Vikran Engineering IPO Subscribed in Hours - Order Book & Dividend Spark Rally

Vikran Engineering’s ₹772-crore IPO was subscribed fully in hours today, led chiefly by robust buying from high net worth individuals and retail investors. Until 2:39 p.m. IST, bids had already crossed 1.67 times the issue size, indicating strong early demand.

HNIs and Retail Push IPO Uptick, Grey Market Confirms Momentum

NII category is exceptional with 3.3× subscription, driven by high-net-worth investors (HNIs investing above ₹10 lakh) who increased their subscription to 3.47×. Retail investors trailed with 1.77× subscription. At the back-end trailed Qualified Institutional Buyers (QIBs) were at mere 0.26×, leaving scope for additional demand.

Vikran Engineering’s IPO is buoyed by robust anchor investor support, with marquee names like Bank of India Mutual Fund, SBI General Insurance, and Nippon India Equity Opportunities AIF, among others, cornering a sizeable chunk (₹232 crore) of shares at ₹97 per equity.

In addition, Vikran declared a 5% dividend to current shareholders a day before the IPO opening—reiterating its focus on shareholder returns.

Buoyant HNIs and Retail Participation, QIB Participation Critical Ahead

Vikran Engineering’s listing IPO shows significant investor interest, particularly from retail and HNI segments. However, the lack of QIB subscription is an early sign of momentum in the last few days. The huge GMP is an indication of a hoped-for listing gain, but market conditions and execution will dictate the result. With the issue remaining open until August 29, everyone is now waiting to see if institutions step in and how the listing goes

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