The initial public offering (IPO) of EPC firm Vikran Engineering Ltd has closed on a strong note with huge investor demand for all categories. The issue, which was open from August 26 to August 29, is now closed, and attention is shifting to the following significant milestones: allotment, refunds, and listing.
The Vikran Engineering IPO allotment date is September 1, 2025, and the tentative listing will be done on September 3 on both BSE and NSE.
The allotment of shares by the company will be completed in September.
The successful applicants will have the shares credited to their demat accounts by September 2, and refunds for non-allotted shares will also start on that date.
The timeline ensures that all the investors are informed before listing so that they have transparency about their allocations.
Investors can check their allotment status online from BSE, NSE, and the registrar’s IPO portal, Bigshare Services.
BSE: Go to the BSE allotment page, choose ‘Equity’, select Vikran Engineering Limited, enter Application No./PAN, fill captcha, and click ‘Search’.
NSE: Go to NSE’s allotment page, select Equity and SME IPO bids, select Vikran Engineering Limited, enter PAN and Application No., and click ‘Submit’.
Bigshare Services: Go to the registrar portal, select Vikran Engineering Limited, enter the Application Number/Beneficiary ID/PAN, complete the captcha, and click ‘Search’.
The status will be shown immediately after entering the correct details.
According to market experts, the grey market premium (GMP) for Vikran Engineering IPO is Rs 5.5 per share. This means the shares are traded in the unlisted market at Rs 102.5, about 5.67% higher than the higher price band of Rs 97. Though GMP is not an official measure, it provides a sneak peek into market sentiment before listing.
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The IPO was subscribed very well, with 23.59 times overall subscription.
Retail investors: 10.97x
Non-Institutional Investors (NIIs): 58.58x
Qualified Institutional Buyers (QIBs): 19.45x
This strong subscription shows investor faith in the company’s growth prospects.
Vikran Engineering mobilized Rs 772 crore from the IPO. It comprised a fresh issue of Rs 721 crore (7.43 crore shares) and an offer for sale (OFS) of Rs 51 crore (52.57 lakh shares). The price band was Rs 92–97 per share.
Pantomath Capital Advisors Pvt. Ltd. handled the IPO, and Bigshare Services Pvt. Ltd. served as the registrar.
The allotment is to be finalised on September 1 and listed on September 3, while investors will know shortly if the grey market excitement will be converted into gains on opening day.