Company has a diversified project portfolio, with majority revenue from energy and water infrastructure verticals
MUMBAI, Sep1 (The CONNECT) -The Initial Public Offering of Vikran Engineering Limited was subscribed 23.59 times on Friday, the final day of bidding.
The issue received bids of 1,38,59,17,880 shares against the offered 5,87,39,128 equity shares, at a price band of ₹92-97, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Qualified Institutional Buyer Portion were subscribed 58.58 times and 19.45 times respectively, whereas Retail Portion was subscribed 10.97 times.
Pantomath Capital Advisors Limited, and Systematix Corporate Services Limited are the book-running lead managers, and Bigshare Services Private Limited is the registrar of the issue.
Company Information
Vikran Engineering is one of the fast-growing Indian Engineering, Procurement and Construction (EPC) companies in terms of revenue growth over FY23-25, compared to the average industry growth estimates and the peer set considered. (Source: CRISIL Report). The company has a diversified project portfolio, with majority revenue from energy and water infrastructure verticals. It provides 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.
In the power sector, the company has presence in both- power transmission and power distribution. In the water sector, its projects include underground water distribution and surface water extraction, overhead tanks, and distribution networks. The company has 44 ongoing projects across 16 states, aggregating orders of ₹ 5,120.21 crore, of which Order Book of ₹ 2,442.44 crore.
