Vikran Engineering IPO: An Overwhelming Response

Vikran Engineering Ltd's IPO received substantial interest, being oversubscribed 5.24 times by the second day. The offering includes both fresh shares and an offer-for-sale by promoters, with funds aimed at meeting working capital needs. The IPO concludes on Friday, with shares priced between Rs 92-97.

Infrastructure company Vikran Engineering Ltd's initial public offering (IPO) has seen an impressive 5.24 times subscription on the second day of bidding, revealing high investor interest.

The IPO, comprising a mix of fresh share issues and an offer-for-sale by the promoter, aims to raise a total of Rs 772 crore. With anchor investors already contributing Rs 231.6 crore, proceeds from the fresh issue will primarily fund working capital, with shares priced between Rs 92-97.

Facilitated by Pantomath Capital Advisors and Systematix Corporate Services, the IPO window closes on Friday. Vikran Engineering shares are set to list on both the BSE and NSE, with a broad range of services in design, supply, and installation.

(With inputs from agencies.)