Mukul Agrawal, Ashish Kacholia-backed Vikran Engineering shares rise 5% from IPO price. Time to cash out or double down?

Vikran Engineerings shares rose about 5% on debut, listing slightly above its Rs 97 IPO price in a Rs 772-crore offering backed by investors Mukul Agrawal and Ashish Kacholia. Despite strong subscription and a robust order book, gains fell short of grey market expectations. Analysts recommend holding for long-term growth supported by government infrastructure spending and the companys asset-light model.