Blue Water Logistics IPO vs Oval Projects Engineering IPO

Comparison between Blue Water Logistics IPO and Oval Projects Engineering IPO.

IPO Details

Blue Water Logistics IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Oval Projects Engineering IPO is a SME Bookbuilding proposed to list at BSE SME.

	Blue Water Logistics IPO	Oval Projects Engineering IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	NSE SME	BSE SME
Lead Managers	Smart Horizon Capital Advisors Pvt.Ltd.	SMC Capitals Ltd.
Registrar	Maashitla Securities Pvt.Ltd.	MAS Services Ltd.
Market Maker	Shreni Shares Ltd.	SMC Global Securities Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Blue Water Logistics IPO is up to ₹38.39 Cr whereas the issue size of the Oval Projects Engineering IPO is up to ₹44.16 Cr. The final issue price of Blue Water Logistics IPO is ₹135.00 per share and of Oval Projects Engineering IPO is ₹85.00 per share.

	Blue Water Logistics IPO	Oval Projects Engineering IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹132.00 per share	₹80.00 per share
Issue Price (Upper)	₹135.00 per share	₹85.00 per share
Issue Price (Final)	₹135.00 per share	₹85.00 per share
Discount (Retail)	₹0.00 per share
Discount (Employee)
Market Lot Size	1000 shares	1600 shares
Fresh Issue Size	28,44,000 shares	51,95,200 shares
Fresh Issue Size (Amount)	up to ₹38.39 Cr	up to ₹44.16 Cr
OFS Issue Size	0 shares	0 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹0.00 Cr
Issue Size Total	28,44,000 shares	51,95,200 shares
Issue Size Total (Amount)	up to ₹38.39 Cr	up to ₹44.16 Cr

IPO Timetable

Blue Water Logistics IPO opens on May 27, 2025, while Oval Projects Engineering IPO opens on Aug 28, 2025. The closing date of Blue Water Logistics IPO and Oval Projects Engineering IPO is May 29, 2025, and Sep 01, 2025, respectively.

	Blue Water Logistics IPO	Oval Projects Engineering IPO
Anchor Bid Date	May 26, 2025	Aug 26, 2025
Issue Open	May 27, 2025	Aug 28, 2025
Issue Close	May 29, 2025	Sep 01, 2025
Basis Of Allotment (Tentative)	May 30, 2025	Sep 02, 2025
Initiation of Refunds (Tentative)	Jun 02, 2025	Sep 03, 2025
Credit of Share (Tentative)	Jun 02, 2025	Sep 03, 2025
Listing date (Tentative)	Jun 03, 2025	Sep 04, 2025
Anchor Lockin End date 1	Jun 29, 2025	Oct 02, 2025
Anchor Lockin End date 2	Aug 29, 2025	Dec 01, 2025

Financials & KPIs

Blue Water Logistics IPO P/E ratio is 10.12, as compared to Oval Projects Engineering IPO P/E ratio of 13.91.

Blue Water Logistics IPO

Oval Projects Engineering IPO

Financials

Blue Water Logistics Limited Financial Information (Restated Consolidated)

Blue Water Logistics Limited's revenue increased by 41% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	76.34	42.12	29.28	38.80
Total Income	196.29	138.74	98.07	84.72
Profit After Tax	10.67	5.94	1.54	1.04
EBITDA	18.75	10.50	3.83	2.35
Net Worth	20.15	9.48	3.54
Reserves and Surplus	12.15	7.48	1.54
Total Borrowing	36.73	17.22	18.81
Amount in ₹ Crore

Oval Projects Engineering Limited Financial Information (Restated Consolidated)

Oval Projects Engineering Limited's revenue increased by 31% and profit after tax (PAT) rose by 112% between the financial year ending with March 31, 2025 and March 31, 2024.

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
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

95.62

72.19

Promoter Shareholding (Post-Issue)

69.55

53.07

P/E Ratio

10.12

13.91

Market Cap

₹148.50 Cr.

₹176.54 Cr.

ROE

72.02%

20.85%

ROCE

0.30

21.32%

Debt/Equity

1.82

EPS

₹13.34

₹6.11

RoNW

52.95%

20.85%

Shares Offered

In the Blue Water Logistics IPO Retail Individual Investors (RII) are offered 10,10,000 shares while in Oval Projects Engineering IPO retail investors are offered 10,10,000 shares. Qualified Institutional Buyers (QIB) are offered 5,59,000 shares in Blue Water Logistics IPO and 6,24,000 shares in Oval Projects Engineering IPO.

	Blue Water Logistics IPO	Oval Projects Engineering IPO
Anchor Investor Reserveration	8,35,000 shares	9,36,000 shares
Market Maker Reserveration	1,56,000 shares	3,04,000 shares
QIB	5,59,000 shares	6,24,000 shares
NII	4,40,000 shares	14,40,000 shares
RII	10,10,000 shares	21,95,200 shares
Employee	0 shares	0 shares
Others
Total	28,44,000 shares	51,95,200 shares

Bids Received (Subscription)

Blue Water Logistics IPO subscribed 9.36x in total, whereas Oval Projects Engineering IPO subscribed 1.61x.

	Blue Water Logistics IPO	Oval Projects Engineering IPO
QIB (times)	14.04x	6.21x
NII (times)	9.87x	0.82x
Big NII (times)		1.46x
Small NII (times)		0.48x
RII (times)	6.55x	0.83x
Employee (times)
Other (times)
Total (times)	9.36x	1.61x

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