Bookbuilding IPO | ₹47 Cr | Listed at BSE SME | Thu, Aug 28, 2025 - Mon, Sep 1, 2025
Oval Projects Engineering IPO is a book build issue of ₹46.74 crores. The issue is entirely a fresh issue of 0.55 crore shares of ₹46.74 crore.
Oval Projects Engineering IPO bidding started from Aug 28, 2025 and ended on Sep 1, 2025. The allotment for Oval Projects Engineering IPO was finalized on Sep 2, 2025. The shares got listed on BSE SME on Sep 4, 2025.
Oval Projects Engineering IPO price band is set at ₹85 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,08,000.
SMC Capitals Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is SMC Global Securities Ltd..
Refer to Oval Projects Engineering IPO RHP for detailed Information.
IPO Open
Thu, Aug 28, 2025
IPO Close
Mon, Sep 1, 2025
Issue Price
₹85 per share
Market Cap (Pre-IPO)
₹176.54 Cr
| IPO Date | 28 Aug to 1 Sep, 2025 |
| Listed on | Thu, Sep 4, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 |
| Issue Price | ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 54,99,200 shares (agg. up to ₹47 Cr) |
| Reserved for Market Maker | 3,04,000 shares SMC Global Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 51,95,200 shares (agg. up to ₹44 Cr) |
| Net Offered to Public | 51,95,200 shares (agg. up to ₹44 Cr) |
| Share Holding Pre Issue | 1,52,70,068 shares |
| Share Holding Post Issue | 2,07,69,268 shares |
| BSE Script Code | 544498 |
| ISIN | INE0RTI01017 |
Oval Projects Engineering IPO comprises a total issue size of 54,99,200 shares. The net offer to the public is 51,95,200 shares, after excluding 3,04,000 shares allotted on a firm basis. Of the Net offer 15,60,000 (30.03%) are allocated to QIB, 14,40,000 (27.72%) allocated to NII 21,95,200 (42.25%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 15,60,000 | 30.03% | 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 | 27.72% | 26.19% |
| − bNII > ₹10L | 9,60,000 | 17.46% | |
| − sNII < ₹10L | 4,80,000 | 8.73% | |
| Retail Shares Offered | 21,95,200 | 42.25% | 39.92% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,04,000 | 5.53% | |
| Total Shares Offered | 54,99,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| 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 |
Oval Projects Engineering IPO raises ₹7.96 crore from anchor investors. Oval Projects Engineering IPO Anchor bid date is August 26, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 26, 2025 |
| Shares Offered | 9,36,000 |
| Anchor Portion (₹ Cr.) | 7.96 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 3, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 1, 2025 |
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.
Oval Projects Engineering Ltd.'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 | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Utilization towards long-term working capital requirements of the Company | 37.03 |
| 2 | General Corporate Purposes | 3.94 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 20.85% |
| ROCE | 21.32% |
| RoNW | 20.85% |
| PAT Margin | 9.12% |
| EBITDA Margin | 17.68% |
| Price to Book Value | 2.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.11 | 4.49 |
| P/E (x) | 13.91 | 18.92 |
| Promoter Holding | 72.19% | 53.07% |
| Market Cap | ₹176.54 Cr. |
The Oval Projects Engineering IPO is subscribed 1.61 times on September 1, 2025 5:04:35 PM (Day 3). The public issue subscribed 0.83 times in the individual investors category, 6.21 times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 6.21 | 6,24,000 | 38,76,800 | 0 |
| NII* | 0.82 | 14,40,000 | 11,87,200 | 0 |
| bNII (bids above ₹10L) | 1.46 | 6,56,000 | 9,58,400 | |
| sNII (bids below ₹10L) | 0.48 | 4,80,000 | 2,28,800 | |
| Individual Investors | 0.83 | 21,95,200 | 18,11,200 | 0 |
| Total | 1.61 | 42,59,200 | 68,75,200 | 679 |
Total Application : 679
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM and commission (including selling commission, brokerage and underwriting commission) | 4.66 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.01 |
| 3 | Fees payable to the Registrar to the Issue | 0.05 |
| 4 | Fees payable to regulators including Stock Exchange(s) and other intermediaries | 0.11 |
| 5 | Printing and stationery expenses | 0.02 |
| 6 | Advertising and marketing expenses | 0.21 |
| 7 | Fees payable to legal counsel | 0.24 |
| 8 | Miscellaneous (including fees payable to auditors, consultants, market research firms and other professional agencies) | 0.48 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹85.00 |
| Open | ₹85.25 |
| Low | ₹85.00 |
| High | ₹86.00 |
| Last Trade | ₹85.05 |
Lead Manager Reports
Oval Projects Engineering IPO is a SME IPO of 54,99,200 equity shares of the face value of ₹10 aggregating up to ₹47 Crores. The issue is priced at ₹85 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Aug 28, 2025, and closes on Mon, Sep 1, 2025.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Oval Projects Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Oval Projects Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Oval Projects Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Oval Projects Engineering IPO opens on Thu, Aug 28, 2025 and closes on Mon, Sep 1, 2025.
Oval Projects Engineering IPO lot size is 1600, and the minimum amount required for application is ₹2,72,000, with 2 lots being the minimum application size.
You can apply in Oval Projects Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Oval Projects Engineering IPO will be done on Tuesday, September 2, 2025, and the allotted shares will be credited to your demat account by Wed, Sep 3, 2025. Check the Oval Projects Engineering IPO allotment status.
The Oval Projects Engineering IPO listing date is on Thu, Sep 4, 2025.
