VIKRAN Engineering's Pre-IPO Round Closes with INR 100 Cr Backing from Mukul Agarwal, Negen Undiscovered Fund, and More Earlier in January 2024, India Inflection Opportunity Fund and Ashish Kacholia had invested INR 85 crore for an approximately 11% stake in the company.
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VIKRAN Engineering and Exim Private Limited, a Thane, Maharashtra-based EPC company, has confirmed the closure of the pre-IPO up-round equity placement round, securing over INR 100 crores from prominent investors.
The round saw participation from notable figures such as Mukul Agarwal, Negen Undiscovered Fund, leading Indian family offices, and high-net-worth individuals (HNIs). Pantomath Capital Advisors Private Limited served as the sole investment banker and financial advisor for this transaction.
This latest investment builds on the momentum generated earlier in January 2024, when India Inflection Opportunity Fund and Ashish Kacholia invested INR 85 crore, acquiring approximately an 11% stake in the company.
Founded in 2015 by Rakesh Markhedkar, VIKRAN has established itself as a leader in value-added projects in the power sector, particularly in transmission lines, substations, electrification, water infrastructure, and railway infrastructure.
The company claims to boast a robust presence across 22 states in India, including key markets such as Uttar Pradesh, Andhra Pradesh, and Madhya Pradesh.
The company's professional management, coupled with a well-integrated supply chain and a team of 850 professionals, including an in-house design and engineering team, positions it as a unique and competitive player in the EPC sector.
Rakesh Markhedkar, MD of VIKRAN, expressed his optimism, stating, "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."
In FY24, VIKRAN claims that it achieved a revenue of approximately INR 786 crore, growing at a CAGR of 33% from FY21 to FY24, with EBITDA margins of 17% and PAT margins of 9.5%, reflecting its strong financial performance.
