Upcoming IPOs Next Week: Vikran Engineering, Anlon Healthcare Among 10 Issues; 8 Listings Scheduled
The final week of August 2025 is shaping up to be one of the busiest weeks of the year for the IPO market. A total of 10 IPOs are set to open for subscription, including two mainboard issues and eight SME offerings, spanning sectors from infrastructure and pharma to IT, packaging, and chemicals.
In addition, eight companies are scheduled to list on the exchanges next week, further adding to the action for primary market investors.
Mainboard IPOs
Vikran Engineering IPO
- Issue Dates: August 26–29, 2025
- Issue Size: ₹772 crore
- Fresh Issue: ₹721 crore
- OFS: ₹51 crore by promoter Rakesh Ashok Markhedkar
- Price Band: ₹92–₹97
- Lot Size: 148 shares
- Lead Managers: Systematix Corporate Services, Pantomath Capital Advisors
- Registrar: Bigshare Services
Business Overview:
Vikran Engineering Ltd. is a Mumbai-based engineering, procurement, and construction (EPC) company with strong expertise in delivering end-to-end infrastructure projects. Its services include conceptualisation, design, procurement, installation, testing, and commissioning of turnkey projects across industrial, water management, and power-related infrastructure.
Use of Proceeds:
Funds will be deployed for working capital requirements and general corporate purposes, reflecting the company’s growth pipeline in infrastructure projects.
Financial Performance (Restated):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | ₹1,354.68 Cr | ₹959.79 Cr | ₹712.47 Cr |
| Total Income | ₹922.36 Cr | ₹791.44 Cr | ₹529.18 Cr |
| Profit After Tax | ₹77.82 Cr | ₹74.83 Cr | ₹42.84 Cr |
| EBITDA | ₹160.24 Cr | ₹133.30 Cr | ₹79.71 Cr |
| Net Worth | ₹467.87 Cr | ₹291.28 Cr | ₹131.14 Cr |
| Reserves & Surplus | ₹449.52 Cr | ₹290.95 Cr | ₹130.85 Cr |
| Total Borrowing | ₹272.94 Cr | ₹183.39 Cr | ₹154.92 Cr |
Key Ratios (as of Mar 31, 2025):
- ROE: 16.63%
- ROCE: 23.34%
- Debt/Equity: 0.58
- PAT Margin: 8.44%
- EBITDA Margin: 17.50%
- Price to Book Value: 3.81
- Market Cap (IPO): ₹2,501.74 Cr
Analysis:
Vikran Engineering has shown steady revenue growth (17% YoY in FY25) and profitability improvement (PAT up 4%). Strong ROCE above 20% and manageable leverage indicate efficient capital deployment. However, being in the EPC sector, risks of cyclical slowdown, order delays, and working capital stress remain.
For investors, this IPO provides exposure to India’s infrastructure push and government spending cycle, making it attractive for medium-to-long-term holding.
Also Read :- Shreeji Shipping Global IPO: Should you apply or avoid?
Anlon Healthcare IPO
- Issue Dates: August 26–29, 2025
- Issue Size: ₹121.03 crore (100% fresh issue, 1.33 crore shares)
- Price Band: ₹86–₹91
- Use of Proceeds: Capacity expansion, debt repayment, working capital, general corporate purposes
- Sector: Pharma APIs, personal care, veterinary healthcare
Business Overview:
Anlon Healthcare manufactures active pharmaceutical ingredients (APIs), personal care products, and veterinary health solutions. The company is following an asset-light strategy, maintaining low debt while planning to expand its installed capacity from 400 MTPA to 1,100 MTPA, indicating strong scalability.
Financial Strengths:
- High ROCE and healthy balance sheet
- Export potential with China+1 supply chain diversification
- Focused niche product portfolio
Risks:
- High dependence on a limited customer base
- Competitive pricing pressure in generics and APIs
Analysis:
Given the pharma sector’s defensive nature and strong expansion plans, Anlon Healthcare looks attractive to long-term growth investors seeking exposure to healthcare and exports.
SME IPOs Opening Next Week
- NIS Management (Aug 25–28): ₹60.01 Cr | Price band ₹105–₹111 | Security & facility management.
- Globtier Infotech (Aug 25–28): ₹31.05 Cr | Fixed price ₹72 | IT & SAP services.
- Sattva Engineering Construction (Aug 26–29): ₹35.38 Cr | Price ₹70–₹75 | EPC contractor for infra projects.
- Current Infraprojects (Aug 26–29): ₹41.80 Cr | Price ₹76–₹80 | Infra execution services.
- Oval Projects Engineering (Aug 28–Sep 1): 0.55 Cr fresh shares | Price TBA | EPC sector.
- Abril Paper Tech (Aug 29–Sep 2): ₹13.42 Cr | Price ₹61 | Paper & packaging.
- Snehaa Organics (Aug 29–Sep 2): ₹32.68 Cr | Price ₹115–₹122 | Agrochemicals.
- Sugs Lloyd (Aug 29–Sep 2): ₹85.66 Cr | Price ₹117–₹123 | Engineering & construction.
Also Read :- Mangal Electrical Industries Ltd IPO Analysis
Upcoming IPO Listings
Investors will also witness 8 listings next week:
- Studio LSD
- Gem Aromatics
- LGT Business Connextions
- Shreeji Shipping Global
- Patel Retail
- Vikram Solar
- Mangal Electrical
- ARC Insulation
Market Outlook
- With 10 IPOs and 8 listings bunched in one week, investors must be selective.
- Vikran Engineering offers stability and infrastructure exposure, while Anlon Healthcare provides a healthcare growth story.
- SME IPOs give niche sector plays but come with higher volatility.
- Grey Market Premiums (GMP) so far are muted, hinting at limited listing-day fireworks. Hence, medium-to-long term outlook should guide subscription decisions.
Bottom Line:
The upcoming week is packed with opportunities across sectors. Investors should focus on fundamentally strong IPOs like Vikran Engineering and Anlon Healthcare, while being cautious about overexposure to SME issues. Careful review of company financials, sector trends, and personal risk appetite will be key to making the most of this IPO wave.
