Vikran Engineering IPO allotment date likely today: how to check your share status online

Investors who applied for shares in Vikran Engineering Ltd’s initial public offering won’t have to wait much longer. The company is expected to finalise allotments on September 1, following a strong response to its Rs 772-crore IPO.

The three-day offering, which closed on August 29, saw solid interest from all categories of investors, and the shares are scheduled to list on the BSE and NSE this Wednesday, September 3.

High Demand, Especially from Non-Institutional Buyers

Exchange Data shows that non-institutional investors subscribed nearly 59 times their allotted portion. Qualified institutional buyers (QIBs) and retail investors subscribed roughly 19 times and 11 times, respectively.

What’s Next for Applicants

If the timeline holds, those who secured allotments should see shares credited to their demat accounts by September 2, while refunds for others are expected to be processed the same day. The company’s debut on the stock market will follow a day later.

Checking Allotment Status

Applicants can check their allotment details online. The information will be available through the IPO registrar, Bigshare Services, and also on the websites of BSE and NSE.

To check via BSE, one needs to visit the official allotment page, select 'Equity', choose 'Vikran Engineering Ltd' from the dropdown, and enter the application number or PAN. A similar process applies on the NSE site.

Issue Structure and Pricing

The IPO had a fresh issue of shares worth Rs 721 crore, and an offer-for-sale of Rs 51 crore. The price band was set at Rs 92 to Rs 97 per share. Proceeds from the fresh issue will go toward funding ongoing projects, working capital, and general corporate purposes.

Listing Expectations

With the stock set to debut in just a couple of days, investors and analysts will be watching closely to see if the enthusiasm carries through to the secondary market. Given the high subscription levels, listing gains are possible — but market sentiment can shift quickly.