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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Vikran Engineering Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹97
Per ShareLot Size
148 Shares
Minimum Investment
₹14,356
Issue Size
₹772 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
81.78%
Promoter Holding (Post-Issue)
56.17%
Issue Type
Book Building
ISIN
INE01R501028
We are one of the fast-growing Indian Engineering, Procurement and Construction (EPC) company in terms of revenue growth over FY23-25, compared to the average industry growth estimates and the peer set considered. (Source: CRISIL Report). While we are relatively smaller in terms of revenue from operations in comparison to the listed industry peers, our revenue from operations grew at a CAGR of 32.17% from Rs.5,243.05 million in Fiscal 2023 to Rs.9,158.47 million in Fiscal 2025, based on our Restated Financial Information. We have successfully executed projects for government entities, public sector undertakings and private companies. Our focus on operational excellence, and efficient cost structure, and has enabled us to deliver high-value projects that meet stringent regulatory and quality standards (Source: CRISIL Report). We provide end-to-end services from conceptualisation, design, supply, installation, testing and commissioning on a turnkey basis and has presence across multiple sectors including power, water, and railway infrastructure.
Revenue, profit after tax and total assets across the last 2 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of 79,587,627 equity shares of face value of Re. 1/- each ("equity shares") of Vikran Engineering Limited (formerly known as Vikran Engineering & Exim Private Limited) ("company" or "issuer") for cash at a price of Rs. 97/- per equity share (including a share premium of Rs. 96/- per equity share) ("offer price") aggregating to Rs. 772.00 crores comprising a fresh issue of 74,329,896 equity shares aggregating to Rs. 721.00 crores by the company ("fresh issue") and an offer for sale by Rakesh Ashok Markhedkar of 5,257,731 equity shares aggregating to Rs. 51.00 crores ("offered shares") ( "promoter selling shareholder") and such offer for sale, together with the fresh issue, the "offer". The offer constitutes 30.86% of the post-offer paid-up equity share capital.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
The transmission sector, a crucial part of the power industry, required more attention to meet the growing demand for electricity and the expanding generation capacity. Existing investments from budgets, internal funds, and PSU loans were insufficient to meet this demand. To address this issue, the Electricity Act allowed private companies to participate in the power transmission sector through a competitive bidding process called tariff-based competitive bidding (TBCB). The National Tariff Policy of 2006 provided guidelines for this process, aiming to promote competition, attract private investment, and increase transparency in constructing transmission infrastructure. India stands out as one of the few countries that have opened its transmission sector to private participation, generating significant interest from private businesses. The Electricity Act, 2003 coupled with TBCB for power procurement, encouraged private participation in the power transmission sector and has supported the growth of transmission lines in India sector. Purely for water supply projects, more than 95% of project investments happen via the EPC route. Considering wastewater treatment and water supply projects together, it is estimated that 80-90% of investments in the sector happen via the EPC route, while the rest happen via public private partnership (PPP). Indian Railways have prepared a National Rail Plan (NRP) for India - 2030. The Plan is to create a `future ready' Railway system by 2030. The NRP is aimed to formulate strategies based on both operational capacities and commercial policy initiatives to increase modal share of the Railways in freight to 45%. The objective of the Plan is to create capacity ahead of demand, which in turn would also cater to future growth in demand right up to 2050 and also increase the modal share of Railways to 45% in freight traffic and to continue to sustain it.
Our Company was originally incorporated as `Ratangiri Financial Advisory Private Limited', as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated June 4, 2008 issued by the Deputy Registrar of Companies, West Bengal at Kolkata. Pursuant to a special resolution passed by the Shareholders of our Company at the extra-ordinary general meeting held on July 31, 2015, the name of our Company was changed to `Vikran Engineering & Exim Private Limited' due to change in the nature of business and a fresh certificate of incorporation pursuant to change of name dated August 7, 2015 was issued by the Registrar of Companies, Kolkata. Subsequently, the Board determined it would be appropriate to change the name of the Company as a part of strategic corporate rebranding, and to align more closely with the core business activities, and pursuant to a special resolution passed by the Shareholders of our Company at the extra-ordinary general meeting held on June 17, 2024, the name of our Company was changed to `Vikran Engineering Private Limited' and a fresh certificate of incorporation dated July 30, 2024 was issued by the Registrar of Companies, Central Processing Centre. Thereafter, our Company was converted to a public limited company, pursuant to a special resolution passed by the Shareholders of our Company at the extra-ordinary general meeting held on August 12, 2024, the name of our Company was changed to `Vikran Engineering Limited' and a fresh certificate of incorporation consequent upon conversion to public limited company dated September 20, 2024, was issued to our Company by the RoC.
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY25 to FY26.