The issue opened for bidding on 26 August 2025 and it will close on 29 August 2025. The price band of the IPO is fixed between Rs 92 and 97 per share. An investor can bid for a minimum of 148 equity shares and in multiples thereof.

The IPO comprises both fresh issue and an offer for sale. The fresh issue comprises issue of equity shares aggregating up to Rs 721 crore and an offer for sale of up to Rs 51 crore by Rakesh Ashok Markhedkar, one of the promoters of the company.

Of the net proceeds from the fresh issue, the company intends to use Rs 541 crore for funding working capital requirements and the balance for general corporate purposes.

Vikran Engineering, promoted by Rakesh Ashok Markhedkar, Avinash A. Markhedkar, and Nakul Markehdkar, provides end-to-end services from conceptualization, design, supply, installation, testing and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.

In the power sector, the company has a presence in both power transmission and power distribution.The company also has experience in Solar EPC of ground-mounted solar projects and smart metering. In the water sector, its projects include underground water distribution and surface water extraction, overhead tanks, and distribution networks.

As of June 30, 2025, it had completed 45 projects across 14 states, with a total executed contract value of Rs 1919.92 crore.

Ahead of the IPO, Vikran Engineering on Monday, 25 August 2025, raised Rs 231.59 crore from anchor investors. The board allotted 2,38,76,287 shares at Rs 97 each to 14 anchor investors.

The firm reported a consolidated net profit of Rs 20.52 crore and total income of Rs 120.29 crore for the twelve months ended on 31 March 2025.

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