Vikran Engineering Limited has fixed the price band of Rs 92/- to Rs 97/- per Equity Share of face value Rs 1/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, August 26, 2025, for subscription and close on Friday, August 29, 2025. Investors can bid for a minimum of 148Equity Shares and in multiples of 148Equity Shares thereafter.The IPO is a mix of fresh issue of shares up to Rs 721 crore and an offer for sale up to Rs 51 crore by Rakesh Ashok Markhedkar. The proceeds from the fresh issue to the extent of Rs 541 crore for funding working capital requirements of the company; and general corporate purposes.Vikran Engineering is one of the fast-growing Indian Engineering, Procurement and Construction (EPC) company 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. In the water sector, its projects include underground water distribution and surface water extraction, overhead tanks, and distribution networks. The company also has experience in Solar EPC of ground mounted solar projects and smart metering.As of June 30, 2025, it has successfully completed 45 projects across 14 states with a total executed contract value of Rs 1,919.92 crore. The company has 44 ongoing projects across 16 states, aggregating orders of Rs 5,120.21 crore, of which Order Book of Rs 2,442.44 crore.The company’s clients from the government sector include NTPC Limited, Power Grid Corporation of India Limited, South Bihar Power Distribution Co. Ltd., North Bihar Power Distribution Co. Ltd., Transmission Corporation of Telangana Limited, Madhya Pradesh Power Transmission Company Limited, Madhya Pradesh Madhya Kshetra Vidyut Vitran Company Limited, District Water and Sanitation Mission (PHED) and State Water and Sanitation Mission (SWSM). Further it is also working on certain projects for Assam Power Distribution Company Limited and the Danapur division of the Eastern Central Railway.
