Vikran Engineering IPO subscriptions over 5 times closed today; That’s what Anil Singhvi thinks
Vikran Engineering IPO: Vikran Engineering’s 77.2 billion rupees initial public offering (IPO) has closed today. The question has received a nice response from investors so far, with the total price exceeding 5.24 times the stocks offered by the end of day 2.
Data from the National Stock Exchange (NSE) show that the IPO received bids with 587 million shares available. The highest demand comes from non-institutional investors (NIIS), which has been subscribed in part 11.03 times, followed by retail investors with a quota of 5.23 times. As of Thursday, the Qualified Institutional Buyer (QIB) category has received 91%.
The IPO includes a new offering of 74.3 million shares and a 5.3 million sale of issuer Rakesh Ashok Markhedkar. The price range is set to Rs 92-97 per share and the size is 148 shares. On the upper end, the lowest application price is Rs 14,356, while the maximum application allowed by retail investors is 13 lots or Rs 1.86 lakh.
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Market expert Anil Singhvi has suggested that only high-risk investors consider using a long-term perspective. He found positives such as experienced facilitators, asset lamp models, profitable trails and strong pre-IPO supporters. However, he also marked concerns including high accounts receivable, working capital pressure and negative cash flows.
The final subscription data will be announced after today’s market hours and may be allocated next week. It is expected to be in early September, depending on market conditions.
