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Oval Projects Engineering IPO
₹12,800/1600 shares
Minimum Investment
IPO Details
28 Aug 25
01 Sep 25
₹12,800
1600
₹80 to ₹85
BSE
₹46.74 Cr
04 Sep 25
Oval Projects Engineering IPO Timeline
Bidding Start
28 Aug 25
Bidding Ends
01 Sep 25
Allotment Finalisation
02 Sep 25
Refund Initiation
03 Sep 25
Demat Transfer
03 Sep 25
Listing
04 Sep 25
Oval Projects Engineering Limited
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 |
SWOT Analysis of Oval Projects Engineering IPO
Strength and Opportunities
- Strong project execution with over 900 km pipelines laid
- Experienced promoters with robust industry knowledge
- Optimal resource utilisation ensures cost-efficient operations
- Robust order book ensures visible future revenue growth
Risks and Threats
- High reliance on Oil & Gas sector cycles
- Competitive pressure from established EPC players
- Geographical concentration risk in certain regions
- Fluctuations in raw material costs impact margins
Explore IPO Opportunities
Explore our comprehensive IPO pages to stay updated on the latest trends and insights.
About Oval Projects Engineering Limited
Competitive Strengths
- Proven expertise in delivering oil & gas infrastructure projects across India.
- Experienced promoters with deep domain expertise in EPC and O&M solutions.
- Effective utilisation of resources ensuring cost efficiency and timely project delivery.
- Healthy order book supporting predictable business visibility and sustainable growth.
- Strong industry relationships aiding business expansion and repeat project wins.
Peer Group Comparison
| Company Name | EPS (Basic) | NAV (₹) | P/E (x) | RoNW (%) | P/BV Ratio |
| Oval Projects Engineering Limited | 6.65 | 31.89 | 13.91–18.92 | 20.85 | 2.67 |
| Peer Group | |||||
| Likhitha Infrastructure Limited | 17.57 | 5.40 | 15.34 | 18.52 | 53.80 |
| Konstelec Engineers Limited | 3.14 | 20.30 | 19.39 | 4.93 | 3.00 |
How to apply IPO with HDFC SKY?
Follow these simple steps to apply for an IPO through HDFC SKY. Secure your investments and explore new opportunities with ease by accessing the IPOs available on the platform.
1Login to your HDFC SKY Account
2Select Issue
3Enter Number of Lots and your Price.
4Enter UPI ID
5Complete Transaction on Your UPI App
FAQs On Oval Projects Engineering IPO
How can I apply for Oval Projects Engineering Limited IPO?
You can apply via HDFC Sky using UPI-based ASBA for a seamless application process.
What is the minimum investment required in Oval Projects Engineering Limited IPO?
Retail investors need to invest at least ₹2,72,000 for 3,200 shares.
When will Oval Projects Engineering Limited IPO shares be listed?
The shares are scheduled to be listed on BSE SME on 4 September 2025.
What is the price band of Oval Projects Engineering Limited IPO?
The IPO price band is fixed at ₹80 to ₹85 per equity share.
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