Oval Projects Engineering IPO

Founded in 2013, Oval Projects Engineering Limited is an infrastructure development company with expertise in Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India. It undertakes upstream, midstream, and downstream activities, including pipeline laying, processing plants, CGS works, and O&M services for power plants and EPC projects. The company has executed more than 900 km of pipeline installations and delivers turnkey solutions nationwide. Its business spans oil and gas infrastructure, operation and maintenance services, and specialised infrastructure projects supported by government and global agencies.

Oval Projects Engineering Limited IPO Overview

Oval Projects Engineering IPO is a book-built issue worth ₹46.74 crore, consisting entirely of a fresh issue of 0.55 crore equity shares. The subscription window for the IPO will open on August 28, 2025, and close on September 1, 2025. The basis of allotment is expected to be finalised on September 2, 2025, while the shares are scheduled to list on the BSE SME platform on September 4, 2025. The price band for the IPO is fixed between ₹80 and ₹85 per share, with a lot size of 1,600 shares. For retail investors, the minimum investment requirement is ₹2,72,000 for 3,200 shares at the upper price band, while HNI investors need to apply for a minimum of 3 lots (4,800 shares), amounting to ₹4,08,000. The issue is managed by SMC Capitals Ltd. as the book running lead manager, with MAS Services Ltd. acting as the registrar, and SMC Global Securities Ltd. serving as the market maker.

Oval Projects Engineering Limited IPO Details

Particulars	Details
IPO Date	28 August 2025 to 1 September 2025
Listing Date	4 September 2025
Face Value	₹10 per share
Issue Price Band	₹80 to ₹85 per share
Lot Size	1,600 Shares
Total Issue Size	54,99,200 shares (aggregating up to ₹46.74 Cr)
Fresh Issue	54,99,200 shares (aggregating up to ₹46.74 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	1,52,70,068 shares
Share Holding Post Issue	2,07,69,268 shares
Market Maker Portion	3,04,000 shares

Oval Projects Engineering Limited IPO Reservation

Investor Category	Shares Offered
Market Maker	3,04,000 (5.53%)
QIB	15,60,000 (28.37%)
NII (HNI)	14,40,000 (26.19%)
Retail	21,95,200 (39.92%)
Anchor Investors	9,36,000 (17.02%)
Total	54,99,200 (100.00%)

Oval Projects Engineering Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,72,000
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 Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	72.19%
Post-Issue	[To be updated based on dilution]

Oval Projects Engineering Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹6.65
Price/Earnings (P/E) Ratio	13.91 – 18.92
Return on Net Worth (RoNW)	20.85%
Net Asset Value (NAV)	₹31.89
Return on Equity	20.85%
Return on Capital Employed (ROCE)	21.32%
EBITDA Margin	17.68%
PAT Margin	9.12%
Debt to Equity Ratio	0.96

Objectives of the Proceeds

• Fund long-term working capital requirements of the company – ₹37.03 Cr

• Support general corporate purposes to enhance overall business operations

Key Financials (₹ in Crores)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	156.23	103.80	82.25
Revenue	103.44	78.99	64.09
Profit After Tax	9.33	4.40	3.19
Reserves and Surplus	40.61	20.00	17.68
Total Borrowings	53.70	32.41	32.21