- Price band
- ₹51–54per share
- Issue size
- 52,02,000 sharesFresh issue · amount set with price
- Face value
- ₹10per equity share
- Lot size
- 2,000 sharesMin. ₹1.08 L at the upper price
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesFri, 2025
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
- 52,02,000 shares
- Offer for sale
- None
- Total issue
- 52,02,000 shares
- Market maker portion
- 2,80,000 shares
- Face value
- ₹10
- Listing at
- BSE SME
- Promoter holding
- 86.65% → 63.68%
- RHP date
- 22 Sept 2025
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Reservation
Share of the total issue- QIB47.2%
- Retail33.1%
- NII14.3%
- Market maker5.4%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 17,24,000 | 35.03% | 35% |
| Non-institutional investors (NII) | 7,44,000 | 15.12% | 15% |
| Qualified institutional buyers (QIB) | 24,54,000 | 49.86% | 50% |
| Market maker | 2,80,000 | — | — |
Source: Red Herring Prospectus dated 22 Sept 2025Updated
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- EPS (basic)
- ₹4.24
- RoNW
- 20.15%
- NAV per share (As at March 31, 2025)
- ₹21.03
- NAV per share (At floor price)
- ₹28.97
- NAV per share (At cap price)
- ₹29.76
- EBITDA margin
- 20.10%
- PAT margin
- 9.66%
- Debt to equity
- 0.74
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 63.25 | 64.94 | 27.21 |
| Total income | 64.53 | 65.24 | 27.34 |
| EBITDA | 12.71 | 9.98 | 3.13 |
| Profit after tax | 6.11 | 6.52 | 1.27 |
| Net worth | 30.33 | 24.22 | 14.90 |
| Reserves and surplus | 15.91 | 9.79 | 2.40 |
| Total assets | 75.61 | 56.83 | 26.75 |
FY 2024-25 vs FY 2023-24: revenue −2.6%, profit after tax −6.3%.
Source: Red Herring Prospectus dated 22 Sept 2025Updated
About the company
The company is a civil engineering and construction firm that supplies and installs waterproofing systems and injection grouting solutions for infrastructure projects. It also builds tunnels, precast concrete structures, slope stabilisation works and MEP services, mostly as a subcontractor to main contractors. Its work spans defence, railway and road projects across several states.
- Incorporated
- 2014
- Industry
- Civil Engineering & Construction
- CIN
- U45400HR2014PLC094931
- Website
- valplastech.com
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Madhunita | Promoter | — | — | 0 |
| Sanjay Kumar | Promoter | 51.99% | 38.21% | 0 |
| Rajeev Tyagi | Promoter | 34.66% | 25.47% | 0 |
| Public (IPO) | Public | — | 26.50% | 52,02,000 |
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for purchase of plant and machinery (Jumbo Tunnel Drilling Machine) | 4.95 |
| Meeting incremental working capital requirements | 14.00 |
| General corporate purposes (capped at 25% of amount raised) | Set with price |
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Valplast Technologies LimitedIssuer | ₹4.24 | — | 20.16% | ₹21.03 |
| SRM Contractors Limited | ₹21.86 | 20.60× | 19.96% | ₹120.09 |
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Promoters have long experience in civil engineering and construction services.
- Offers a broad range of services including waterproofing, grouting, tunnelling and MEP works.
- Holds ISO 9001, 14001 and 45001 certifications.
- Has ongoing projects across several states with a stated order book.
- Revenue has been reported from multiple geographies and client types.
Risks
- Company and promoters are involved in significant pending litigation, including large recovery claims against contractors.
- Contingent liabilities, including income tax demands and bank guarantees, have grown over the years.
- Trade receivables are large relative to revenue, which affects cash flow.
- Much of the business is sub-contracted to main contractors, reducing control over projects.
- No prior public market exists for the shares and the price may not reflect post-listing trading.
Source: Red Herring Prospectus dated 22 Sept 2025Updated
Documents
Contacts
Source: Red Herring Prospectus dated 22 Sept 2025Updated
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.
Source: Red Herring Prospectus dated 22 Sept 2025Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on BSE SME.
Frequently asked questions
When does the Valplast Technologies IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 30 September 2025 and closes on Friday, 3 October 2025.
What is the Valplast Technologies IPO price band?
The price band is ₹51–54 per share, with a face value of ₹10.
What is the lot size of the Valplast Technologies IPO?
One lot is 2,000 shares, which is ₹1.08 L at ₹54 per share.
Where will Valplast Technologies shares list?
On BSE SME.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the Valplast Technologies IPO allotment status?
Search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited) or 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?
₹4.95 Cr for capital expenditure for purchase of plant and machinery (Jumbo Tunnel Drilling Machine), ₹14 Cr for meeting incremental working capital requirements, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.