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The primary market is buzzing with two IPOs currently open for subscription — Vikran Engineering Ltd and Anlon Healthcare Ltd. Here’s the detailed comparison:
Vikran Engineering IPO Vs Anlon Healthcare IPO.
Vikran Engineering IPO Vs Anlon Healthcare IPO: The primary market is buzzing with two IPOs currently open for subscription — infrastructure EPC player Vikran Engineering Ltd and chemical manufacturer Anlon Healthcare Ltd. Here’s a head-to-head comparison on GMP, valuations, and expert reviews to help investors decide.
IPO Size and Price Band
Vikran Engineering IPO: The Rs 772-crore issue comprises a fresh issue of shares worth about Rs 721 crore and an offer-for-sale (OFS) of Rs 51 crore. The price band is fixed at Rs 92-Rs 97 per share, with a lot size of 148 shares, requiring a minimum investment of Rs 14,356.
Anlon Healthcare IPO: The Rs 121.03 crore issue consists of 1.33 crore equity shares with a price band of Rs 86-Rs 91 per share. The lot size is 164 shares, translating to a minimum investment of Rs 14,924.
Vikran Engineering IPO Vs Anlon Healthcare IPO: Grey Market Premium Today
Vikran Engineering: Shares were trading at Rs 110 in the grey market, implying a premium of Rs 13 or 13.4% over the issue price. This signals expectations of mild listing gains.
Anlon Healthcare: Shares were quoting at Rs 96, a premium of Rs 5 or 5.49% over the issue price, indicating limited upside at listing.
Expert Reviews and Ratings
Vikran Engineering:
Anshul Jain of Lakshmishree Investment said the company’s strong execution record with government and PSU clients, experienced management, and exposure to a high-growth sector make it well-placed for scalability, assigning a ‘Subscribe’ rating for long-term investors.
Shivani Nyati of Swastika Investmart called Vikran one of the fastest-growing EPC players, with a revenue CAGR of 32.17% and a healthy order book of over Rs 2,442 crore. She said the IPO is fairly priced for both listing gains and long-term potential.
Brokerages such as BP Equities, Arihant Capital, Adroit Financial Services, AUM Capital, and Canara Bank Securities also gave a ‘Subscribe’ call.
Anlon Healthcare:
Anand Rathi Research said, “Anlon Healthcare operates on a scalable business model with a growing customer base,” highlighting the sector’s high entry barriers. It valued the issue at 19x FY25 earnings and gave a “Subscribe – Long Term” rating.
* Arihant Capital said, “Anlon Healthcare is positioned to benefit from its diverse product portfolio, regulatory approvals, and planned capacity expansion,” but flagged long client approval cycles as a risk. It valued the IPO at 24x FY25 earnings and gave a ‘Subscribe’ call.
Company Background and Use of Proceeds
Vikran Engineering: A Mumbai-based infrastructure EPC company offering turnkey services from design to commissioning. As of June 30, 2025, it had executed 45 projects worth Rs 1,920 crore across 14 states and was working on 44 projects worth Rs 5,120 crore. IPO proceeds will mainly fund working capital requirements (Rs 541 crore) and general corporate purposes.
Anlon Healthcare: A chemical manufacturer producing high-purity advanced pharmaceutical intermediates. IPO proceeds will be used for capacity expansion, repayment of borrowings, working capital needs, and general corporate purposes.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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