VIKRAN Engineering & Exim Private Limited has completed a Pre-IPO equity placement round, raising over INR 100 crores. The round was led by investors including Mukul Agarwal, Negen Undiscovered Value 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.
Earlier in January 2024, India Inflection Opportunity Fund and Ashish Kacholia had invested INR 85 crores for an approximately 11% stake in the company.
VIKRAN operates in various sectors including power transmission, electrification, water infrastructure, and railway infrastructure. The company has a presence in 22 Indian states and is noted for its comprehensive project management and execution capabilities.
Founded by Mr. Rakesh Markhedkar, who has extensive experience in power infrastructure and large industries, VIKRAN has shown significant growth. Mr. Rakesh Markhedkar is supported by his family members, including his brother Mr. Avinash Markhedkar and his sons Nakul and Vipul Markhedkar.
For the fiscal year 2024, VIKRAN reported revenues of approximately ₹786 crores, with a CAGR of 33% from 2021 to 2024. The company achieved EBITDA margins of around 17% and a PAT margin of 9.5%, along with a Return on Equity of 35% and a Return on Capital Employed of 46%.
