Vikran Engineering IPO Update: Grey-Market Premium Holds, Analysts Say ‘Subscribe’
Vikran Engineering IPO sees massive demand—₹13 GMP, 40× overall subscription. Experts recommend ‘subscribe’ ahead of closing.
Vikran Engineering IPO Day 3: Retail 7.8×, NII 27×, GMP ₹13 – What Next?
The Vikran Engineering IPO has entered its final day of bidding with massive demand, logging 40.17× overall subscription by 12:24 PM on day 3. Despite recent stock market volatility, the grey-market premium (GMP) stands at ₹13, reflecting continued investor confidence in this Ashish Kacholia- and Mukul Agrawal-backed company.
Key Subscription Metrics
♦ Overall subscription: 40.17×
♦ Retail portion: 7.84×
♦ Non-Institutional Investors (NII): 27.84×
♦ Qualified Institutional Buyers (QIB): 1.00×
The overwhelming interest—particularly from NIIs—highlights strong appetite for the issue ahead of its 29 August 2025 closing date.
Grey-Market Sentiment (GMP) – ₹13 Premium
The Vikran Engineering IPO GMP today is ₹13, slightly lower by ₹1 from Thursday’s ₹14. Market experts note that this minor dip is negligible, especially compared to broader market weakness, and attribute the steady premium to robust subscription numbers.
Analysts’ Review – Broad ‘Subscribe’ Consensus
♦ BP Equities: “At a P/E of 22.3x (FY25), the IPO trades at a discount versus peers. We recommend ‘SUBSCRIBE’.”
♦ Geojit Securities: “At ₹97 price band, the P/E of 32x is fairly priced. With a diversified order book, EPC expertise, and alignment with government schemes like Jal Jeevan Mission and RDSS, we see strong growth potential. ‘SUBSCRIBE’ for long-term investors.’”
♦ Other Brokerages: Anand Rathi, Ventura Securities, Nirmal Bang, Canara Bank Securities, Arihant Capital, Adroit Financial Services, AUM Capital, Asit C Mehta, Marwadi Shares, and Reliance Securities—all gave ‘SUBSCRIBE’ ratings.
Company Positioning – Why the Buzz?
Vikran Engineering is a fast-growing EPC (Engineering, Procurement, Construction) player with a diversified presence across power transmission, water infrastructure, and railway sectors. Its asset-light model and pan-India operations align with India’s infrastructure push under government initiatives.
What’s Next – Allotment & Listing Dates
♦ IPO allotment date: 30 August 2025 (or 1 September if delayed due to Saturday)
♦ Expected listing date: 3 September 2025
Investors will soon know whether they secured shares in one of 2025’s most talked-about IPOs.
With 40× subscription, ₹13 GMP, and a wall of ‘subscribe’ calls from top brokerages, Vikran Engineering’s IPO looks set for a strong listing. Long-term investors may see this as a strategic bet on India’s infrastructure growth.
