Vikran Engineering IPO: A Comprehensive Guide for Indian Investors
The initial public offerings (IPO) of Vikran Engineering Ltd., which opened for subscription on August 26, has garnered significant attention from investors. In this article, we will delve into the latest grey market premium (GMP), subscription status, and other key details of the Vikran Engineering IPO.
Vikran Engineering IPO: Subscription Status
The mainboard issue was subscribed 5.24 times on Thursday, as per the NSE data. The mainboard issue received bids for 30,76,74,240 shares against 5,87,39,128 shares on offer. This overwhelming response from investors is a positive indication for the company’s future prospects.
Day 3 Subscription Status
As of 4:03 p.m. on Friday, the IPO of Vikran Engineering was subscribed 23.39 times. The breakdown of the subscription status is as follows:
- Qualified Institutional Buyers (QIBs): 19.45 times
- Non-Institutional Investors: 58.45 times
- Retail Individual Investors (RIIs): 10.62 times
Vikran Engineering IPO: Grey Market Premium (GMP)
The latest GMP for Vikran Engineering IPO stood at Rs 4 as of 3:00 p.m. on August 29. Based on the upper end of the price band of Rs 97, the stock is projected to be listed at Rs 101 apiece. This translates into an expected listing gain of about 4.12% per share.
IPO Details
Here are the key details of the Vikran Engineering IPO:
- Issue Type: Book-built issue
- Issue Size: Rs 772 crore
- Offer Details: Fresh issue of 7.43 crore shares, aggregating to Rs 721 crore, and an offer-for-sale (OFS) of 53 lakh shares, amounting to Rs 51 crore
- Price Band: Rs 92 and Rs 97 per share
- Lot Size: 148 shares, requiring a minimum investment of Rs 14,356 for retail investors
Vikran Engineering: Company Profile
Mumbai-based Vikran Engineering provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis. The company has a presence across multiple sectors, including power, water, and railway infrastructure. Notable clients include NTPC Ltd., Power Grid Corp., and Eastern Central Railway.
Share Allotment and Listing
The share allotment status for Vikran Engineering IPO will be finalised on Monday, September 1. Shares of Vikran Engineering Ltd. will be listed on the BSE and NSE on Wednesday, September 3.
Investment Risks and Considerations
Investments in initial public offerings are subject to market risks. It is essential to consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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