Oval Projects Engineering IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Aug 28 to Sep 01 2025
Price Band
₹80 - 85
Current GMP
₹0(0.00%)
Subscription
1.61 times
IPO Details
| IPO Date | August 28, 2025 to September 1, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹80 to ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,99,200 shares (aggregating up to ₹46.74 Cr) |
| Reserved for Market Maker | 3,04,000 shares (aggregating up to ₹2.58 Cr)SMC Global Securities Ltd. |
| Net Offered to Public | 51,95,200 shares (aggregating up to ₹44.16 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,52,70,068 shares |
| Share Holding Post Issue | 2,07,69,268 shares |
IPO Date
August 28, 2025 to September 1, 2025
Listing Date
[.]
Face Value
₹10 per share
Issue Price Band
₹80 to ₹85 per share
Lot Size
1,600 Shares
Sale Type
Fresh Capital
Total Issue Size
54,99,200 shares (aggregating up to ₹46.74 Cr)
Reserved for Market Maker
3,04,000 shares (aggregating up to ₹2.58 Cr)SMC Global Securities Ltd.
Net Offered to Public
51,95,200 shares (aggregating up to ₹44.16 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE SME
Share Holding Pre Issue
1,52,70,068 shares
Share Holding Post Issue
2,07,69,268 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 6.21 |
| Non-Institutional Buyers*** | 0.82 |
| bNII (bids above ₹10L) | 1.46 |
| sNII (bids below ₹10L) | 0.48 |
| Individual Investors (IND category bidding for 2 Lots) | 0.83 |
| Total ** | 1.61 |
Anchor Investors
1
Market Maker
1
QIB (Ex Anchor)
6.21
Non-Institutional Buyers***
0.82
bNII (bids above ₹10L)
1.46
sNII (bids below ₹10L)
0.48
Individual Investors (IND category bidding for 2 Lots)
0.83
Total **
1.61
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Day 1 Aug 28, 2025 | 2.88 | 0.31 | 0.64 | 0.05 | 0.13 | 0.59 |
| Day 2 Aug 29, 2025 | 2.88 | 0.29 | 0.54 | 0.13 | 0.31 | 0.68 |
| Day 3 Sep 1, 2025 | 6.21 | 0.82 | 1.46 | 0.48 | 0.83 | 1.61 |
DayDay 1
Aug 28, 2025
QIB (Ex Anchor)2.88
NII*0.31
NII (> ₹10L)0.64
NII (< ₹10L)0.05
Individual Investors0.13
Total0.59
DayDay 2
Aug 29, 2025
QIB (Ex Anchor)2.88
NII*0.29
NII (> ₹10L)0.54
NII (< ₹10L)0.13
Individual Investors0.31
Total0.68
DayDay 3
Sep 1, 2025
QIB (Ex Anchor)6.21
NII*0.82
NII (> ₹10L)1.46
NII (< ₹10L)0.48
Individual Investors0.83
Total1.61
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 04-09-2025 | 85.00 | 0(0.00%) | 85 |
| 03-09-2025 | 85.00 | 0(0.00%) | 85 |
| 02-09-2025 | 85.00 | 0(0.00%) | 85 |
| 01-09-2025 | 85.00 | 0(0.00%) | 85 |
| 31-08-2025 | 85.00 | 0(0.00%) | 85 |
| 30-08-2025 | 85.00 | 0(0.00%) | 85 |
| 29-08-2025 | 85.00 | 0(0.00%) | 85 |
| 28-08-2025 | 85.00 | 0(0.00%) | 85 |
| 27-08-2025 | 85.00 | 8(9.41%) | 93 |
| 26-08-2025 | 85.00 | 8(9.41%) | 93 |
| 25-08-2025 | 85.00 | 8(9.41%) | 93 |
| 24-08-2025 | 85.00 | 0(0.00%) | 85 |
| 23-08-2025 | 85.00 | 0(0.00%) | 85 |
| 22-08-2025 | 0(%) | (%) |
Date04-09-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date03-09-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date02-09-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date01-09-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date31-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date30-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date29-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date28-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date27-08-2025
Price85.00
GMP8(9.41%)
Estimate List Price93
Date26-08-2025
Price85.00
GMP8(9.41%)
Estimate List Price93
Date25-08-2025
Price85.00
GMP8(9.41%)
Estimate List Price93
Date24-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date23-08-2025
Price85.00
GMP0(0.00%)
Estimate List Price85
Date22-08-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Thu, Aug 28, 2025 |
| IPO Close Date | Mon, Sep 1, 2025 |
| Tentative Allotment | Tue, Sep 2, 2025 |
| Initiation of Refunds | Wed, Sep 3, 2025 |
| Credit of Shares to Demat | Wed, Sep 3, 2025 |
| Tentative Listing Date | Thu, Sep 4, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 1, 2025 |
IPO Open Date
Thu, Aug 28, 2025
IPO Close Date
Mon, Sep 1, 2025
Tentative Allotment
Tue, Sep 2, 2025
Initiation of Refunds
Wed, Sep 3, 2025
Credit of Shares to Demat
Wed, Sep 3, 2025
Tentative Listing Date
Thu, Sep 4, 2025
Cut-off time for UPI mandate confirmation
5 PM on September 1, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares3,200
Amount₹2,72,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares3,200
Amount₹2,72,000
ApplicationS-HNI (Min)
Lots3
Shares4,800
Amount₹4,08,000
ApplicationS-HNI (Max)
Lots7
Shares11,200
Amount₹9,52,000
ApplicationB-HNI (Min)
Lots8
Shares12,800
Amount₹10,88,000
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 156.23 | 103.80 | 82.25 |
| Total Income | 103.44 | 78.99 | 64.09 |
| Profit After Tax | 9.33 | 4.40 | 3.19 |
| EBITDA | 18.08 | 9.89 | 3.46 |
| Net Worth | 55.88 | 33.67 | 17.75 |
| Reserves and Surplus | 40.61 | 20.00 | 17.68 |
| Total Borrowing | 53.70 | 32.41 | 32.21 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 2025156.23
31 Mar 2024103.80
31 Mar 202382.25
Period EndedTotal Income
31 Mar 2025103.44
31 Mar 202478.99
31 Mar 202364.09
Period EndedProfit After Tax
31 Mar 20259.33
31 Mar 20244.40
31 Mar 20233.19
Period EndedEBITDA
31 Mar 202518.08
31 Mar 20249.89
31 Mar 20233.46
Period EndedNet Worth
31 Mar 202555.88
31 Mar 202433.67
31 Mar 202317.75
Period EndedReserves and Surplus
31 Mar 202540.61
31 Mar 202420.00
31 Mar 202317.68
Period EndedTotal Borrowing
31 Mar 202553.70
31 Mar 202432.41
31 Mar 202332.21
Peers Comparison
| Company Name | EPS (Basic) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| Oval Projects Engineering Limited | 6.65 | 31.89 | 20.85 | ||
| Likhitha Infrastructure Limited | 17.57 | 5.40 | 15.34 | 18.52 | 53.80 |
| Konstelec Engineers Limited | 3.14 | 20.30 | 19.39 | 4.93 | 3.00 |
Company NameOval Projects Engineering Limited
EPS (Basic)6.65
NAV (per share) (Rs)31.89
P/E (x)
RoNW (%)20.85
P/BV Ratio
Company NameLikhitha Infrastructure Limited
EPS (Basic)17.57
NAV (per share) (Rs)5.40
P/E (x)15.34
RoNW (%)18.52
P/BV Ratio53.80
Company NameKonstelec Engineers Limited
EPS (Basic)3.14
NAV (per share) (Rs)20.30
P/E (x)19.39
RoNW (%)4.93
P/BV Ratio3.00
IPO Reservation
| Market Maker Shares Offered | 3,04,000 (5.53%) |
| QIB Shares Offered | 15,60,000 (28.37%) |
| − Anchor Investor Shares Offered | 9,36,000 (17.02%) |
| − QIB (Ex. Anchor) Shares Offered | 6,24,000 (11.35%) |
| NII (HNI) Shares Offered | 14,40,000 (26.19%) |
| − bNII > ₹10L | 6,56,000 (11.93%) |
| − sNII < ₹10L | 4,80,000 (8.73%) |
| Retail Shares Offered | 21,95,200 (39.92%) |
| Total Shares Offered | 54,99,200 (100.00%) |
Market Maker Shares Offered
3,04,000 (5.53%)
QIB Shares Offered
15,60,000 (28.37%)
− Anchor Investor Shares Offered
9,36,000 (17.02%)
− QIB (Ex. Anchor) Shares Offered
6,24,000 (11.35%)
NII (HNI) Shares Offered
14,40,000 (26.19%)
− bNII > ₹10L
6,56,000 (11.93%)
− sNII < ₹10L
4,80,000 (8.73%)
Retail Shares Offered
21,95,200 (39.92%)
Total Shares Offered
54,99,200 (100.00%)
Information about company
Incorporated in 2013, Oval Projects Engineering Limited is an infrastructure development company specializing in the Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India.
The company specializes in upstream, midstream, and downstream activities in the Oil and Gas sector, including pipeline laying, processing plants, CGS work, and O&M services for power plants and EPC projects.
The company offers turnkey solutions spanning upstream, midstream, and downstream segments, with a strong presence in regions like Agartala, Tripura, and various other locations nationwide.
The company has successfully executed over 900 km of pipeline installations and continues to engage in diverse projects within the Oil &; Gas and Power sectors.
Business Segment:
Oil & Gas Infrastructure: The company's Oil & Gas Infrastructure vertical focuses on designing and executing gas processing plants, oil/petrochemical storage terminals, pipeline laying, and developing infrastructure for distribution.
Oil and Gas Operation and Maintenance: The company provides O&M services to CGD companies and public sector entities, including pipeline repairs, maintenance, scheduled shutdowns, and management of gas genset power plants and CNG stations.
Special Infrastructure projects: The company gained expertise in civil infrastructure during oil and gas plant projects, executing specialized works. It now handles technical infrastructure projects funded by the government, World Bank, and ADB.
As of March 31, 2025, the company had 123 on-roll employees.
Competitive Strength:
Strong Project execution capabilities
Experienced Promoter and Management Team
Optimal Utilization of Resources
Visible growth through a robust order book
Leveraging the market skills and relationship
Objectives of IPO
The Company Oval Projects IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Utilization towards long-term working capital requirements of our Company
37.03
2
General Corporate Purposes
Disclaimer
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