Vikran Engineering IPO Gets 24.87 Times Subscription, Allotment Date, Status, and GMP

Vikran Engineering's IPO has received a strong subscription, with a 24.87 times overall demand. The company's robust order book and diversified presence in core infrastructure sectors are driving investor interest. Investors can check their allotment status through the registrar's website or the exchanges. The stock is expected to list on September 3 on BSE and NSE, with a grey market premium of around 7% over the issue price of Rs 97.

Vikran Engineering Limited, an infrastructure EPC company, has received a robust response to its initial public offering (IPO), with an overall subscription of 24.87 times the issue size. The IPO, which opened on August 26 and closed on August 29, saw strong demand across various investor categories, reflecting investor confidence in the company's growth prospects.

The mainboard IPO was oversubscribed by a significant margin, with the retail portion subscribed 10.97 times, the NII segment 58.58 times, and the QIB segment 0.91 times [1]. The strong subscription indicates that investors are drawn to Vikran Engineering's diversified order book and its presence in core infrastructure sectors such as power transmission, water infrastructure, and railways.

The grey market premium for Vikran Engineering shares today is ₹13, indicating a steady sentiment despite market volatility [2]. The estimated listing price is around ₹102.5 per share, which is a 5.67% premium over the issue price of ₹97 per share.

Investors can check their allotment status through the registrar's website or the exchanges. The allotment is expected to be announced on September 1, with shares to be listed on BSE and NSE on September 3 [3]. The company has raised ₹772 crore from the book-building issue, which includes a fresh issue of 7.43 crore equity shares worth ₹721 crore and an offer-for-sale component of 52.57 lakh shares amounting to ₹51 crore.

References:
[1] https://www.livemint.com/market/ipo/vikran-engineering-ipo-day-3-gmp-subscription-status-to-review-apply-ot-not-11756436322085.html
[2] https://www.business-standard.com/markets/ipo/vikran-engineering-garners-2-38-times-subscription-on-day-1-of-ipo-125082601573_1.html
[3] https://www.livemint.com/market/ipo/vikran-engineering-ipo-allotment-date-soon-latest-gmp-steps-to-check-share-allotment-status-online-11756482902376.html