Mukul Agrawal Invests in Pre-IPO Round of EPC Firm; Ashish Kacholia Invested in January

Mukul Agarwal, Negen Undiscovered Fund, Leading Indian family offices and HNIs together invested over Rs 100 Crore

Thane, Maharashtra based, VIKRAN Engineering & Exim Private Limited (“VIKRAN”/ “the Company”) confirmed the closure of the Pre-IPO up-round equity placement round. Avid investors including Mukul Agarwal, Negen Undiscovered Fund, Leading Indian family offices and HNIs together invested over Rs 100 Crore. Pantomath Capital Advisors Private Limited acted as the sole investment banker and financial advisor for the transaction.

Notably earlier in January 2024, India Inflection Opportunity Fund and Ashish Kacholia collectively invested Rs 85 Crores, acquiring an approximate 11 per cent stake in the Company.

VIKRAN is a fast-growing EPC Company in value-added projects of the Power Sector (transmission lines and sub-stations), Electrification & Composite Projects, Water Infrastructure (Water Transportation and Distribution) and Railway Infrastructure.

Over the years, VIKRAN has successfully expanded its business and diversified its operations. The Company has a presence in 22 States across India, including Uttar Pradesh, Andhra Pradesh and Madhya Pradesh among other states.

VIKRAN is promoted by Mr. Rakesh Markhedkar, CMD of the company, an IIM Bangalore & BITS Pilani Alumni with more than three decades of experience in managing business in Power infra and large heavy industries. He has international experience with stints in companies like Larson & Turbo covering geographies like the Middle East and New Zealand. Mr. Rakesh Markhedkar is assisted by his brother Mr. Avinash Markhedkar, two sons Nakul and Vipul Markhedkar, and wife Kanchan Markhedkar. Mr. Avinash Markhedkar is whole time director in the company, he is an IIM Kolkata Alumni with 33 years of rich experience in execution of EPC projects.  Nakul Markhedkar is whole time director in the company and an engineer in Electronics & Telecommunication with 8 years of experience in Procurement, Marketing and Business Development

Backed by professional management, the Company has a well-integrated supply chain and capability for comprehensive planning for ahead-of-schedule project completion. A team of 850 professionals including in-house Design & Engineering team makes it a unique business-proposition.

Mr. Rakesh Markhedkar, MD of VIKRAN, said on the occasion, “Our vision is to be the leader in the specialised EPC segment. With Investors posing faith in VIKRAN, it gives us the confidence and belief in our vision. With the right partners, we can accelerate our growth, innovate faster, and make a more significant impact. 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”

VIKRAN clocked approximate revenue of Rs. 786 crores in FY24 growing at CAGR of 33 per cent between fiscal 2021 to 2024. The Company had EBITDA margins of around 17 per cent and PAT margin of 9.5 per cent which are one of the best in the industry. The Company had robust return ratios of Return on Equity of 35 per cent and Return on Capital Employed of 46 per cent.