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News Topical, Digital Desk : Vikran Engineering IPO Listing: Shares of the company invested by veteran investors Ashish Kacholia and Mukul Agarwal have opened with a premium in the market. Vikran Engineering IPO was open for subscription on 26 August and on the very first day it saw tremendous enthusiasm from investors. Now the shares were listed at a premium on BSE and NSE. The stock opened at Rs 99.70 on BSE, which is a premium of 3 per cent over the issue price of Rs 97, while on NSE it was listed at Rs 99 (Vikran Engineering Share Price).
Vikran Engineering IPO Details
Infrastructure EPC company Vikran Engineering's Rs 772 crore IPO was open for subscription from August 26 to August 29. The price band was fixed at Rs 92 to Rs 97 per share. It received 24 times subscription. The company will use the money raised for capex and general corporate needs. Rs 232 crore was raised before the IPO opened Vikran Engineering had raised Rs 232 crore from 14 anchor investors ahead of its Rs 772 crore IPO. For this IPO, investors could bid for a minimum of 148 shares and in multiples thereafter. 50 per cent was reserved for qualified institutional buyers (QIB), 15 per cent for NII and 35 per cent for retail investors. Dividend was announced a day before the IPO. Let us tell you that to increase the confidence of investors, Vikran Engineering also announced a 5 percent dividend for equity shareholders in its Annual General Meeting (AGM) on August 25.
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