Vikran Engineering IPO Day 2 Live: Issue subscribed 2.38x so far. GMP signals 13.40% listing pop

Vikran Engineering IPO Day 2 Live: Vikran Engineering IPO subscription status of 2.38 times on the first day. The retail segment was subscribed 2.32 times, while the non-institutional investor (NII) segment received 5.15 times the bids, and the Qualified Institutional Buyers (QIB) portion garnered 41% of the bids. Vikran Engineering, which specializes in infrastructure as an EPC company, will open its subscription window from August 26 to August 29. The price range for Vikran Engineering IPO has been set between ₹92 and ₹97 per share. Vikran Engineering IPO consists of a fresh issuance of shares estimated to raise around ₹721 crore along with an offer-for-sale component valued at ₹51 crore from the promoter. Vikran Engineering IPO GMP today or grey market premium is +13. The firm based in Mumbai aims to utilize ₹541 crore from the fresh issue to address working capital requirements, while the remainder will be directed towards general corporate purposes. Vikran Engineering is recognized as one of the fast-growing EPC companies in India, providing a full spectrum of services from initial design and conceptualization to supply, installation, testing, and commissioning on a turnkey basis. (Stay tuned for more updates)