Ashish Kacholia-backed Vikran Engineering IPO opens for subscription today; GMP at 21%. Should you bid?

Vikran Engineering’s Rs 772 crore IPO opens today, featuring a fresh issue and offer for sale, closing on August 29. With strong GMP, listing is expected on September 3. The company, backed by anchor investors and pre-IPO placements, will use IPO proceeds for working capital.