Vikran Engineering IPO: Price band set at ₹92-₹97 per share; check lot size and other details

Vikran Engineering IPO: The initial public offering of Vikran Engineering, an Engineering, Procurement, and Construction (EPC) company, has fixed a price band of ₹92 to ₹97 per share. The subscription window will open on Tuesday, August 26, and conclude on Friday, August 29.

The IPO, valued at ₹772 crore, comprises a fresh issue of 7.43 crore shares worth ₹721 crore and an offer for sale of 0.53 crore shares totalling ₹51 crore.

The allocation for anchor investors will take place on Monday, August 25. The lot size has been set at 148 equity shares, and in multiples of 148 thereafter.

In terms of investor categories, not more than 50% of the issue is reserved for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and not less than 35% for retail participants.

As per the proposed timeline, the basis of allotment will be finalised on Monday, September 1. Refunds will be initiated on Tuesday, September 2, with shares credited to the demat accounts of successful allottees on the same day. The company’s equity shares are expected to be listed on both BSE and NSE on Wednesday, September 3.

Rakesh Ashok Markhedkar, Avinash Markhedkar and Nakul Markhedkar are the company’s promoters.

The company undertakes projects in underground water distribution, surface water extraction, overhead tanks, and distribution networks. Its operations span multiple sectors, including power transmission and distribution with specialisation in extra-high voltage substations up to 400kV, water infrastructure, railway infrastructure, and solar EPC projects.

As of June 30, 2025, it has completed 45 projects across 14 states with a total executed contract value of ₹1,919.91 crore, while 44 projects are currently ongoing across 16 states, aggregating ₹5,120.20 crore, of which the order book stands at ₹2,442.43 crore.

The company’s government clients include NTPC Limited, Power Grid Corporation of India Limited, South Bihar Power Distribution Co. Ltd., North Bihar Power Distribution Co. Ltd., Transmission Corporation of Telangana Limited, among others.