Vikran Engineering IPO allotment expected on September 1: Steps to check status and other key details

Vikran Engineering Ltd. is set to finalise the share allotment status for its ₹772-crore initial public offering (IPO) on Wednesday, September 1.

The mainboard IPO was subscribed 23.59 times on the third and final day of bidding on August 29. Vikran Engineering IPO received bids for 138 crore shares against 5.87 crore shares on offer. The IPO opened for subscription on August 26.

Retail investors booked the issue 10.96 times, while Non-Institutional Investors (NIIs) subscribed their category 58.58 times. The Qualified Institutional Buyers’ (QIBs) category was booked 19.45 times.

The IPO comprised a fresh issue of 7.43 crore shares, amounting to ₹721 crore, and an offer-for-sale (OFS) of 53 lakh shares, worth ₹51 crore.

The company has proposed to use proceeds from the IPO to fund working capital requirements and general corporate purposes.

Vikran Engineering IPO applicants can check the share allotment status on the websites of the BSE, NSE and the issue registrar, Bigshare Services.

Steps to check Vikran Engineering IPO share allotment on BSE

· Go to the IPO allotment page on the BSE website: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx

· Choose 'Equity' as the issue type

· Pick Vikran Engineering Ltd from the dropdown menu under issue names

· Enter your application number or PAN to proceed

· Click on search to view your share allotment details

Steps to check Vikran Engineering IPO share allotment on Bigshare Services

· Go to Bigshare Services Allotment Page at https://www.bigshareonline.com/ipo_allotment.html

· Select one of the server links out of 3 options.

· Choose ‘Vikran Engineering’ from the dropdown.

· Enter your PAN, Application Number, or DP/Client ID.

· Clinck on the Search button.

Investors can also find out their allotment status on the website of the NSE using their PAN and application number.

The company will transfer shares to the Demat accounts of successful bidders on September 2 and refunds for the non-allottees will also be initiated on the same day.

Shares of the company are tentatively scheduled to be listed on the BSE and NSE on September 3.

The company is involved in the Engineering, Procurement and Construction (EPC) business. Vikran Engineering provides services related to power transmission and distribution, solar power, rail and metro electrification, and water infrastructure.