Vectras Enprocon IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Allotment Out
Dates
Oct 30 to Nov 03 2026
Price Band
₹99 - 105
Current GMP
₹0 (0%)
Subscription
4.20 times
IPO Details
| IPO Date | 30 Oct to 3 Nov, 2026 |
| Listed on | Fri, Nov 6, 2026 |
| Face Value | 10 per share |
| Price Band | 99 to 105 |
| Issue Price | 105 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 50,52,000 shares (agg. up to ₹ 53.05 Cr) |
| Reserved for Market Maker | 2,53,200 shares (agg. up to ₹ 3 Cr) Spread X Securities Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 38,02,800 shares (agg. up to ₹ 39.93 Cr) |
| Offer for Sale | 9,96,000 shares of ₹ 10 (agg. up to ₹ 10.46 Cr) |
| Net Offered to Public | 47,98,800 shares (agg. up to ₹ 50.39 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 1,90,56,000 shares |
| BSE Script Code | 545020 |
| ISIN | INE1FD201014 |
IPO Date
30 Oct to 3 Nov, 2026
Listed on
Fri, Nov 6, 2026
Face Value
10 per share
Price Band
99 to 105
Issue Price
105 per share
Lot Size
1,200 Shares
Sale Type
Fresh capital cum OFS
Issue Type
Bookbuilding IPO
Listing At
BSE SME
Total Issue Size
50,52,000 shares (agg. up to ₹ 53.05 Cr)
Reserved for Market Maker
2,53,200 shares (agg. up to ₹ 3 Cr) Spread X Securities Pvt.Ltd.
Fresh Issue (Ex Market Maker)
38,02,800 shares (agg. up to ₹ 39.93 Cr)
Offer for Sale
9,96,000 shares of ₹ 10 (agg. up to ₹ 10.46 Cr)
Net Offered to Public
47,98,800 shares (agg. up to ₹ 50.39 Cr)
Share Holding Pre Issue
1,50,00,000 shares
Share Holding Post Issue
1,90,56,000 shares
BSE Script Code
545020
ISIN
INE1FD201014
IPO Subscription Details
| Anchor | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 1.88 |
| NII*** | 6.69 |
| bNII (> ₹10L) | 7.45 |
| sNII (< ₹10L) | 5.14 |
| Individual Investors | 4.45 |
| Total ** | 4.20 |
Anchor
1
Market Maker
1
QIB (Ex Anchor)
1.88
NII***
6.69
bNII (> ₹10L)
7.45
sNII (< ₹10L)
5.14
Individual Investors
4.45
Total **
4.20
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Oct 3 0 (Day 1) | 1.42 | 1.30 | 1.43 | 1.03 | 1.03 | 1.20 |
| Nov 2 (Day 2) | 1.42 | 1.13 | 1.05 | 1.30 | 1.33 | 1.31 |
| Nov 3 (Day 3) | 1.88 | 6.69 | 7.45 | 5.14 | 4.45 | 4.20 |
DayOct 3
0 (Day 1)
QIB (Ex Anchor)1.42
NII*1.30
NII (> ₹10L)1.43
NII (< ₹10L)1.03
Individual Investors1.03
Total1.20
DayNov 2
(Day 2)
QIB (Ex Anchor)1.42
NII*1.13
NII (> ₹10L)1.05
NII (< ₹10L)1.30
Individual Investors1.33
Total1.31
DayNov 3
(Day 3)
QIB (Ex Anchor)1.88
NII*6.69
NII (> ₹10L)7.45
NII (< ₹10L)5.14
Individual Investors4.45
Total4.20
Day Wise GMP
| GMP Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 06-11-2026 | 105 | 0 (0%) | 105 |
GMP Date06-11-2026
IPO Price105
GMP0 (0%)
Est. Listing Price105
IPO Important Dates
| IPO Open | Fri, Oct 30, 2026 |
| IPO Close | Tue, Nov 3, 2026 |
| Allotment | Wed, Nov 4, 2026 |
| Refund | Thu, Nov 5, 2026 |
| Credit of Shares | Thu, Nov 5, 2026 |
| Listing | Fri, Nov 6, 2026 |
IPO Open
Fri, Oct 30, 2026
IPO Close
Tue, Nov 3, 2026
Allotment
Wed, Nov 4, 2026
Refund
Thu, Nov 5, 2026
Credit of Shares
Thu, Nov 5, 2026
Listing
Fri, Nov 6, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,52,000 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,52,000 |
| S-HNI (Min) | 3 | 3600 | ₹3,78,000 |
| S-HNI (Max) | 7 | 8400 | ₹8,82,000 |
| B-HNI (Min) | 8 | 9600 | ₹10,08,000 |
ApplicationIndividual investors (IND) (Min)
Lots2
Shares2400
Amount₹2,52,000
ApplicationIndividual investors (IND) (Max)
Lots2
Shares2400
Amount₹2,52,000
ApplicationS-HNI (Min)
Lots3
Shares3600
Amount₹3,78,000
ApplicationS-HNI (Max)
Lots7
Shares8400
Amount₹8,82,000
ApplicationB-HNI (Min)
Lots8
Shares9600
Amount₹10,08,000
Financial Information
| Period Ended | 30 Sep 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 90.91 | 74.94 | 46.50 | 21.47 |
| Total Income | 72.20 | 119.90 | 80.53 | 54.37 |
| Profit After Tax | 9.10 | 15.43 | 10.17 | 5.81 |
| EBITDA | 14.54 | 24.01 | 15.05 | 8.67 |
| NET Worth | 46.85 | 37.75 | 22.32 | 12.15 |
| Reserves and Surplus | 31.85 | 22.75 | 19.82 | 9.65 |
| Total Borrowing | 31.36 | 22.21 | 11.87 | 4.16 |
Period EndedAssets
30 Sep 202690.91
31 Mar 202674.94
31 Mar 202546.50
31 Mar 202421.47
Period EndedTotal Income
30 Sep 202672.20
31 Mar 2026119.90
31 Mar 202580.53
31 Mar 202454.37
Period EndedProfit After Tax
30 Sep 20269.10
31 Mar 202615.43
31 Mar 202510.17
31 Mar 20245.81
Period EndedEBITDA
30 Sep 202614.54
31 Mar 202624.01
31 Mar 202515.05
31 Mar 20248.67
Period EndedNET Worth
30 Sep 202646.85
31 Mar 202637.75
31 Mar 202522.32
31 Mar 202412.15
Period EndedReserves and Surplus
30 Sep 202631.85
31 Mar 202622.75
31 Mar 202519.82
31 Mar 20249.65
Period EndedTotal Borrowing
30 Sep 202631.36
31 Mar 202622.21
31 Mar 202511.87
31 Mar 20244.16
Key Performance Indicator
| ROE | 21.52% |
| ROCE | 19.69% |
| Debt/Equity | 0.67 |
| RoNW | 21.52% |
| PAT Margin | 12.65% |
| EBITDA Margin | 20.21% |
| NAV | 31.23 |
| P/B (x) | 3.36 |
ROE
21.52%
ROCE
19.69%
Debt/Equity
0.67
RoNW
21.52%
PAT Margin
12.65%
EBITDA Margin
20.21%
NAV
31.23
P/B (x)
3.36
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Vectras Enprocon | 10.29 | 10.29 | 25.17 | 51.39 | Standalone | ||
| Pratham EPC Projects | 3.38 | 3.38 | 49.94 | 34.47 | 7.44 | 2.37 | Consolidated |
| Desco Infratech | 21.30 | 21.30 | 92.22 | 8.35 | 25.21 | 1.92 | Consolidated |
| Likhitha Infrastructure | 9.94 | 9.94 | 104.44 | 22.43 | 9.82 | 2.13 | Consolidated |
Company NameVectras Enprocon
EPS (Basic)10.29
EPS (Diluted)10.29
NAV (₹ per share)25.17
P/E (x)
RoNW (%)51.39
P/BV Ratio
Financial statementsStandalone
Company NamePratham EPC Projects
EPS (Basic)3.38
EPS (Diluted)3.38
NAV (₹ per share)49.94
P/E (x)34.47
RoNW (%)7.44
P/BV Ratio2.37
Financial statementsConsolidated
Company NameDesco Infratech
EPS (Basic)21.30
EPS (Diluted)21.30
NAV (₹ per share)92.22
P/E (x)8.35
RoNW (%)25.21
P/BV Ratio1.92
Financial statementsConsolidated
Company NameLikhitha Infrastructure
EPS (Basic)9.94
EPS (Diluted)9.94
NAV (₹ per share)104.44
P/E (x)22.43
RoNW (%)9.82
P/BV Ratio2.13
Financial statementsConsolidated
IPO Reservation
| QIB | 23,98,800 |
| − Anchor Investor | 14,38,800 |
| − QIB (Ex. Anchor) | 9,60,000 |
| NII (HNI) | 7,20,000 |
| − bNII > ₹10L | 4,82,400 |
| − sNII < ₹10L | 2,37,600 |
| Retail | 16,80,000 |
| Market Maker | 2,53,200 |
| Total | 50,52,000 |
QIB
23,98,800
− Anchor Investor
14,38,800
− QIB (Ex. Anchor)
9,60,000
NII (HNI)
7,20,000
− bNII > ₹10L
4,82,400
− sNII < ₹10L
2,37,600
Retail
16,80,000
Market Maker
2,53,200
Total
50,52,000
Information about company
Vectras Enprocon Ltd. is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating in the midstream and downstream segments of the Oil & Gas industry. The company specializes in laying pipeline networks, building combined stations, and constructing related facilities across multiple states in India.
Business Verticals:
The company has developed strong capabilities in designing, engineering, procuring, constructing, testing, and commissioning Oil & Gas pipelines and stations. It has completed over 3,34,000 inch dia piping, 785 inch-kilometer pipelines, and 4 combined station projects.
The company serves both public and private oil and gas companies and maintains ISO certifications for quality, safety, environmental, and instrumentation standards.
As of September 30, 2026, the company had 990 employees across multiple divisions.
Competitive Strengths
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue Objects
1: Repayment / prepayment, in full or part, of certain outstanding borrowings availed by Company
2: To Meet Working Capital Requirements of Company
3: General Corporate Purposes
4: Issue Expenses
: Total
Disclaimer
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