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Anlon Healthcare & Vikran Engineering IPOs: What Investors Need to Know in August 2025

Writer
Nidhi Thakur
timer
August 25, 2025
Anlon Healthcare & Vikran Engineering IPOs: What Investors Need to Know in August 2025blog thumbnail

Key Takeaways

  • Anlon Healthcare IPO (₹121 cr, ₹86–91/share, 164 lot): Strong fundamentals, expansion focus, but valuation seems full and there are risks like falling FY 24 revenue, high debt, client concentration, and single‑facility dependency—so it may be safer to skip this round.
  • Vikran Engineering IPO (₹772 cr, ₹92–97/share, 148 lot): Well‑valued with solid growth, order book, and diversified project portfolio in essential infrastructure—I staying open to both listing gain and long‑term possibilities.
  • Indian investors should weigh expansion potential versus execution and execution risks—policy‑sensitive nature is key for Vikran.
  • Swastika Investmart is a reliable SEBI‑registered platform offering research tools, tech‑based investing, customer support, and investor education to help navigate IPO decisions.

Anlon Healthcare and Vikran Engineering IPO Review: Investor Perspective

Anlon Healthcare Limited – API and Pharmaceutical Intermediates

Anlon Healthcare, based in Rajkot, has carved a niche in manufacturing high‑purity pharmaceutical intermediates and APIs used in medications, personal care, nutraceuticals, and animal health—critical raw materials in drug production. Its IPO is a fully fresh issue of around ₹121 crore at ₹86–91 per share, with a lot size of 164 shares. Proceeds are earmarked for capacity expansion (₹30.7 crore), working capital (₹43 crore), debt reduction, and general corporate use MoneycontrolIPO Watch.

Pros Under the Hood:

  • Profits climbed from ₹5.82 crore in FY 23 to ₹9.65 crore in FY 24, even though revenue dropped sharply from ₹112.9 crore to ₹66.6 crore Business StandardMoneycontrol.
  • The company meets pharmacopoeia standards (IP, BP, EP, JP, USP) and holds international approvals for key APIs, boosting credibility Business Standard.

Caveats to Consider:

  • Revenue decline in FY 24 raises concerns about sustainability—one‐off recovery possible but uncertain.
  • Financial leverage appears elevated, and competition in API space is fierce—pricing power may be limited.
  • Heavy reliance on a single facility in Rajkot and 78% revenue concentration from top 10 clients poses operational and client‑diversification risks.
  • Current valuations appear full—little room for upside unless growth trajectory rapidly improves.

Verdict: With expansion plans and stronger margins in sight, Anlon Healthcare shows promise—but given the high valuation, past revenue dip, location dependency, debt, and narrow client base—cautious investors may prefer to sit this one out.

Vikran Engineering Limited – Key EPC Player

Vikran Engineering, headquartered in Thane (Maharashtra), is a fast‑growing EPC firm focused on core sectors like power transmission (EHV substations, smart metering), water infrastructure, railway electrification, and solar projects. The IPO totals ₹772 crore, comprising ₹721 crore fresh issue and ₹51 crore via offer for sale, at ₹92–97 per share, with a lot size of 148 shares. The net proceeds largely support working capital and corporate needs SharescartUpstox - Online Stock and Share TradingFortune India.

Strengths That Stand Out:

  • FY 25 revenue jumped ~16–17% to ₹922–923 crore from ~₹786 crore, while PAT rose ~4% to ₹78 crore Fortune IndiaIPO Watch.
  • A robust order book: ₹2,442 crore as of mid‑2025, backed by 45 completed and 44 ongoing projects across 14–16 states Upstox - Online Stock and Share TradingFortune India.
  • Diversified across essential infrastructure sectors, reducing dependency on any single vertical.

Risks to Note:

  • EPC is highly execution‑dependent; delays—especially on tightly bid government projects—can pressure earnings.
  • Heavy reliance on government contracts (around 62% by order book) makes it vulnerable to policy shifts or funding changes.
  • Working capital intensity and receivables could strain liquidity if project receipts lag.

Verdict: A fundamentally sound candidate with solid growth, diverse project mix, and strong credibility. Investors could consider participating for potential listing gains and long‑term growth, while remaining watchful on execution and policy risks.

Why Swastika Investmart stands out:

  • SEBI‑registered broker with transparency and regulatory rigor.
  • Sophisticated yet intuitive IPO analytics and comparison dashboards.
  • Dedicated customer support to clarify IPO terms, allotment, and demat credit.
  • Tech‑forward platform enabling quick bidding, tracking, and alerts.
  • Investor education resources—webinars, blogs, FAQs—empowering decision-making.

Frequently Asked Questions

Q1. When do these IPOs open and list?
Both IPOs—Anlon and Vikran—open on August 26, 2025, and close on August 29. Allotment is expected by September 1, with refunds and demat credit on September 2, and listing on September 3 on BSE and NSE IPO Watch+1Sharescart.

Q2. What is the minimum investment for retail investors?

Q3. What share quotas are allocated among investor categories?

Q4. What does the grey market premium (GMP) suggest?
Vikran shows a strong grey market premium (~17–23%), indicating investor enthusiasm and possible listing upside The Economic TimesMoneycontrol. Anlon currently has no visible GMP activity The Economic Times.

Q5. Should a risk‑aware investor subscribe to both?
Anlon’s full valuation, FY 24 revenue slump, and operational concentration suggest prudence—this one could be avoided for now. Vikran, however, offers a well-balanced risk‑reward profile; investors may consider applying for potential gains and long-term infrastructure exposure.

Conclusion

The Anlon Healthcare IPO tells a story of niche manufacturing with potential—but shadowed by recent revenue decline, high valuation, and reliance on a single facility and a few clients. In contrast, Vikran Engineering stands out with healthy financials, diversified order book in vital sectors, and encouraging market sentiment.

For investors seeking support, clarity, and confidence in navigating these IPOs, Swastika Investmart delivers with its SEBI‑registered platform, powerful research tools, supportive customer care, and educational edge.

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