Synopsis:
Ashish Kacholia’s new bets on Vikran Engineering and Shree Refrigerations show his trust in young industrial companies and rising confidence in Small / Micro-cap IPO opportunities.
Ace investor Ashish Kacholia’s bold bets on two newly listed firms highlight his knack for spotting emerging leaders early. His latest moves signal shifting investor confidence and renewed interest in promising small-cap plays, potentially redefining market sentiment and sparking fresh momentum across the broader IPO and manufacturing space.
Ashish Kacholia, often called the “Big Whale” of India’s stock market, is a smart investor born in Mumbai in 1979 to a simple middle-class family. He studied engineering and got an MBA to build a strong base in business, then kicked off his career in the 1990s at a securities firm before teaming up with famous investor Rakesh Jhunjhunwala to start a digital company called Hungama in 1999.
In 2003, he launched his own firm, Lucky Securities, where he helps rich clients and focuses on buying shares in small and medium-sized companies with big growth potential. Through careful research and patience, Kacholia has grown his investments to over ₹2,800 crore, picking winners like chemicals and tech firms that multiply in value, and he quietly gives back to society through charity work, inspiring many to invest wisely.
Vikran Engineering
Engaged in providing engineering, fabrication, and construction services for industrial and infrastructure projects. The company handles structural steel fabrication, mechanical works, and turnkey project execution, serving sectors like power, oil and gas, and manufacturing with customized and reliable engineering solutions.
Vikran Engineering Limited’s stock, with a market capitalisation of Rs. 2,450 crores, fell to Rs. 94.22, hitting a low of up to 1.2 percent from its previous closing price of Rs. 95.38.
Ace investor Ashish Kacholia acquired a 1.5% stake in the company valued at Rs 40.5 crore, while Mukul Agarwal purchased a 1.2% stake. Vikran Engineering Ltd’s shares, listed in early September 2025 at around Rs 95.
The company reported revenue of Rs. 916 crore in FY2025, rising 16.6% year-on-year from Rs. 786 crore in FY2024. Over the past three years, sales have grown at a CAGR of 24%, indicating steady and consistent business expansion.
Net profit increased modestly to Rs. 78 crore in FY2025 from Rs. 75 crore in FY2024, reflecting a 4% YoY growth. The company has delivered strong profitability trends with a 3-year profit CAGR of 95% and a robust ROE CAGR of 28%, highlighting improved efficiency and value creation for shareholders.
Shree Refrigerations
Company Is engaged in manufacturing and supplying refrigeration and cooling systems for industrial and commercial use. The company provides chillers, cold storage units, and air conditioning solutions, catering to food processing, pharmaceuticals, and hospitality sectors with efficient temperature control and maintenance services.
Shree Refrigerations Limited’s stock,with a market capitalisation of Rs. 776 crores, fell to Rs. 214.10, hitting a low of up to 4.6 percent from its previous closing price of Rs. 224.40.
Ace investor Ashish Kacholia acquired a 3.4% stake in the company valued at Rs 32 crore, according to exchange filings for the quarter ending September 2025. Shree Refrigerations Ltd’s shares, listed in August 2025 at around Rs 175.
The company reported revenue of Rs. 99 crore in FY2025, reflecting a 23.75% YoY increase from Rs. 80 crore in FY2024. Over the past three years, it achieved a strong sales CAGR of 30%, highlighting consistent business expansion and improved market presence.
Net profit rose to Rs. 14 crore in FY2025 from Rs. 12 crore in FY2024, marking a 16.7% YoY growth. The firm maintained solid profitability with a 3-year profit CAGR of 66% and an ROE CAGR of 19%, underscoring efficient capital utilization and sustained earnings growth.
Written By Fazal Ul Vahab C H
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