Vikran Engineering IPO: Price Band, Dates, Key Details 2025

by Priya Bhatiya

Posted on August 19, 2025

Vikran Engineering IPO Launch Details

Vikran Engineering, a notable player in the Engineering, Procurement, and Construction (EPC) sector, is all set to debut its Initial Public Offering (IPO) with a price band fixed at ₹92-97 per share. This much-anticipated IPO has garnered interest from investors across categories due to the company’s robust financials, sectoral diversification, and clear growth strategy.

Key IPO Details

• Price Band: The IPO is priced in the range of ₹92-97 per equity share, carrying a face value of ₹1 each.
• Issue Period: The IPO opens for subscription on August 26, 2025 and will conclude on August 29, 2025.
• Listing: Shares are proposed to be listed on both the BSE and NSE, with the tentative listing date set for September 3, 2025.
• Lot Size & Minimum Investment: While the specific minimum lot size is 148 shares (minimum investment around ₹14,356), retail investors can subscribe for up to 13 lots to maximize their subscription allotment potential.
• Total Issue Size: The IPO is a book-built issue of approximately ₹1,000 crores, composed primarily of a fresh issue worth ₹900 crores.
• Allotment & Refunds: The allotment is scheduled for September 1, 2025, with refunds and credits to Demat accounts on September 2, 2025.
• Objectives of Issue: Funding working capital requirements and general corporate purposes.
• Quotas: QIB 50%, NII (HNI) 15%, Retail 35%.
• Face value: ₹1 per equity share.
• Key Valuations (FY2024):
  • Return on Equity (RoE): 25.69%
  • Return on Capital Employed (RoCE): 30.37%
  • EBITDA Margin: 16.96%
  • PAT Margin: 9.46%
  • Debt to Equity Ratio: 0.63
  • EPS: ₹4.92
  • Net Asset Value: ₹17.20
• Objects of the Issue: Funding working capital requirements and general corporate purposes.
• Competitive Peers: Includes companies like Bajel Projects, Kalpataru Projects International, Techno Electric & Engineering, SPML Infra, and KEC International.

The retail portion of the IPO is set at 35%, with the remainder allocated for institutional and HNI investors. Promoters of the company include Rakesh Ashok Markhedkar, Avinash Markhedkar, and Nakul Markhedkar.

Financial Highlights

Vikran Engineering has demonstrated strong financial growth over recent years:

• Revenue: ₹791.44 crore in FY2024, up from ₹529.18 crore in FY2023.
• Profit After Tax: ₹74.83 crore in FY2024, compared to ₹42.84 crore in FY2023.
• Return on Equity (RoE): 25.69%
• Return on Capital Employed (RoCE): 30.37%
• EBITDA Margin: 16.96%
• PAT Margin: 9.46%
• Debt to Equity: 0.63
• Earnings Per Share (EPS): ₹4.92
• Net Asset Value: ₹17.20

Purpose of the Issue

Funds raised are earmarked for meeting working capital requirements and general corporate purposes, reinforcing the company’s ability to take on larger, more diverse EPC projects and to further consolidate its sectoral position.

Key Competitive Peers

Vikran Engineering operates alongside recognized companies such as Bajel Projects, Kalpataru Projects International, Techno Electric & Engineering, SPML Infra, and KEC International, further emphasizing its standing in the sector.

IPO Application and Allotment

Investors looking to apply for the IPO can do so via their broker platforms, using their PAN, Demat account, or application number. Allotment status can be checked after September 1, 2025, through the registrar (Bigshare Services Pvt Ltd) and stock exchange websites.

Ref: Vikran Engineering IPO: Price band set at ₹92-97 per share; check details