Vikran Engineering IPO GMP Rallies 21% Before Opening; Subscribe or Skip This Hot Pick?

Vikran Engineering IPO will open for public subscription tomorrow, and investors are already very keen on the issue. This EPC company is seeing a huge interest in the grey market, as the IPO is trading at a healthy premium well above its issue price. Vikran Engineering IPO is expected to gather strong demand once it opens for subscription tomorrow, August 26th

Vikran Engineering IPO Latest GMP

The IPO has been seeing a massive demand in the grey market for the last few days. trading at around Rs. 118 per share, a 21.6% jump over the upper issue price of Rs. 97. However, the GMP has slightly eased and is currently around Rs. 17 as of 11:00 AM on August 25, 2025. Based on the latest grey market trends, the Vikran IPO listing price is expected at approximately Rs. 114 per share, implying a potential 17.53% premium over the issue price.

Vikran Engineering IPO Details

Vikran Engineering IPO aims to raise around Rs 772 crore through the book-building route, consisting of both a fresh issue and an offer for sale (OFS) of 0.53 crore. The IPO price band has been fixed between Rs 92 and Rs 97 per share, will open for subscription on August 26th and will close on August 29th. The basis of allotment is expected on September 1st, while the company is likely to be listed on both BSE and NSE on September 3rd.

Brokerages' Views on the Vikran Engineering IPO

Analyst sentiment is largely positive, with several brokerage firms issuing 'Subscribe' ratings for the IPO:

Reliance Securities note said, "Vikran Engineering's strong EPC order book of Rs. 7,009.25 million across power, water, and railway sectors, improving operational efficiency, and participation in high-value projects make it an attractive investment. We recommend Subscribe."

Arihant Capital, in its report, said, "The company's focus on capitalising on government schemes like the Revamped Distribution Sector Scheme and Jal Jeevan Mission, along with its expansion into railways, metro, and solar sectors, positions it well. At the upper price band, the P/E stands at 32.15x based on FY25 EPS of Rs. 3. We recommend Subscribe."

Overall, around 66% of analysts tracking the IPO have issued a Buy/Subscribe call out of the nine brokerage reports available so far.

About the Vikran IPO

Incorporated in June 2008 and based in Thane, Vikran Engineering Ltd is a rapidly growing EPC (Engineering, Procurement & Construction) firm. The company offers turnkey solutions across power transmission and distribution, water supply, railway electrification, metro infrastructure, and solar projects. Vikran provides end-to-end services including design, supply, installation, testing, and commissioning, with projects spanning 14-16 states.

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