Supported by selection framework investors such as Ashish Kacholia, Mukul Agrawal and The Wealth Company, the Thante Based Engineering, Procurement and Construction (EPC) company wants to strengthen its working capital base and finance general business purposes by the issue.
The IPO consists of a new edition of shares worth RS 721 Crore and an offer for sale of RS 51 Crore. The price band is set at RS 92–97 per share, and the company will be mentioned on both BSE and NSE. Investors can offer in many 148 shares.
Although there is an Ashish Kacholia factor for a strong interest from investors, the GMP is relatively moderate, this is what top brokers say about what works for the IPO
Adroit Financial Services: Subscribe to long -term
Adroit Financial is positive about Vikran Engineering and emphasizes the strong track record of implementation, diversified portfolio and coordination with government infrastructure push. The company recommends investors “subscribing to long-term” with reference to stable revenue growth, efficient asset light model and rising opportunities in renewable energy sources and railways.
Lakshishree: Subscribe to long -term
Lakshmishree also gave a “subscribe to long -term” call. The brokerage pointed out that Vikran’s income grew with a CAGR of more than 32% between FY23 – FY25, and the visibility of the order book is strong with 2.7x FY25 turnover. It is of the opinion that the financial statistics of the company such as ROE of 16.6% and the improvement of the EBITDA margins make a compelling bet in the long term.
Anand Rathi: Subscribe
Anand Rathi advised a “subscribe” assessment, referring to the robust order book of Vikran, the growing presence in all states and the increasing share in EPC projects with high margins and railway. It noted that the efficient business model of the company for asset light makes scalability possible while maintaining a lean balance.
Arihant Capital: Subscribe to long -term
Arihant Capital echoed the bullish attitude and insisted in investors ‘to subscribe to long -term’. It emphasized the national presence of the company, diversified implementation options and coordination with government programs such as Jal Jeevan Mission and National Solar Mission.
BP -shares: Subscribe
BP shares have also assigned a “subscribe” rating, which states that Vikran Engineering is well placed to take advantage of the growth cycle of the India guided by the India. The recommendation is based on strong financial growth and visibility in future EPC orders from the government.
Nirmal Bang: Subscribe in the long term
Nirmal Bang took a positive vision and advised ‘Subscribe in the long term’ and noted that the focus of the company on asset light activities and strong government tires will probably support sustainable growth and margin extension.
Reliance Securities (Wealthyvia Research): Subscribe
Reliance Securities, via Wealthyvia Research, also advised ‘Subscribe’, pointing to the scalable EPC platform of Vikran, Pan-India activities and participation in critical projects such as High-Speed ​​Rail and large solar PV projects.
SBI Securities: Neutral
SBI Securities, on the other hand, maintained a ‘neutral’ image, with reference to that although Vikran has shown strong growth, the valuations appear to be stretched compared to peers. It marked risks such as government contract dependence, high working capital needs and recent causes for regulations.
(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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