Vikran Engineering IPO to open Tuesday; Here's what GMP signals before launching the edition signals

The Initial Public Offer (IPO) of Vikran Engineering, which will be open to Bie on Tuesday, August 26, recommends a decent Gray Market Premium (GMP). The company intends to increase £ 772 from the issue, with the price tape fixed at £ 92-97 per share. The edition consists of a new edition of 7.43 crore shares that has been combined up to £ 721 crore and an offer for selling 0.53 crore shares that has been merged up to £ 51 crore. Before the bid, the shares trade at a GMP of £ 22 a share, indicating a strong investor sentiment. If the momentum remains steady during the bid period, the stock with healthy profits can debut on Indian exchanges. Based on the top price tire of £ 97, the £ 22 GMP sets a potential listing price of around £ 119, a premium of 22.7% above the IPO price. The Gray Market Premium reflects investors’ willingness to pay above the issue price. For retail investors, the lot size was set on 148 shares, which requires a minimum investment of £ 13,616 per lot. For small non-institutional investors (SNII), the minimum 14 lots (2.072 shares) of £ 2,00,984 are, while for large non-institutional investors (BNII) 70 lots (10.360 shares) amounting to £ 10,04,920. Pantomath Capital Advisors Pvt. Ltd. is the general manager of books, while Bigshare Services Pvt. Ltd. is the registrar of the edition. The award is likely to be completed on Monday, September 1, and the shares are scheduled to list on NSE and BSE on Wednesday. The company proposes to use the returns to finance working capital requirements and for general corporate purposes. About Vikran engineering, according to the company’s RHP, Vikran Engineering is one of the fastest growing Indian engineering, procurement and construction (EPC) firms in terms of turnover growth over FY23–25, which exceeds the growth in operating growth and its peer group. The company has a diversified project portfolio, with the majority of revenue from energy and water infrastructure. It provides services at the end of the end, including conceptualization, design, offer, installation, testing and commissioning on a key base, and has a presence in various sectors such as power, water and railroad infrastructure. Within the power sector, the company has a presence in transfer and distribution. In the water sector, its projects include underground pipelines. In the Railway Segment, this undertakes 132 KV traction -substation projects and underground EHV cable projects. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.