Oval Projects Engineering IPO
GMP, Subscription, Price, Dates & Financial Details
Engineering - Construction
Oval Projects Engineering Limited, originally incorporated as Oval Projects Engineering Private Limited on October 7, 2013, is a public limited infrastructure services company headquartered in Agartala, Tripura. The company transitioned from a private to a public entity on August 14, 2024. Led by…
Open Date
Thu, 28 Aug 2025
Close Date
Mon, 01 Sep 2025
Price Band
₹ 80 – 85
Lot Size
1600
Issue Size
₹ 46.74 Cr
Minimum Investment
₹ 272,000 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Oval Projects Engineering IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹46.74 Crore, comprising a fresh issue of 54.99 Lakh equity shares aggregating to ₹46.74 Crore.
The Oval Projects Engineering IPO remained open for subscription from August 28, 2025, to September 01, 2025. The basis of allotment was finalized on September 02, 2025, and the company's shares were listed on BSE SME Platform on September 04, 2025.
The company had fixed the price band at ₹80 to ₹85 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹272,000 (based on the upper price band) to apply for one lot.
Mas Services Limited served as the registrar to the issue. Smc Capitals Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Oval Projects Engineering Ltd is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Oval Projects Engineering IPO Timeline (Tentative)
- IPO Open Date
- Thu, 28 Aug 25
- IPO Close Date
- Mon, 01 Sep 25
- Basis of Allotment
- Tue, 02 Sep 25
- Initiation of Refunds
- Wed, 03 Sep 25
- Credit of Shares to Demat
- Wed, 03 Sep 25
- Listing Date
- Thu, 04 Sep 25 — NSE & BSE
Open Date
28 August 2025
Close Date
01 September 2025
Basis Of Allotment
02 September 2025
Listing Date
04 September 2025
IPO Subscription
Check Live Subscription →The Oval Projects Engineering IPO has received bids for 71,79,200 shares against 45,63,200 shares offered, resulting in an overall subscription of 1.57x. the NII category is subscribed 0.86x, Retail Investors 0.83x, and QIBs 6.21x.
QIB
6.21x
NII
0.86x
RII
0.83x
Total
1.57x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 21,95,200 shares, representing 48.11% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 6,24,000 shares (13.67%), while Non-Institutional Investors (NIIs) receive 17,44,000 shares (38.22%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 624,000 | 13.67% |
| Non-Institutional | 1,744,000 | 38.22% |
| BNII | 960,000 | 21.04% |
| SNII | 480,000 | 10.52% |
| Retail Investors | 2,195,200 | 48.11% |
| Total | 4,563,200 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 156.23 | 103.8 | 82.25 |
| Revenue | 103.44 | 78.99 | 64.09 |
| Profit After Tax | 9.33 | 4.4 | 3.19 |
| Net Worth | 55.88 | 33.67 | 17.75 |
| Reserve & Surplus | 40.61 | 20 | 17.68 |
| Total Borrowings | 53.7 | 32.41 | 32.21 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Oval Projects Engineering Ltd KPI Information
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 20.85 | 17.12 | 19.71 |
| ROCE % | 21.32 | 17.75 | 17.7 |
| RoNW % | 20.85 | 17.12 | 19.71 |
| Pat Margin % | 9.12 | 5.64 | 5.4 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Oval Projects Engineering Ltd | 10 | 0.00 | 6.65 | 6.65 | 20.85 | 31.89 |
| Likhitha Infrastructure Ltd | 5 | 15.34 | 17.57 | 17.57 | 18.52 | 5.40 |
| Konstelec Engineers Ltd | 10 | 19.39 | 3.14 | 3.14 | 4.93 | 20.30 |
About Oval Projects Engineering Ltd
Oval Projects Engineering Limited, originally incorporated as Oval Projects Engineering Private Limited on October 7, 2013, is a public limited infrastructure services company headquartered in Agartala, Tripura. The company transitioned from a private to a public entity on August 14, 2024. Led by its promoter Goutam Debnath, who brings over a decade of technical expertise in oil and gas pipeline infrastructure, the company has evolved from a project management consultancy into a comprehensive EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services provider. Oval Projects primarily serves the oil and gas sector across India, offering a wide range of services including the construction of gas processing plants, oil terminals, pipeline laying (including RTP technology), and City Gas Distribution (CGD) networks. It also undertakes O&M activities for CGD and oil & gas infrastructure, and has extended its capabilities to specialized civil infrastructure projects, including urban development initiatives funded by international financing institutions.
With operations in more than 10 Indian states and a strong presence in the Northeast, the company has a solid network of suppliers and a track record of delivering complex projects. Oval Projects holds ISO certifications in quality, environmental management, and occupational health and safety, underlining its commitment to high standards. Financially, the company has shown consistent growth, with revenues increasing from ₹5,902.14 lakhs in FY 2023 to ₹10,228.99 lakhs in FY 2025, and PAT rising from ₹318.50 lakhs to ₹933.25 lakhs over the same period. As of April 9, 2025, it has over 30 ongoing projects with an order book valued at ₹45,299.61 lakhs. Its key business verticals include Oil & Gas Infrastructure, Oil & Gas O&M Services, and Specialised Infrastructure Projects, positioning the company as a strong player in India’s evolving infrastructure landscape.
Oval Projects Engineering IPO Promoters
- Goutam Debnath
Promoters Holding
Holding Pre Issue
72.19%
Holding Post Issue
53.07%
Oval Projects Engineering IPO Objective
The Company Oval Projects IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Utilization towards long-term working capital requirements of our Company
- General Corporate Purposes
Oval Projects Engineering Ltd Address / Contact Details
Oval Projects Engineering Limited
House No. 451568,
Milan Chakra, (Near Prajapita Brahmakumari Center)
Badharghat, P.O. A.D. Nagar
Agartala, Tripura, 799003
Phone: +91 7085049473
Email: cs@ovalprojects.com
Website: https://www.ovalprojects.com/
IPO Snapshot
Oval Projects Engineering IPO Lot Size
The Oval Projects Engineering IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹2,72,000 by applying for 2 lot (3,200 shares). The maximum application allowed for the retail category is 2 lots (3,200 shares), requiring an investment of ₹2,72,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 272,000.00 |
| Retail (Max) | 2 | 3,200 | 272,000.00 |
| S-HNI (Min) | 3 | 4,800 | 408,000.00 |
| S-HNI (Max) | 7 | 11,200 | 952,000.00 |
| B-HNI (Min) | 8 | 12,800 | 1,088,000.00 |
Issue Reservation
- QIB — 13.67%
- NII — 38.22%
- RII — 48.11%
Book Running Lead Managers
- Smc Capitals Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Oval Projects Engineering IPO?
Oval Projects Engineering IPO is a Book-building IPO with a total issue size of ₹46.74 crore. The Oval Projects Engineering IPO price band is ₹80 to 85 per share. The Oval Projects Engineering IPO subscription opens on Thu, Aug 28, 2025, and closes on Mon, Sep 1, 2025. The Oval Projects Engineering IPO will be listed on the BSE. Mas Services Limited is the registrar for the Oval Projects Engineering IPO.
When will the Oval Projects Engineering IPO open for subscription?
The Oval Projects Engineering IPO opens on Thu, Aug 28, 2025 and closes on Mon, Sep 1, 2025
What is Oval Projects Engineering IPO Price Band?
Oval Projects Engineering IPO Price Band is ₹80 to 85 per share.
What is Oval Projects Engineering IPO Lot Size?
Oval Projects Engineering IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹272000 based on the upper price band
What is the minimum investment for Oval Projects Engineering IPO?
The minimum investment for Oval Projects Engineering IPO is ₹272000, based on one lot of 1600 shares at the upper price band of ₹85 per share.
How to apply for Oval Projects Engineering IPO?
Investors can apply for the Oval Projects Engineering IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Mon, Sep 1, 2025. The application amount remains blocked until the Oval Projects Engineering IPO allotment is finalized.
What is Oval Projects Engineering IPO Issue Size?
Oval Projects Engineering IPO issue size is ₹46.74 crores.
What is the Oval Projects Engineering IPO Allotment Date?
Oval Projects Engineering IPO allotment date is Tue, Sep 2, 2025.
Who is the Oval Projects Engineering IPO Registrar?
The registrar for Oval Projects Engineering IPO is Mas Services Limited. Investors can go to Mas Services Limited website to check Oval Projects Engineering IPO allotment status, refund processing, and other IPO-related information.
What is the Oval Projects Engineering IPO GMP?
The Oval Projects Engineering IPO GMP (Grey Market Premium) is ₹4 as of Thu, Aug 28, 2025. Based on the upper price band of ₹85 per share, the estimated Oval Projects Engineering IPO listing price is ₹89, indicating a potential listing gain of approximately 4.71% over the issue price.
Who is the Oval Projects Engineering IPO Lead Manager?
The book-running lead managers (BRLMs) for the Oval Projects Engineering IPO are Smc Capitals Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Oval Projects Engineering IPO Red Herring Prospectus (RHP).