- Issue price
- ₹85per share
- Issue size
- ₹46.74 Cr54,99,200 shares
- Face value
- ₹10per equity share
- Lot size
- 3,200 sharesMin. ₹2.72 L at the upper price
- Anchor biddingTue, 2025
- OpensThu, 2025
- ClosesMon, 2025
- AllotmentTue, 2025
- ListingThu, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 54,99,200 shares (₹46.74 Cr)
- Offer for sale
- None
- Total issue
- 54,99,200 shares (₹46.74 Cr)
- Market maker portion
- 3,04,000 shares
- Face value
- ₹10
- Listing at
- BSE SME
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail39.9%
- NII26.2%
- Anchor17.0%
- QIB ex-anchor11.3%
- Market maker5.5%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 21,95,200 | 42.25% | — |
| Non-institutional investors (NII) | 14,40,000 | 27.72% | — |
| Qualified institutional buyers (QIB) | 15,60,000 | 30.03% | — |
| QIB, excluding anchor | 6,24,000 | 12.01% | — |
| Anchor investors | 9,36,000 | 18.02% | — |
| Market maker | 3,04,000 | — | — |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹6.65
- P/E
- 12.78×
- RoNW
- 20.85%
- NAV per share
- ₹31.89
- EBITDA margin
- 17.68%
- PAT margin
- 9.12%
- ROCE
- 21.32%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 102.29 | 77.97 | 59.02 |
| Total income | 103.44 | 78.99 | 64.09 |
| EBITDA | 18.08 | 9.89 | 3.46 |
| Profit after tax | 9.33 | 4.40 | 3.19 |
| Net worth | 55.88 | 33.67 | 17.75 |
| Reserves and surplus | 40.61 | 20.00 | 17.68 |
| Total assets | 156.23 | 103.80 | 82.25 |
| Total borrowing | 53.70 | 32.41 | 32.21 |
FY 2024-25 vs FY 2023-24: revenue +31.2%, profit after tax +112.0%.
Source: ProspectusUpdated
About the company
The company provides engineering, procurement and construction and operations and maintenance services for industrial infrastructure, mainly in the oil and gas sector across India. It also undertakes urban and civil infrastructure projects and is based in Agartala, Tripura.
- Incorporated
- 2013
- Industry
- Infrastructure Services (Oil & Gas EPC)
- CIN
- U74900TR2013PLC008465
- Website
- ovalprojects.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Goutam Debnath | 72.19% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Long-term working capital requirements | 37.03 |
| General corporate purposes | 3.94 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Oval Projects Engineering LimitedIssuer | ₹6.65 | 12.78× | 20.85% | ₹31.89 |
| Likhitha Infrastructure Limited | ₹17.57 | 15.34× | 18.52% | ₹5.4 |
| Konstelec Engineers Limited | ₹3.14 | 19.39× | 4.93% | ₹20.3 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Operates an established EPC and O&M business with a strong order book of ongoing oil and gas projects.
- Revenue and profit have grown over the last three fiscal years.
- Promoter has over a decade of technical experience in oil and gas pipeline services.
- Holds ISO certifications for quality, environmental and occupational health and safety management.
- Clients include public sector undertakings and central and state government entities.
Risks
- Outstanding legal proceedings involving the company, its promoter and directors could adversely affect it.
- Operating cash flows were negative in FY 2025 and FY 2024.
- Business requires heavy working capital, and the company depends on borrowings for it.
- Total borrowings are high relative to net worth, and revenue is concentrated in government-controlled clients.
- Use of issue proceeds is not appraised by any bank or financial institution.
Source: ProspectusUpdated
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹85) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Oval Projects Engineering IPO open and close?
According to the Prospectus, the issue opens on Thursday, 28 August 2025 and closes on Monday, 1 September 2025.
What is the Oval Projects Engineering IPO price band?
The final issue price is ₹85 per share.
What is the lot size of the Oval Projects Engineering IPO?
One lot is 3,200 shares, which is ₹2.72 L at ₹85 per share.
Where will Oval Projects Engineering shares list?
On BSE SME. The tentative listing date is Thursday, 4 September 2025.
Who is the registrar of the issue?
MAS Services Limited (SEBI registration INR000000049). Allotment status is checked on the registrar's website.
How do I check the Oval Projects Engineering IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 2 September 2025. After that, search by PAN, application number or DP/client ID on the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹37.03 Cr for long-term working capital requirements, ₹3.94 Cr for general corporate purposes.
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Spotted something wrong?
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