A new main board IPO is set to hit the market, with official dates now announced. We’re talking about the Vikram Engineering IPO, and in this article, we’ll cover all the essential details currently available.
Vikram Engineering IPO Opening & Closing Dates
The official dates for the Vikram Engineering IPO have been confirmed. The Initial Public Offering is scheduled to open for subscription on August 26th and will close on August 29th.
Due to the Ganesh Chaturthi holiday, the market will be closed on August 27th. Therefore, investors will have the opportunity to apply on August 26th, August 28th, and August 29th.
Face Value and Upcoming Price Band
The company’s face value has been set at ₹1 per share, indicating good liquidity for the company in the future. While the official dates are out, the price band for the IPO is expected to be announced soon. Once the price band is declared, a detailed valuation analysis will be provided.
Issue Size and Distribution
The Vikram Engineering IPO will comprise both a fresh issue and an offer for sale (OFS). The total issue size is ₹1000 crore, which includes a fresh issue of ₹900 crore. The remaining ₹100 crore will be an offer for sale, with proceeds going to promoters and existing shareholders.
The distribution of the total issue size is as follows:
- Qualified Institutional Buyers (QIBs): 50% of the shares
- Retail Investors: 35% of the shares (requiring an application amount of ₹15,000)
- High Net-worth Individuals (HNIs): 15% of the shares
Important Dates for Allotment, Refund, and Listing
Investors should mark these important dates on their calendars:
- IPO Open Date: August 26th
- IPO Close Date: August 29th
- Allotment Finalization: September 1st (information on allotment status will be available)
- Refund Initiation: September 2nd
- Shares Credited to Demat Account: September 2nd
- Listing Date: September 3rd (on both BSE and NSE)
Company Balance Sheet and Fund Utilization
Vikram Engineering’s balance sheet appears robust, described as a “five-star balance sheet.” The funds raised through this IPO are intended to help the company reduce its existing debt.
Valuation Outlook and Grey Market Premium
A crucial factor for the IPO’s success will be the attractiveness of the valuation set by the company when the price band is announced. If the valuation is appealing, the IPO is expected to receive a strong response, potentially leading to good subscription numbers and Grey Market Premium (GMP).
Currently, there is no active trading in the Grey Market Premium for this IPO. Updates on GMP, as and when they commence, will be provided regularly.
