Vikran Engineering Filed DRHP With SEBI to Raise ₹1,000 Crore

Vikran Engineering Ltd, an Engineering, Procurement and Construction (EPC) company engaged in power, water and railway infrastructure, has filed its draft red herring prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO) of ₹1,000 crore. 

Vikran Engineering IPO is a mix of fresh issue of shares worth ₹900 crore and an offer for sale (OFS) of up to ₹100 crore by promoter selling shareholders Rakesh Ashok Markhedkar. The company has appointed Pantomath Capital Advisors and Systematix Corporate Services as the book-running lead managers, while Bigshare Services is the registrar of the issue.

Purpose of Vikran Engineering IPO

Fresh Issue

The proceeds from the fresh issue will be used for the following 

• Funding the working capital requirements of the company.
• General corporate purposes.

Offer For Sale

The funds from OFS will be taken by the selling shareholders in their proportion.

About Vikran Engineering Ltd

Incorporated in 2008, Vikran Engineering Ltd provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis. The company follows an asset-light model by executing more orders with lower investment in fixed assets. The company enjoys a rich presence across multiple sectors including power, water, and railway infrastructure. The company’s order book witnessed a growth from ₹517 crore in FY22 to ₹2,114.80 crore in FY24. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.