- Vikran Engineering shares slipped 9% below debut price after grey market hype. What drove the drop and what’s next for investors?
Vikran Engineering, an EPC company specializing in power transmission, water supply, and railway electrification projects, made its stock market debut on September 3 at ₹101 per share, slightly above its issue price of ₹97. But the early gains didn’t last. By Thursday afternoon, the stock had slipped to ₹92.13, marking a drop of nearly 9% from its debut price, as profit booking and weak sentiment pulled it below expectations.
What Does Vikran Engineering Do?
Vikran Engineering is an engineering, procurement, and construction (EPC) company. The firm has also executed projects under the government’s Jal Jeevan Mission and completed over 30,000 smart metering connections, with marquee clients including NTPC and Power Grid Corporation of India.
Vikran Engineering IPO Details Investors Should Know
- IPO Size: ₹772 crore
- Fresh Issue: 74.3 million shares worth ₹721 crore
- Offer for Sale (OFS): 5.3 million shares worth ₹51 crore
- Price Band: ₹92–₹97 per share
- Issue Oversubscription: 23.59 times
Funds raised from the fresh issue will go toward working capital requirements and general corporate purposes. Proceeds from the OFS will go to selling shareholders.
Vikran Engineering Share Price Chart Levels to Watch
- Current Price: ₹92.13
- Immediate Resistance: ₹95, then ₹101 (debut price)
- Support Zones: ₹90, followed by ₹86
- Trading Opportunity:
A sustained move below ₹92.00 may trigger further selling pressure, while a rebound above ₹97.00 could offer a short-term buying opportunity targeting ₹101.00.
Outlook for Vikran Engineering Investors
Vikran Engineering continues to have a solid base for long-term investors. Stability comes from the company’s large order book, history in vital infrastructure, and consistent flow of government contracts. But short-term traders need to tread carefully. The sharp slip below the issue price was a clear reminder that grey market premiums don’t always translate into listing-day strength.
Vikran Engineering operates as an EPC player with a footprint across large-scale projects. Its expertise covers power transmission lines, high-voltage substations, water systems, railway electrification, and metro projects spread across 14–16 states, giving it both depth and scale in India’s infrastructure story.
Lets be blunt, if you came in for quick listing-day fireworks, this stock already burned your fingers. A 9% drop straight out of the gate is the market’s way of saying: “not so fast.” For long-haul investors, though, the fundamentals haven’t cracked. Vikran’s order book is fat, its government contracts are sticky, and the EPC space isn’t going away. The big question is whether you have the stomach for the ride. If ₹97 doesn’t get reclaimed soon, short-term traders might want to cut loose. But if you’re betting on India’s infrastructure boom, this could still be the kind of name you hold quietly in the back pocket while everyone else panics.
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