New Delhi, Aug. 22 -- The initial public offering (IPO) of Vikran Engineering, set to open for bidding on Tuesday, August 26, is commanding a decent grey market premium (GMP). The company aims to raise Rs.772 crore from the issue, with the price band fixed at Rs.92-97 per share.

The issue comprises a fresh issue of 7.43 crore shares aggregating to Rs.721 crore and an offer for sale of 0.53 crore shares aggregating to Rs.51 crore.

Ahead of the bidding, the shares are trading at a GMP of Rs.22 per share, indicating strong investor sentiment. If the momentum holds steady throughout the bidding period, the stock may debut on Indian exchanges with healthy gains. Based on the upper price band of Rs.97, the Rs.22 GMP suggests a potential listi...