Vikran Engineering IPO: Rs 232 Crore Raised Through Anchor Allocation
Vikran Engineering Ltd. has raised Rs 231.6 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 2.38 crore shares at Rs 97 apiece to 14 anchor investors.
Anchor Investors and Allocation
Societe Generale-ODI got the highest allocation of 11.5%. Bank of India Small Cap Fund got the second highest allotment of 10% and Nippon India Equity Opportunities AIF-Scheme 8, LC Pharos Multi Strategy Fund VCC – LC Pharos Multi Strategy Fund SF, Negen Undiscovered Value Fund and SBI General Insurance Co got an 8.6% stake in the company.
Domestic Mutual Funds Participation
Four domestic mutual funds have applied through 11 schemes, the company said in an exchange filing on Monday. They have collectively netted 36.70% of the anchor portion. These fund houses include Bank of India, ITI, Samco, and Taurus.
IPO Details
Pantomath Capital Advisors Pvt. Ltd. and Systematix Corporate Services Ltd. are managing the IPO. The company will launch its IPO on Tuesday to sell shares worth up to Rs 772 crore. The IPO consists of a fresh issue of up to Rs 721 crore and an offer for sale of Rs 51 crore. The issue will open on Aug. 26 and conclude on Aug. 29.
Price Band and Investment Details
The price band is set at Rs 92 to Rs 97 apiece. The minimum amount of investment required by a retail investor is Rs 13,616. Investors can bid for a minimum of 148 shares and in multiples thereof.
Utilization of Proceeds
Vikran Engineering intends to use the proceeds from the fresh issue to the extent of Rs 541 crore for funding working capital requirements for fiscal 2025 and 2026. The rest will be deployed for general corporate purposes.
Financial Performance
In the financial year 2025, revenue from operations rose over 16% year-on-year to Rs 916 crore, and net profit rose 4% to Rs 78 crore. On the operating front, Ebitda rose 20% to Rs 160 crore and margin expanded to 17.5% from 16.96%.
For investors looking to participate in the IPO, it’s essential to understand the company’s financial performance and growth prospects. Indian stock market trends and Nifty today updates can provide valuable insights for making informed investment decisions.
