Vikran Engineering Limited, one of the emerging multi-sector EPC companies in India, today officially announced that,

The Company has commissioned its second 5 MW solar power plant in Maharashtra, India, under the PM KUSUM Scheme. Source: BSE.

Details

According to the exchange filing, Vikran Engineering Limited (VEL) commissioned its second 5 MW solar power plant in Ambijalgaon, Ahilyanagar district, Maharashtra, on April 5, 2026, under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) Scheme.

The newly operational plant marks another milestone in the company’s expanding renewable energy portfolio and reflects continued progress under the 600 MW solar contract secured in December 2025, a company spokesperson added.

Usage

According to the company management, the solar plant has been developed to provide reliable daytime electricity for agricultural irrigation, addressing longstanding challenges faced by farmers in the region due to unstable grid supply and dependence on costly diesel-powered irrigation.

The solar plant is expected to generate a significant impact, including –

• 10,000 MWh of clean energy generation annually
• 8,200 tonnes of CO₂ emissions avoided per year
• Reliable daytime power supply for irrigation pumps through the dry season
• Productive utilization of underutilized land,
• Creating long-term revenue opportunities for local landowners.

Vikran Engineering Commissioned Second Solar Plant

Management Commentary

Commenting on the latest development, Rakesh Markhedkar, CMD, Vikran Engineering Limited, said –

The commissioning of our second solar power plant under this project marks another important milestone in Vikran Engineering’s renewable energy journey and reflects our commitment to building infrastructure that delivers measurable impact on the ground.

Beyond clean power generation, projects like these directly support farmer livelihoods, improve rural energy reliability, and contribute meaningfully to India’s sustainability goals.

We remain focused on executing our solar pipeline with speed and precision as we continue to scale our renewable energy footprint across the country.

Total Capacity

With this commissioning, VEL has now operationalized 2 solar power plants under its broader solar development pipeline.

While an additional 145 MW remains under active construction, the overall execution pipeline is progressing as scheduled, as per the BSE statement.

Market Cap: Vikran Eengineering Ltd has a total market capitalization of ₹1,920 crore as of April 5, 2026, according to the NSE data.

Technical: The stock is currently trading above its 20-day and 50-day simple moving averages and below its 100-day SMAs.

Price Performance: On a year-to-date basis, VEL’s share has declined by 25.75% and by 14% over the last three-month period. However, the company’s shares have been trading 34% higher over the last month.

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Disclaimer: This article is purely for informational purposes. While much time and effort is made to provide the information, I (Vishal Dalwadi) or (FinBlab) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

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Vikran Engineering Limited, one of India’s emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, today, April 4, 2026, announced that,

The Company has received two major Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL). Source: BSE

Order Details

According to the BSE data, MSEDCL, a Government of Maharashtra Undertaking, has awarded Vikran Engineering an order for the Development of distribution infrastructure and system strengthening works across,

(1) Nashik Zone, and

(2) Kolhapur Zone.

Both LoAs were issued under the Power Distribution Enhancement Program funded by the Asian Development Bank (ADB), awarded through National Competitive Bidding.

The company’s management official stated that work under both orders entails executing the project on a turnkey basis, covering end-to-end activities, including site survey, planning, design, engineering, manufacturing, testing, supply, transportation, installation, commissioning, and documentation of all items and materials (including civil works).

Vikran Engineering Secures MSEDCL Order

Key Deliverables

Key deliverables include new 33/11 kV, 22/11 kV, and 33/22 kV Substations, new 33 kV, 22 kV, and 11 kV transmission lines, augmentation of power transformers and sub-stations, renovation works, distribution transformers, LT lines, HT/LT underground cabling, GIS Mapping, and Asset Tagging.

Order Value

The total value of both orders is aggregating to ₹530.80 Crore (excluding GST).

(1) The Nashik Zone contract is valued at ₹235.63 Crore, and

(2) The Kolhapur Zone contract is valued at ₹295.17 Crore.

Duration

Each contract is scheduled to be completed within a 21-month timeline from the date of the respective Letter of Award, a company spokesperson added.

Exchange Compliance

The Company has filed these details in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Refer to Vikran Engineering latest News for further information.

Vikran Engineering Secures MSEDCL Order

Leadership View

Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering Limited, said:

These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure.

Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.

These orders meaningfully strengthen our order book and position us well for sustained growth as we continue to contribute to Maharashtra’s power infrastructure development and support India’s broader energy access ambitions through reliable, timely, and sustainable infrastructure delivery.

Market Cap: The company’s market capitalization is ₹1,430 Cr.

Technical: The stock is trading below its major simple moving averages (20-day, 50-day, and 100-day) with all SMAs sloping downwards.

Price Performance: On a year-to-date (YTD) basis, Vikran Engineering’s stock has lost 44.65 percent and is down 44.15 percent in the last three-month period. However, the company’s shares are trading 16.65 percent lower in the last one-month period.

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Disclaimer: This article is purely for informational purposes. The data presented here are for information & personal use only. While much time and effort is made to provide the information, I (Vishal Dalwadi) or (FinBlab) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Vikran Engineering Secures MSEDCL Order appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

[Fresh Issue ₹ 721 Cr + OFS ₹ 51 Cr]

Vikran engineering ipo price is ₹ 92 – ₹ 97 per share

Vikran Engineering: History

The Company was originally incorporated as Ratangiri Financial Advisory Private Limited, as a private limited company under the Companies Act, 1956, on June 04, 2008.

The Company was converted into a public limited company under a special resolution approved by the shareholders at the EGM held on August 12, 2024, and its name was changed to Vikran Engineering Limited under a fresh certificate of incorporation issued by the RoC on September 20, 2024.

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Vikran Engineering: Business

Vikran Engineering Ltd. is one of the fast-growing Engineering, Procurement, and Construction (EPC) companies in India.

The Company provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning of a project on a turnkey basis and has presence across multiple sectors, including power transmission & distribution, energy, water, and railway infrastructure, with majority revenue from energy and water infrastructure verticals (contributing 49 percent each).

According to the CRISIL Report, the company also has experience in Solar EPC of ground-mounted solar projects and smart metering.

As part of railway projects, the company undertakes 132 kV traction substation projects and underground EHV cableling projects.

The company has successfully executed projects for government entities, private companies, and public sector undertakings.

Completed Projects

As of August 31, 2024, the company has successfully completed 44 projects across 11 states in India with a total executed contract value of ₹ 1896 Cr

As of August 31, 2024, the company has 34 ongoing projects across 17 states, aggregating orders of ₹ 3957 Cr, of which the Order-Book of ₹ 1956 Cr.

Client List

Some of the reputed clients of the company in the government sector include NTPC Limited, Power Grid Corporation of India Limited, Transmission Corporation of Telangana Limited, Madhya Pradesh Power Transmission Company Limited, District Water and Sanitation Mission (PHED), and State Water and Sanitation Mission (SWSM).

Strategies Ahead

• Strengthen core competencies in power transmission & distribution and water infrastructure sectors
• Expanding geographical footprint globally
• Expand the EPC portfolio into other EPC sectors
• Capitalizing on Government initiatives and policies

Company Promoters

1. Rakesh Ashok Markhedkar,
2. Avinash Markhedkar,
3. Nakul Markehdkar

Refer to Vikran Engineering DRHP for detailed information.

IPO Details

Vikran Engineering IPO date = 26 to 29 August 2025

Minimum Amount = INR 14,356

Minimum Bid = 148 Shares

Face Value (FV) = INR 1

Listing On = NSE, BSE

Book Running Lead Managers

Pantomath Capital Advisors Pvt Ltd

Systematix Corporate Services Ltd

Financials

CONCLUSION

FinBlab recommends ‘SUBSCRIBE‘ ratings on Vikran Engineering IPO (keeping a long-term view in mind)

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Vikran Engineering IPO – Review appeared first on Upcoming ipos: Latest news on stocks, economy & finance.