After sailing through on the first day of the bidding itself, the initial public offerings (IPOs) of Vikran Engineering and Anlon Healthcare continued to enjoy strong demand on the second day of the bidding process.
Vikran Engineering IPO was subscribed 3.75 times, and Anlon Healthcare IPO was booked 2.42 times by 11:40 IST, according to BSE data.
Harshal Dasani, Business Head, INVasset PMS, said the ₹121-crore Anlon Healthcare IPO, which will close on August 29, was driven largely by strong retail demand, while institutional and NII segments were softer.
“The grey market premium hovered around 5–6%, indicating a muted listing gain over its upper price band. Proceeds are earmarked for expanding manufacturing capacity, funding working capital, reducing debt, and meeting general corporate requirements. While the response was moderate, the company’s focus on scaling capacity and balancing its debt profile has drawn attention from selective investors seeking stability over aggressive growth,” Dasani said.
By contrast, the much larger ₹772-crore Vikran Engineering IPO witnessed robust appetite, getting fully booked within the first two hours of opening and closing the first day with subscription around two times overall.
“Grey market signals were stronger here, with premiums near 17–18%, suggesting a healthier listing gain potential. Investors have been encouraged by the company’s sizeable order book and infrastructure tailwinds, though concerns linger around working capital intensity and regulatory overhangs,” Dasani said.
Still, in a volatile market backdrop, Vikran Engineering has managed to generate a stronger pre-listing buzz than Anlon, making it the more closely watched debut in this round of offerings, Dasani observed.
Let’s take a look at the grey market premium trends
Vikran Engineering IPO GMP today, or grey market premium, is +10. According to investorgain.com, Vikran Engineering’s share price traded at a premium of ₹10 in the grey market on Thursday.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vikran Engineering shares is ₹107 apiece, 10.31% higher than the IPO price of ₹97.
Based on the grey market activities from the last 11 sessions, the present GMP ( ₹10) indicates a trend towards the lower end. As noted by experts, the minimum GMP recorded is ₹0.00, while the maximum GMP stands at ₹21.
Anlon Healthcare IPO GMP today is +5. This indicates Anlon Healthcare share price was trading at a premium of ₹5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Anlon Healthcare shares is ₹96 apiece, which is 5.49% higher than the IPO price of ₹91.
Due to the grey market activities observed over the past eight sessions, today’s IPO GMP is on the rise, suggesting a robust listing ahead. According to analysts, the lowest GMP recorded is ₹0.00, and the highest GMP noted is ₹5.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
IPO details
The Vikran Engineering IPO, worth ₹772 crore, began accepting bids on August 26. It will conclude on August 29. The price band has been set in the range of ₹92 to ₹97. This IPO includes a fresh issuance of shares totalling around ₹721 crore, in addition to an offer-for-sale component of ₹51 crore from the promoter.
The Mumbai-based company intends to utilise ₹541 crore from the fresh issue for working capital requirements, while the remaining amount will be allocated for general corporate purposes.
The Anlon Healthcare IPO, which also ends on August 29, features a fresh issuance of 1.33 crore shares. If the shares are sold at the upper end of the price range, the total offering value would be roughly ₹121 crore. The proceeds from this issuance will be used to expand the company’s manufacturing facility ( ₹30.7 crore), improve working capital ( ₹43.15 crore), pay down existing debt, and facilitate various general corporate activities.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
