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Soon, the IPO of the company invested by Ashish Kacholia and Mukul Agarwal, who are among the leading investors of the stock market, is going to come. This company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore. Know which company is this and what it does.
Vikran Engineering IPO
Mumbai-based Vikran Engineering Ltd has filed DRHP with market regulator SEBI. It does engineering, procurement and construction (EPC) work in power, water and railway infrastructure. Fresh issue of Rs 900 crore The company has planned to raise Rs 1,000 crore through an initial public offering (IPO). This offer includes a fresh issue of Rs 900 crore. Apart from this, there is an offer for sale (OFS) of up to Rs 100 crore from promoter selling shareholder Rakesh Ashok Markhedkar. The amount of Rs 625.5 crore raised from the new issue will be used for the company's working capital and general corporate purposes. As of August 31, 2024, it had worked in 22 states. Some of its customers include NTPC, Power Grid Corporation of India, among others. The company's order book grew from Rs 517 crore in FY22 to Rs 2,114.80 crore in FY24. Its revenue from operations grew 49.56 per cent to Rs 791.43 crore in FY24 from Rs 529 crore in FY23. The company's profit grew 74.67 per cent from Rs 42.84 crore in FY23 to Rs 74.83 crore in FY24.
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