VIKRAN Engineering Closes Pre-IPO Up-round of Rs 100 Crore

Mumbai, September 7, 2024: VIKRAN Engineering & Exim Private Limited successfully closed its Pre-IPO up-round equity placement round. It secured investments totaling over Rs 100 crore from a group of investors including Mukul Agarwal, Negen Undiscovered Fund, leading Indian family offices, and high-net-worth individuals, the company said in a press statement. Pantomath Capital Advisors Private Limited served as the sole investment banker and financial advisor for the transaction.

In January 2024, India Inflection Opportunity Fund and Ashish Kacholia invested Rs 85 crore in VIKRAN Engineering & Exim Private Limited, acquiring an approximate 11% stake in the company.

VIKRAN Engineering & Exim Private Limited is an EPC company specializing in value-added projects in the Power Sector (transmission lines and substations), Electrification & Composite Projects, Water Infrastructure (Water Transportation and Distribution), and Railway Infrastructure.

Rakesh Markhedkar, MD of VIKRAN, said on the occasion, “Our vision is to be the leader in the specialised EPC segment. With investors posing faith in VIKRAN, it gives us the confidence and belief in our vision. With the right partners, we can accelerate our growth, innovate faster, and make a more significant impact. This investment will empower us to turn ambitious ideas into reality, driving us closer to our goal of transforming the industry and creating lasting value for our stakeholders”

VIKRAN achieved significant growth in FY24, reporting revenue of approximately Rs 786 crore. The company’s revenue grew at a CAGR of 33% between fiscal 2021 and 2024.