Vikran Engineering IPO Day 3 Live: Issue booked 5.24x so far. GMP hints 12% listing gain

Vikran Engineering IPO Day 3 Live: Vikran Engineering IPO, which started accepting subscriptions on Tuesday, August 26, wraps up today, Friday, August 29. The offering received a good response despite the volatile environment. Vikran Engineering IPO subscription status was 5.24 times on the second day. The retail segment saw a subscription of 5.23 times, while the non-institutional investors (NII) segment received 11.03 times the bids, and the Qualified Institutional Buyers (QIBs) portion achieved 91% of the bids. On the first day, Vikran Engineering IPO subscription status stood at 2.38 times. The retail category was subscribed 2.32 times, with the NII segment attracting 5.15 times the bids, and the QIB portion was filled to 41%. Vikran Engineering, an infrastructure-focused EPC company, will have its subscription period open from August 26 to August 29. Vikran Engineering IPO price band has been established between ₹92 and ₹97 per share. The Vikran Engineering IPO includes a fresh issuance of shares projected to gather approximately ₹721 crore, along with a promoter's offer-for-sale component worth ₹51 crore. Vikran Engineering IPO GMP today or grey market premium is +12. The Mumbai-based firm intends to use ₹541 crore from the fresh issue to fulfill working capital needs, while the remaining funds will be allocated for general corporate purposes. Vikran Engineering is acknowledged as one of India’s rapidly advancing EPC firms, offering comprehensive services that encompass initial design and conceptualization to supply, installation, testing, and commissioning on a turnkey basis. (Stay tuned for more updates)