Anlon Healthcare and Vikran Engineering IPOs witness massive subscription - Will there be a big splash on listing?

News Topical, Digital Desk :  On Tuesday, August 26, two big IPOs, Anlon Healthcare Limited and Vikran Engineering Limited, saw tremendous enthusiasm from investors on the first day in the stock market. Both the IPOs received more than double the subscription of the shares offered.

Anlon Healthcare IPO: 1.69 times subscription
Anlon Healthcare Limited IPO received 1.69 times subscription on the first day. The company had offered 1.33 crore shares, in return for which applications were received for 2.24 crore shares. Retail investors showed the most interest, who applied for 1.19 crore shares against 13.3 lakh shares reserved for themselves, i.e. 8.95 times subscription.

The qualified institutional buyers (QIB) portion received 91% subscription, with subscriptions of 90.9 lakh shares for 99.8 lakh shares. Non-institutional investors (NIIs) applied for 14.2 lakh shares for 20 lakh shares, which is 71% subscription.

Anlon Healthcare is a chemical manufacturing company that manufactures pharmaceutical intermediates and active pharmaceutical ingredients (APIs). These are used in tablets, capsules, ointments, syrups, nutraceuticals, personal care and animal health products. In the financial year 2024-25 (April-March), the company earned a profit of Rs 20.51 crore on an income of Rs 120 crore. 

Vikran Engineering IPO: 2.37 times subscription Vikran Engineering Limited IPO got 2.37 times subscription on the first day. The company had offered 5.87 crore shares, for which applications of 13.98 crore shares were received. Non-institutional investors (NIIs) showed the most enthusiasm, who applied for 6.48 crore shares for 1.25 crore shares, i.e. 5.15 times subscription. Retail investors applied for 6.80 crore shares for 2.93 crore shares, which is 2.31 times subscription. The QIB portion received 41% subscription, with applications for 68.6 lakh shares coming in for 1.67 crore shares. The Vikran Engineering IPO is made up of fresh shares worth Rs 772 crore and an offer for sale (OFS) of shares worth Rs 51 crore by promoter Rakesh Ashok Markhedkar. Ahead of the IPO, the company raised Rs 232 crore from anchor investors by issuing 2.38 crore shares at Rs 97 per share. Vikran Engineering is an engineering, procurement and construction (EPC) company that operates in sectors such as power, water and railway infrastructure. It offers services ranging from concept to design, supply, installation and commissioning. In FY 2024-25, the company posted a net profit of Rs 77.81 crore on revenue of Rs 916 crore. 

What is the premium in the grey market The great response received by both the IPOs on the first day reflects the confidence of the investors. The grey market premium (GMP) of Anlon Healthcare is 5-7%, indicating a listing price of Rs 96 over the upper price band of Rs 91. The GMP of Vikran Engineering is Rs 21, indicating a potential premium listing of 19%. Both IPOs will remain open till August 29, and share allotment will be finalised on September 1. The listing is expected to take place on September 3.

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