Vans Electroengineerings Limited
Bookbuilding IPO · BSE
- Price band
- ₹112 - ₹118
- Lot size
- 1,200 shares
- Issue amount
- ₹33.98 cr
- Total subscription
- 628.78×
- Opens
- 29 Sept 2026
- Closes
- 1 Oct 2026
- Allotment
- 5 Oct 2026
- Listing
- 7 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 28,80,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,34,400
- Fresh issue
- ₹33.98 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,41,600
- Issue type
- Bookbuilding IPO
- Shares before issue
- 80,00,000
- Shares after issue
- 1,08,80,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,83,200 |
| sHNI | 3 | 3,600 | ₹4,24,800 |
| bHNI | 8 | 9,600 | ₹11,32,800 |
Share reservation
Subscription & GMP
Subscription by category
Reported 1 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 392 | 2,69,018 |
| HNIs(10L +) | 75 | 31,747 |
| HNIs (2-10L) | 37 | 25,807 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 6.34 | 1,786.67 |
| RETAIL | 11.1 | 7,618.59 |
| NIB | 4.76 | 4,895.66 |
| HNIs 2+ | 1.59 | 1,190.6 |
| HNIs 10+ | 3.17 | 3,720.51 |
| EMPLOYEES | 0.57 | 0.54 |
| HNIs | 4.76 | 4,911.11 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 6.74 | 3.59 | 0.05 |
| ROE | 0 | 0 | 0 |
| ROCE | 63.96 | 53.51 | 2.1 |
| RONW | 83.27 | 71.63 | 2.06 |
| PRE IPO(PE) | 17.51 | 0 | 0 |
| POST IPO(PE) | 23.79 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
VANS Electroengineerings Limited, incorporated in February 2022, is an ISO 9001:2015 certified company engaged in manufacturing and supplying traction power supply and overhead equipment system components for Indian railway electrification, metro projects and renewable energy infrastructure. The company primarily manufactures Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs), including single-pole and double-pole models, which are mainly supplied to Indian Railways and railway electrification contractors. Its manufacturing facility in Salem, Tamil Nadu, is supported by modern production equipment, in-house testing and quality control facilities. The company’s products are approved by the Research Designs and Standards Organization (RDSO) and are tested in line with international standards through institutions such as KERI, South Korea and CPRI, Bengaluru. With experienced promoters and a technically skilled management team, VANS Electroengineerings focuses on product quality, engineering capabilities and timely delivery. As of May 31, 2026, the company had 28 employees working across manufacturing, product development, quality control, finance, administration and procurement.
Strengths
- Specialized Railway Engineering Products: VANS Electroengineerings Limited manufactures vacuum circuit breakers, vacuum interrupters, and overhead equipment components used in railway electrification, metro systems, and related power infrastructure.
- RDSO-Approved Products: The company’s key products have RDSO approval, while its manufacturing facility includes in-house testing and quality-control capabilities, supporting its presence in a regulated railway supply chain.
- Growing Financial Performance: Revenue from operations increased from ₹13.56 crore in FY25 to ₹22.84 crore in FY26, while PAT rose from ₹1.73 crore to ₹5.39 crore, indicating significant recent business growth.
Risk factors
- Railway Sector Dependence: A significant part of the company’s business is linked to railway electrification and related infrastructure projects. Changes in railway spending, project schedules, tenders, or government policies could affect demand.
- Customer & Order Concentration: Dependence on railway authorities and approved railway contractors means delays, cancellations, or reductions in orders from key customers could impact revenue and cash flows.
- Intense Competition & Technology Risk: The company operates in a specialised electrical equipment market where competition, changing technical standards, and the need for continuous product development may require additional investment and affect margins.
Promoters
Balakrishnan Srinivasan
Viraj Bansal
Abhishek Saraff
Nitin Jain
Pooja Bansal
Hotspot Infodot Pvt. Ltd.
Registrar & documents
Lead manager
Hem Securities Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot 17 SIDCO Women's Industrial Estate Karuppur Salem, Tamil Nadu, 636011
9677114470
[email protected]Company website ↗Understanding VANS 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.