IPO Trending
VIKRANEQ / NSE, BSEListed
Vikran Engineering

Vikran Engineering Limited operates across multiple infrastructure sectors, with a strong focus on power transmission and distribution. The company handles extra-high voltage substations up to 400kV and transmission lines up to 765kV, along with rural electrification and network expansion projects. It is also active in water infrastructure, executing underground distribution, surface water extraction, treatment plants, and rainwater harvesting systems. In railways, the company undertakes electrification projects such as overhead electrification, traction substations, and related networks. Additionally, it is expanding in solar EPC, delivering turnkey PV projects, balance of system solutions, utility-scale solar farms, and rooftop installations. As of August 31, 2024, the company has completed 44 projects across 11 states with a total contract value of ₹18,958.14 million. It has 34 ongoing projects across 17 states worth ₹39,570.55 million, with an Order Book of ₹19,557.00 million. Major government clients include NTPC, Power Grid Corporation of India, South and North Bihar Power Distribution Companies, and Transmission Corporation of Telangana. With 195 sites and store locations nationwide, Vikran Engineering has built a strong pan-India presence. The company focuses on efficiency, cost control, and quality standards, ensuring timely project execution and safety under its “zero accident” policy. Its core values emphasize employee satisfaction, long-term customer relationships, and sustainability. Positioned as a key player in India’s infrastructure sector, it combines a diversified portfolio with a proven track record. The IPO proceeds will primarily fund working capital needs of ₹625.5 crores, representing 70% of the issue, with the balance allocated for general corporate purposes, capped at 25% of gross proceeds.

₹92 - ₹9724.91x sub
Listed Price₹99.70
Listing Gain+2.78%

IPO Schedule & Timeline

Bookbuilding IPO
Open26 Aug 2025
Close29 Aug 2025
Allotment01 Sep 2025
Listing03 Sep 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor2,38,76,287 shares
30%
QIB1,59,17,527 shares
20%
HNI1,19,38,144 shares
15%
Retail2,78,55,670 shares
35%

Minimum Application Lots

Retail1 Lot (148 shares)
₹14,356
sHNI14 Lots (2,072 shares)
₹2,00,984
bHNI70 Lots (10,360 shares)
₹10,04,920

Company Promoters

Rakesh Ashok MarkhedkarAvinash MarkhedkarNakul Markhedkar

Company Background

Vikran Engineering Limited operates across multiple infrastructure sectors, with a strong focus on power transmission and distribution. The company handles extra-high voltage substations up to 400kV and transmission lines up to 765kV, along with rural electrification and network expansion projects. It is also active in water infrastructure, executing undergr...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Mar-25)₹922.4 Cr
Growth+74.3%
Revenue Trend (₹ in Crores)
0.0353.6707.21.1kMar-23Mar-24Mar-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Mar-25922.477.81,354.7272.9
Mar-24791.474.8959.8183.4
Mar-23529.242.8712.5154.9

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Mar-254.3516.63%23.34%22.8832.15
Mar-244.9225.69%30.43%00
Mar-232.8932.67%28.04%00

Peer Comparison & Valuation

Financial Performance

Vikran Engineering

NAV/Share (₹)25.49
RONW(%)16.63
EPS (Basic) (₹)4.35

Bajel Projects

NAV/Share (₹)57.63
RONW(%)2.32
EPS (Basic) (₹)1.34

Kalpataru Projects International

NAV/Share (₹)378.80
RONW(%)8.77
EPS (Basic) (₹)35.53

Techno Electric & Engineering

NAV/Share (₹)321.55
RONW(%)11.31
EPS (Basic) (₹)37.19

SPML Infra

NAV/Share (₹)107.43
RONW(%)6.22
EPS (Basic) (₹)7.61

KEC International

NAV/Share (₹)200.88
RONW(%)10.67
EPS (Basic) (₹)21.8

Transrail Lighting

NAV/Share (₹)140.11
RONW(%)17.36
EPS (Basic) (₹)25.72

Valuation

Vikran Engineering

P/E(X)NA
CMP* (₹)NA
Face value (₹)1

Bajel Projects

P/E(X)158.75
CMP* (₹)212.72
Face value (₹)2

Kalpataru Projects International

P/E(X)34.68
CMP* (₹)1,232.10
Face value (₹)2

Techno Electric & Engineering

P/E(X)40.17
CMP* (₹)1,493.50
Face value (₹)2

SPML Infra

P/E(X)36.79
CMP* (₹)279.95
Face value (₹)2

KEC International

P/E(X)35.71
CMP* (₹)778.55
Face value (₹)2

Transrail Lighting

P/E(X)30.73
CMP* (₹)790.4
Face value (₹)2

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Bigshare Services Private Limited

Allotment Finalized
Allotment Date
01 Sep 2025
Official Status
Out / Finalized
Registrar
Bigshare Services Private Limited
Listing Date
03 Sep 2025

Official Allotment Verification Links

Official Registrar Portal
Bigshare Services Private Limited

Direct allotment verification on the official registrar portal appointed for Vikran Engineering. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization01 Sep 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date03 Sep 2025Trading commences on exchange

How to Check Vikran Engineering Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Vikran Engineering from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Allotment FAQs & Help

About Vikran Engineering IPO

Complete issue overview for Vikran Engineering (VIKRAN) IPO. The issue features an equity share price band of ₹92 – ₹97 per share with a minimum retail lot size of 148 Shares (minimum application amount of ₹14,356). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions