Vans Electroengineering IPO Subscription Day 2: 64.69x

Mumbai, September 30: Vans Electroengineering IPO was subscribed 64.69 times overall by the end of Day 2 of bidding on Wednesday, September 30, 2026. The IPO received bids for 12,48,32,400 shares against 19,29,600 shares offered to investors.

The individual investors category was subscribed 101.85 times, while the NII category was subscribed 71.87 times. The QIB (Ex Anchor) portion was subscribed 0.03 times, while the employee portion was subscribed 0.38 times.

The IPO opened for subscription on September 29, 2026, and will remain open until October 1, 2026.

Vans Electroengineering IPO Subscription Status

The individual investors category received bids for 9,58,23,600 shares against 9,40,800 shares offered, resulting in a subscription of 101.85 times.

The NII category received bids for 2,89,76,400 shares against 4,03,200 shares offered, resulting in a subscription of 71.87 times.

Within the NII segment, the bNII portion was subscribed 68.65 times, while the sNII portion was subscribed 78.12 times.

The QIB (Ex Anchor) category received bids for 14,400 shares against 5,37,600 shares available, resulting in a subscription of 0.03 times.

The employee category was subscribed 0.38 times, receiving bids for 18,000 shares against 48,000 shares offered.

The market maker portion of 1,46,400 shares was fully subscribed at 1.00 times.

Overall, the IPO received bids for 12,48,32,400 shares against 19,29,600 shares offered, taking the overall subscription to 64.69 times.

The total amount of bids stood at ₹1,473.02 crore, based on the upper end of the price band.

The issue had received 44,643 applications as of the Day 2 subscription update.

Day-wise Vans Electroengineering IPO Subscription

Date	QIB (Ex Anchor)	NII	NII (> ₹10L)	NII (< ₹10L)	Individual Investors	EMP	Total
Sep 29 (Day 1)	0.00x	2.10x	1.76x	2.76x	4.55x	0.08x	2.66x
Sep 30 (Day 2)	0.03x	71.87x	68.65x	78.12x	101.85x	0.38x	64.69x

Vans Electroengineering IPO Details

Vans Electroengineering IPO is a ₹33.98 crore book-built issue comprising an entirely fresh issue of 28.80 lakh shares.

The IPO has a price band of ₹112 to ₹118 per share. The lot size is 1,200 shares.

For individual investors, the minimum application is 2 lots, or 2,400 shares, requiring an investment of ₹2,83,200 at the upper price.

For HNI investors, the minimum application is 3 lots, or 3,600 shares, amounting to ₹4,24,800 at the upper price.

The IPO opened on September 29, 2026, and will close on October 1, 2026.

The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of October 7, 2026.

Hem Securities Ltd. is the book-running lead manager, while Bigshare Services Pvt Ltd. is the registrar to the issue. Hem Finlease Pvt Ltd. is the market maker.

Vans Electroengineering IPO Issue Size

Particulars	Details
Total Issue Size	28,80,000 shares
Fresh Issue	28,80,000 shares
Issue Amount	₹33.98 crore
Market Maker Reservation	1,46,400 shares
Net Offered to Public	27,33,600 shares
Face Value	₹10 per share
Price Band	₹112 to ₹118
Issue Price	₹118 per share
Lot Size	1,200 shares
Issue Type	Bookbuilding IPO
Sale Type	Fresh capital only
Listing Platform	BSE SME

Vans Electroengineering IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter.

Application	Lots	Shares	Amount
Individual Investors (Min)	2	2,400	₹2,83,200
Individual Investors (Max)	2	2,400	₹2,83,200
S-HNI (Min)	3	3,600	₹4,24,800
S-HNI (Max)	7	8,400	₹9,91,200
B-HNI (Min)	8	9,600	₹11,32,800
Employee (Min)	2	2,400	₹2,83,200
Employee (Max)	3	3,600	₹4,24,800

Vans Electroengineering IPO Allotment and Listing

The Vans Electroengineering IPO is still open for subscription and will close on October 1, 2026.

The tentative allotment is scheduled for October 5, 2026. Refunds are expected to begin on October 6, while shares are scheduled to be credited to successful applicants on the same day.

The IPO is tentatively scheduled to list on the BSE SME platform on October 7, 2026.

Vans Electroengineering IPO Timeline

Event	Date
IPO Open	September 29, 2026
IPO Close	October 1, 2026
Allotment	October 5, 2026
Refund	October 6, 2026
Credit of Shares	October 6, 2026
Listing	October 7, 2026

About Vans Electroengineering Ltd.

Incorporated in February 2022, Vans Electroengineering Limited is engaged in the manufacturing and supply of components used in traction power supply and overhead equipment systems for Indian railway electrification infrastructure, metro systems and renewable energy applications.

The company primarily supplies products to Indian Railways and railway contractors and operates from its registered office and manufacturing facility in Salem, Tamil Nadu.

Its product portfolio includes Single Pole and Double Pole Vacuum Circuit Breakers (VCBs), Vacuum Interrupters (VIs) and other products used in traction substations, sectioning posts, feeding posts and railway electrification systems. The company also manufactures products approved by the Research Designs and Standards Organisation (RDSO) and has received approvals from the Central Organisation for Railway Electrification (CORE).

Conclusion

Vans Electroengineering IPO was subscribed 64.69 times by the end of Day 2, with individual investors recording a subscription of 101.85 times and NII at 71.87 times. The QIB (Ex Anchor) category stood at 0.03 times.

The IPO is not closed yet. It will remain open for subscription on October 1, 2026.

Source:

• https://www.bseindia.com/markets/publicissues/displayipo?id=4869&type=IPO&idtype=1&status=L&IPONo=8019&startdt=29%2F09%2F2026