Vikran Engineering IPO booked almost 24 times at the end of the 3rd day. Check GMP and other details

Vikran Engineering IPO: The Initial Public Offer (IPO) of Vikran Engineering closed for subscription on Friday, August 29, and received a strong response from investors. The IPO, backed by Ace market investors Ashish Kacholia and Mukul Agarwal, advanced on the first day of the bidding process itself. Vikran Engineering IPO subscription status Vikran Engineering IPO closed on Friday with 23.59 times subscription on the third day of the bid process. The non-institutional investor category has been subscribed to 58.58 times, while the quota for retail investors has been subscribed 10.97 times. The segment qualified institutional buyers (QIBS) received bids 19.45 times. In general, the IPO got a bid for 1,38,59,17,880 shares against 5,87,39,128 shares offered. With the closure of the public offer, the investor focus will now shift to the awards status of Vikran Engineering, which is out on Monday, September 1. Vikran Engineering IPO GMP The Gray Market Premium (GMP) for Vikran Engineering has seen a decline over the past two sessions. From Friday, the IPO GMP of Vikran Engineering was £ 5, lower than £ 13 which it ordered it two days ago. At the prevailing GMP and the £ 97 issue price, the IPO list of Vikran Engineering can take place at £ 102, with 5%. Vikran Engineering IPO details Vikran Engineering IPO is a combination of a new edition of shares of around £ 721 and an offer-for-sales worth £ 51 by the promoter. The company intends to use the returns of the new expense to the amount of £ 541 for the financing of working capital requirements and the rest for general corporate purposes. Vikran Engineering corrected the IPO price band at £ 92-97 per share. Prior to the share sale, the company raised £ 231.6 of anchor investors. Pantomath Capital Advisors and Systematix Corporate Services are the book managers running through the book, while Bigshare Services is the Registrar of the edition. Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or brokerage firms, not coin. We advise investors to consult with certified experts before making investment decisions, as market conditions can change quickly and conditions can vary.