Vectras Enprocon IPO: Price Band, Lot Size, Financials & Review
Vectras Enprocon IPO is open for subscription until Tue, 3 Nov 2026. It is subscribed 1.20x overall so far (Day 1 of 3). The price band is ₹99 – ₹105 with a lot of 1200 shares, so one retail lot costs ₹2,52,000 at the upper band. The latest GMP is 0 (0.00%), implying an estimated listing price of ₹105.
- Open Date
- 30 Oct 2026
- Close Date
- 3 Nov 2026
Last updated
- Price band
- ₹99 – ₹105
- Lot size
- 1,200 shares
- Min. investment
- ₹2,52,000
- Issue size
- ₹53.05 Cr
- GMP
- 0
- Subscribed
- 🔥 1.20x
Vectras Enprocon IPO details
Vectras Enprocon IPO is a ₹53.05 Cr book-building IPO on the SME segment, listing on BSE. It combines a fresh issue of ₹42.59 Cr (80.28%) with an offer for sale of ₹10.46 Cr (19.72%) by existing shareholders. Only the fresh issue money goes to the company.
The issue opened on Fri, 30 Oct 2026 and closes on Tue, 3 Nov 2026. Allotment is expected on Wed, 4 Nov 2026 and listing on Fri, 6 Nov 2026.
The price band is ₹99 to ₹105 per share and the lot size is 1200 shares, so the minimum retail application is ₹2,52,000. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,52,000).
MUFG Intime India Pvt Ltd is the registrar, and Beeline Capital Advisors Pvt Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The latest Vectras Enprocon IPO GMP is 0 as of 31 Oct (0.00% against the upper price band of ₹105), implying an estimated listing price of ₹105. Across 2 days of tracking, GMP ranged from 0 (30 Oct) to 0 (30 Oct).
| Latest GMP | 0 |
|---|---|
| GMP vs upper band | 0.00% |
| Estimated listing price | ₹105 |
| Highest (30 Oct) | 0 |
| Lowest (30 Oct) | 0 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Vectras Enprocon IPO day-wise GMP.
Subscription
Day-wise subscription →Vectras Enprocon IPO is subscribed 1.20x overall so far (Day 1 of 3): QIB 1.42x, NII 1.30x and retail 1.03x.
| Category | Subscribed |
|---|---|
| QIB | 1.42x |
| NII | 1.30x |
| └ bNII (above ₹10 lakh) | 1.43x |
| └ sNII (₹2–10 lakh) | 1.03x |
| Retail | 1.03x |
| Total | 1.20x |
Cumulative figures as of Day 1 of 3; updated during bidding hours. Category-wise bids, application-wise breakup and allotment chances are on the Vectras Enprocon IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 14,38,800 | 29.98% |
| Qualified Institutions | 9,60,000 | 20.01% |
| Non-Institutional | 7,20,000 | 15.00% |
| └ BNII | 4,82,400 | 10.05% |
| └ SNII | 2,37,600 | 4.95% |
| Retail Investors | 16,80,000 | 35.01% |
| Total | 47,98,800 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Vectras Enprocon IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,52,000 |
| Retail (Max) | 2 | 2,400 | ₹2,52,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,78,000 |
| S-HNI (Max) | 7 | 8,400 | ₹8,82,000 |
| B-HNI (Min) | 8 | 9,600 | ₹10,08,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹42.59 Cr (80.28%) with an offer for sale of ₹10.46 Cr (19.72%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹105, the issue is priced at 10.20x pre-issue earnings and 10.99x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 21.41x (2 companies).
Promoter holding falls from 100.00% before the issue to 73.49% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹10.29 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 10.20x |
| EPS (post-issue) EPS on the enlarged share capital | ₹9.55 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 10.99x |
| Promoter holding (pre-issue) | 100.00% |
| Promoter holding (post-issue) | 73.49% |
Vectras Enprocon Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹80.53 Cr to ₹119.9 Cr, and profit after tax rose from ₹10.17 Cr to ₹15.43 Cr. The PAT margin for 31 Mar 2026 was 12.87%.
| 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 |
| Reserve & Surplus | 31.85 | 22.75 | 19.82 | 9.65 |
| Total Borrowings | 31.36 | 22.21 | 11.87 | 4.16 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 30 Sep 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| ROE % | 21.52 | 51.39 | 59.00 | 93.02 |
| ROCE % | 19.69 | 48.37 | 56.09 | 79.27 |
| Debt / Equity | 0.67 | 0.59 | 0.53 | 0.34 |
| RoNW % | 21.52 | 51.39 | 59.00 | 93.02 |
| Pat Margin % | 12.65 | 12.88 | 12.63 | 10.70 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Vectras Enprocon Ltd | 10 | — | 10.29 | 10.29 | 51.39% | 25.17 |
| Pratham EPC Projects Ltd | 10 | 34.47 | 3.38 | 3.38 | 7.44% | 49.94 |
| Desco Infratech Ltd | 10 | 8.35 | 21.30 | 21.30 | 25.21% | 92.22 |
Notes
The closing market price (CMP) is the closing market price of equity shares on NSE/BSE on October 09, 2026.
P/E Ratio has been computed based on the closing market price of equity shares divided by the Diluted EPS for the financial year ended March 31, 2026.
Return on Net Worth (RoNW) is computed as Net Profit after Tax divided by the Average Net Worth. Net Worth has been computed as sum of Share Capital and Reserves and Surplus.
Net asset Value (NAV) is computed as the closing Net Worth divided by the closing outstanding number of equity shares, adjusted for bonus issuance, if any.
The face value of Equity Shares of our Company is ₹ 10 per Equity Share and the Offer price is [●] times the face value of equity share.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment / prepayment, in full or part, of certain outstanding borrowings availed by our Company | 14.00 |
| 2 | To Meet Working Capital Requirements | 20.00 |
| 3 | General Corporate Purpose | — |
| Total | 34 |
About Vectras Enprocon Limited
Vectras Enprocon Ltd. is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating primarily in the midstream and downstream segments of the Oil & Gas industry. The company specializes in developing pipeline networks, constructing combined stations, and delivering associated infrastructure across multiple states in India.
Business Verticals
1. Combined Oil & Gas Station Works
Vectras Enprocon undertakes mechanical, electrical, and civil construction activities for refineries, petrochemical complexes, gas processing units, oil & gas terminals, and petroleum depots.
- Unexecuted order book (as of August 31, 2025): ₹15,088.80 lakh
2. Midstream and Downstream Pipeline Projects
The company executes cross-country pipelines and related facilities, including design, construction, testing, and commissioning of oil & gas pipeline systems.
- Pipeline order book (as of August 31, 2025): ₹8,767.27 lakh
3. Other Allied Services
Vectras Enprocon provides additional services for the Oil & Gas sector, including:
- Civil and infrastructure works
- Electrical and instrumentation services
- Inspection, testing, and safety auditing
Capabilities and Track Record
The company has built strong competencies across the full EPC value chain, including design, engineering, procurement, construction, testing, and commissioning of pipelines and station facilities. Its completed work includes:
- 3,34,000+ inch-dia of piping
- 785 inch-kilometres of pipelines
- 4 combined station projects
Client Base and Certifications
Vectras Enprocon serves both public and private sector Oil & Gas companies in India. It maintains multiple ISO certifications covering quality management, environmental standards, occupational health and safety, and instrumentation.
Human Resources
As of August 31, 2025, the company employs 279 permanent personnel across its various operational and support divisions.
Promoters
- Naynesh Kanubhai Patel
- Maheshkumar Gopalbhai Patel
Contact details
Vectras Enprocon Ltd.
Office No. 601-602,
Amrakunj Avis, Near Tapovan circle,
Chandkheda
Ahmedabad, Gujarat, 382424
Phone: +91 63531 52513
Email: compliance@vectrasgroup.com
Website: http://www.vectrasgroup.com/
Vectras Enprocon IPO FAQs
- What is the Vectras Enprocon IPO price band?
- The Vectras Enprocon IPO price band is ₹99 to ₹105 per share.
- What is the Vectras Enprocon IPO lot size and minimum investment?
- The Vectras Enprocon IPO lot size is 1200 shares. The minimum retail investment is ₹2,52,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares), costing ₹2,52,000.
- When does Vectras Enprocon IPO close?
- Vectras Enprocon IPO opened on Fri, 30 Oct 2026 and closes on Tue, 3 Nov 2026.
- What is the Vectras Enprocon IPO subscription status?
- Vectras Enprocon IPO is subscribed 1.20x overall so far (Day 1 of 3): QIB 1.42x, NII 1.30x and retail 1.03x. Day-wise and category-wise figures are on the subscription page.
- What is the Vectras Enprocon IPO GMP today?
- The latest Vectras Enprocon IPO GMP is 0 as of 31 Oct (0.00% against the upper price band of ₹105), implying an estimated listing price of ₹105. Across 2 days of tracking, GMP ranged from 0 (30 Oct) to 0 (30 Oct). GMP is an unofficial grey market indicator and can change quickly.
- What is the Vectras Enprocon IPO allotment date?
- The Vectras Enprocon IPO basis of allotment is expected on Wed, 4 Nov 2026. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the Vectras Enprocon IPO listing date?
- Vectras Enprocon IPO is expected to list on BSE on Fri, 6 Nov 2026.
- Is the Vectras Enprocon IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹42.59 Cr (80.28%) with an offer for sale of ₹10.46 Cr (19.72%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Vectras Enprocon IPO?
- The registrar for the Vectras Enprocon IPO is MUFG Intime India Pvt Ltd, and the book running lead manager is Beeline Capital Advisors Pvt Ltd.
- How to apply for the Vectras Enprocon IPO?
- Apply through your broker app or net banking using UPI or ASBA. Select the IPO, enter the number of lots and your bid (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on Tue, 3 Nov 2026.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.