Maharashtra-based Vikran Engineering, an EPC company specializing in energy and water management, has set the price band for its initial public offering (IPO) at Rs 92–97 per share. The IPO will open for subscription on August 26.
The anchor book will open on August 25, and the issue will close on August 29. The basis of allotment is scheduled for September 1, with refunds and credit of shares expected on September 2. The stock is set to debut on the exchanges on September 3.
The IPO consists of a fresh issuance of shares worth Rs 721 crore and an offer for sale of up to Rs 51 crore by existing promoters and shareholders. Proceeds from the fresh issue will be utilized for the company’s working capital requirements.
Vikran Engineering offers end-to-end services, including conceptualization, design, supply, installation, testing, and commissioning, with a presence in power, water, and railway infrastructure projects for state-owned entities such as NTPC, Power Grid Corporation of India, Transmission Corporation of Telangana, Madhya Pradesh Power Transmission Company, District Water and Sanitation Mission (PHED), and State Water and Sanitation Mission (SWSM).
Pantomath Capital Advisors and Systematix Corporate Services are serving as the book running lead managers for the Vikran Engineering IPO.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice. Stock market investments are subject to risks. Please consult your financial advisor before making any investment decisions.
