering share price:  Shares of engineering, procurement, and construction (EPC) company Vikran Engineering made a respectable debut on the stock exchanges following the completion of its Initial Public Offering (IPO).  Vikran Engineering share listed at ₹99.70 per share on the BSE, reflecting a premium of ₹2.70 per share, or 2.78 per cent over the issue price of ₹97. On the National Stock Exchange (NSE), the company’s shares listed at ₹99, representing a gain of ₹2 per share, or 2.06 per cent above the issue price.

 

While Vikran Engineering IPO listing was positive, it came in slightly below grey market expectations. Prior to the debut, Vikran Engineering’s unlisted shares were trading at around ₹101.10, which indicated a grey market premium (GMP) of ₹4.10 per share, or approximately 4.23 per cent over the IPO price.  

Should you book profit or hold?

Shivani Nyati, Head of Wealth at Swastika Investmart, recommends that investors hold their positions, with a stop-loss near ₹89 to manage potential volatility. Nyati highlighted that the company is a leading EPC player in power transmission, water infrastructure, and railway electrification projects. It operates with an asset-light model and has a strong execution track record. She further noted that the company has robust growth visibility, supported by a healthy order book of ₹2,442 crore and government infrastructure spending. 

 

 

"The strong order pipeline is expected to drive medium-term upside," said Nyati.

    ALSO READ | Urban Company IPO opens on Sept 10: Check price band, key dates, lot size

Vikran Engineering IPO details 

Vikran Engineering IPO comprised a fresh issue of 74.3 million equity shares, raising ₹721 crore, along with an offer for sale (OFS) of 5.3 million shares amounting to ₹51 crore. The issue was offered in a price band of ₹92 to ₹97 per share and was open for subscription from August 26 to August 29, 2025. The IPO was met with strong investor demand, ending up oversubscribed by 23.59 times. The basis of allotment was finalised on September 1, 2025, and the company set the final issue price at ₹97 per share.

 

According to the Red Herring Prospectus (RHP) filed by the company, Vikran Engineering will not receive any proceeds from the offer for sale. These funds will go to the selling shareholders after deduction of their share of offer-related expenses and applicable taxes. However, the company plans to utilise the proceeds from the fresh issue to fund its working capital requirements and to support general corporate purposes. This strategic allocation of funds aims to support the company’s ongoing projects and operational expansion.

 

Bigshare Services acted as the registrar to the IPO. Pantomath Capital Advisors, and Systematix Corporate Services were appointed as the book-running lead managers to the issue.   ALSO READ | Anlon Healthcare makes flat D-street debut, lists at ₹92 on NSE SME

About Vikran Engineering

Founded in 2008 and headquartered in Thane, Maharashtra, Vikran Engineering Limited is a diversified engineering and infrastructure solutions provider. The company brings together technical expertise, long-standing industry partnerships, and decades of promoter experience to deliver high-quality EPC services. With a strong focus on reliability, innovation, and execution excellence, Vikran Engineering serves clients in industrial, power, and infrastructure sectors. Over the years, it has positioned itself as a trusted partner in large-scale development initiatives across India.