IPO
Vikran Engineering’s Rs.772-Cr IPO oversubscribed 20 times
Thane-based Vikran Engineering's INR 772 crore initial public offer (IPO) received nearly 20 times subscription on the final day of share sale on Friday. The IPO got bids for 114 crore shares against 5.87 crore shares on offer.The category for non-institutional investors garnered 52 times subscription, while the quota for Retail Individual Investors (RIIs) got subscribed 10 times. Qualified Institutional Buyers (QIBs) part received 12 times subscription. Earlier, the firm mobilised INR 231.6 crore from anchor investors.The company will use INR 541 crore from the proceeds towards working capital requirements.Vikran Engineering is an EPC (Engineering, Procurement, and Construction) company, providing solutions in the fields of renewable energy, engineering services, and project management.
Between Jan-24 and Sep-24, Vikran Engineering had attracted about USD 21.92 M from Ashish Kacholia, The Wealth Company, Negen Capital, and others.
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