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Vikran Engineering IPO listing tomorrow: Here’s what GMP hints ahead of listing
Vikran Engineering IPO listing tomorrow: Here’s what GMP, subscription status, expert hint ahead of debut
Vikran Engineering IPO listing date has been scheduled for tomorrow (Wednesday, September 3). Vikran Engineering IPO allotment was finalised yesterday (Monday, September 1). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, September 2. The process of refunding those who have not yet received their shares will likewise be finished today.
The infrastructure EPC company launched its IPO for subscription from Tuesday, August 26 to Friday, August 29. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 58.58 times, followed by qualified institutional buyers (QIBs) at 19.45 times. Retail investors showed a subscription rate of 10.97 times. Notably, on the third day of the IPO, the Vikran Engineering IPO subscription status stood at 23.59 times, as reported by the BSE.
Vikran Engineering IPO reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Bhavik Joshi, the Business Head of INVasset PMS, notes that the market is closely observing Vikran Engineering's upcoming listing as an indicator of the demand for high-growth EPC companies. Priced between ₹92 and ₹97, the offering is considered fully valued based on traditional metrics, yielding a post-issue multiple of approximately 32 times FY25 earnings. Nonetheless, the significant interest from subscribers, along with positive trends in the infrastructure and utilities sectors, suggests a promising market debut.
For investors, the listing should be seen as a beginning of a longer journey rather than merely a one-day occurrence, with potential for value generation through effective project management and ongoing government-led infrastructure investment.
Vikran Engineering IPO GMP today
Let's check what does Vikran Engineering IPO GMP today signal ahead of listing.Vikran Engineering IPO grey market premium is +4.1. This indicates Vikran Engineering share price were trading at a premium of ₹4.1 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vikran Engineering share price was indicated at ₹101.1 apiece, which is 4.23% higher than the IPO price of ₹97.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Vikran Engineering IPO details
The initial public offering features a new share issuance worth ₹721 crore alongside a secondary share sale amounting to ₹51 crore from existing promoters and shareholders. The capital generated from the new share issuance will be allocated to meet the company's working capital requirements.Pantomath Capital Advisors and Systematix Corporate Services are acting as the lead managers for the Vikran Engineering IPO.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Source: LiveMint
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