Oval Projects Engineering Limited
Bookbuilding IPO · BSE
- Price band
- ₹80 - ₹85
- Lot size
- 1,600 shares
- Issue amount
- ₹46.74 cr
- Total subscription
- 2.46×
- Opens
- 28 Aug 2025
- Closes
- 1 Sept 2025
- Allotment
- 2 Sept 2025
- Listing
- 4 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 54,99,200 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,28,000
- Fresh issue
- ₹46.74 cr
- Offer for sale
- ₹0 cr
- Registrar
- Mas Services Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,36,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,52,70,068
- Shares after issue
- 2,07,69,268
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,72,000 |
| sHNI | 3 | 4,800 | ₹4,08,000 |
| bHNI | 8 | 12,800 | ₹10,88,000 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 2 |
| NIB | 0 | 548 |
| RETAIL | 686 | 810 |
| HNIs(10L +) | 200 | 525 |
| HNIs (2-10L) | 100 | 39 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 5.3 | 32.95 |
| FIIs | 0 | 17.65 |
| Others | 0 | 15.3 |
| RETAIL | 18.66 | 15.4 |
| HNIs 2+ | 4.08 | 1.94 |
| HNIs 10+ | 8.16 | 40.16 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 6.65 | 6.37 | 2.84 |
| ROE | 0 | 0 | 0 |
| ROCE | 21.32 | 17.75 | 17.7 |
| RONW | 20.85 | 17.12 | 19.71 |
| PRE IPO(PE) | 13.91 | 0 | 0 |
| POST IPO(PE) | 18.92 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Oval Projects Engineering Limited | NA | NA | 10.00 | 31.89 | 20.85 | 6.65 |
| Likhitha Infrastructure Limited | 15.34 | 269.55 | 5.00 | 5.40 | 18.52 | 17.57 |
| Konstelec Engineers Limited ** | 19.39 | 60.90 | 10.00 | 20.30 | 4.93 | 3.14 |
Company information
Company profile
Incorporated in 2013, Oval Projects Engineering Limited is an infrastructure development company engaged in the Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India. It operates across upstream, midstream, and downstream activities in the Oil and Gas industry, offering services such as pipeline laying, processing plants, CGS work, and O&M services for power plants and EPC projects. With turnkey solutions spanning the entire value chain, the company has established a strong presence in regions like Agartala, Tripura, and various other locations nationwide. Over the years, it has successfully executed more than 900 km of pipeline installations and continues to deliver diverse projects in both the Oil & Gas and Power sectors. Its business segments include Oil & Gas Infrastructure, which covers the design and execution of gas processing plants, oil and petrochemical storage terminals, pipeline construction, and distribution infrastructure; Oil and Gas Operation and Maintenance, which provides services to CGD companies and public sector entities for pipeline repairs, scheduled shutdowns, power plant management, and CNG station operations; and Special Infrastructure Projects, where the company leverages its expertise in civil infrastructure gained from oil and gas projects to execute technical infrastructure initiatives funded by the government, World Bank, and ADB. As of March 31, 2025, the company employed 123 people on its rolls.
Strengths
- Experienced Leadership: promoter Goutam Debnath (15+ years) with skilled management team across technical, operational, and business areas
- Efficient Resource Use: focus on process improvements, skill upgrades, modern machinery, and streamlined procurement
- Strong Order Book: 30+ ongoing projects worth ₹45,299.61 Lakhs (April 2025) ensuring growth visibility and diversification
Risk factors
- Legal Risks: ongoing cases against company, promoter, and directors may affect operations and financial stability
- Cash Flow Concerns: past negative cash flows create uncertainty over profitability and future losses
- High Working Capital Requirement: heavy dependence on capital, insufficient cash or funding may strain operations and repayments
Promoters
Goutam Debnath
Registrar & documents
Lead manager
Smc Capital Limited
Registrar & contacts
Mas Services Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
House No. 451568, Milan Chakra, (Near Prajapita Brahmakumari Center) Badharghat, P.O. A.D. Nagar Agartala, Tripura, 799003
+91 7085049473
[email protected]Company website ↗Understanding OVAL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.