Bvishal Oil and Energy IPO
IPO Details
Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
To be announced
Investor category and sub category
Bvishal Oil and Energy IPO Important Dates
Important dates with respect to IPO allotment and listing
About Bvishal Oil and Energy
Established in 2017, Bvishal Oil and Energy Limited provides onshore oilfield services for the exploration, production, and maintenance of oil and gas wells. The company mainly serves upstream and midstream operations.
Its key services include well intervention and stimulation, surface production testing, gas processing, operations and maintenance (O&M), production enhancement services (PES), and enhanced oil recovery (EOR). These services include coiled tubing, workover, nitrogen pumping, acidizing, polymer flooding, multi-phase separation, gas conditioning, and production optimisation at oilfields.
As of February 28, 2026, the company and its subsidiaries had completed 86 projects and had an ongoing order book worth ₹66,085.12 lakh. Its operations are spread across Gujarat, Assam, Rajasthan, Andhra Pradesh, and Odisha.
The company operates a range of specialised oilfield equipment, including 7 coiled tubing units, 2 workover rigs, 6 nitrogen pumping units, 5 acid pumping units, 4 hot oil circulation units, 1 mobile testing unit, 11 surface production facility packages, and 5 gas distribution unit (GDU/DPD) systems.
As of February 28, 2026, Bvishal Oil and Energy Limited had 964 employees.
Industry Outlook
The company operates in the upstream oil and gas sector.
- India’s growing economy and energy needs are expected to support continued demand for oil and gas.
- India remains heavily dependent on crude oil imports, creating a need to increase domestic exploration and production.
- Policies such as HELP and OALP are encouraging exploration and improving access to prospective hydrocarbon blocks.
- Increasing exploration across onshore, offshore, deepwater, and ultra-deepwater areas is expected to create opportunities for drilling and oilfield service companies.
- Government initiatives focused on offshore exploration are expected to support investments in new fields and production capacity.
- Investments in enhanced oil recovery, drilling, well services, and production enhancement are likely to remain important, particularly for mature fields.
- Energy security, domestic production targets, and continued exploration activity are expected to support the long-term outlook for the upstream oil and gas sector.
Bvishal Oil and Energy IPO Objectives
- ₹120.90 crore will be used to acquire machinery and equipment to expand and strengthen the company’s operational capabilities.
- ₹45 crore will be used to meet the company’s working capital requirements.
- Part of the IPO proceeds will be used for general corporate purposes.
Financial Performance of Bvishal Oil and Energy
| Metric | FY2023 | FY2024 | FY2025 |
| EBITDA Margin | 32.49% | 33.56% | 32.64% |
| PAT Margin | 16.52% | 17.49% | 17.79% |
| ROCE | 16.52% | 17.99% | 13.28% |
| ROE | 21.84% | 20.40% | 14.50% |
| Return on Total Assets | 9.34% | 10.74% | 8.18% |
Bvishal Oil and Energy IPO Peer Comparison
| Metric | Bvishal Oil & Energy | Deep Industries | Aakash Exploration Services | Asian Energy Services | Hindustan Oil Exploration | Antelopus Selan Energy |
| EBITDA Margin (%) | 32.64% | 3.80% | 10.30% | 13.65% | 38.50% | 53.00% |
| ROE (%) | 13.24% | 5.52% | 3.10% | 12.45% | 11.80% | 14.75% |
| ROCE (%) | 13.28% | 9.35% | 2.43% | 1.52% | 3.97% | 4.87% |
| Debt-to-Equity (x) | 0.54x | 0.11x | 0.43x | 0.24x | 0.06x | 0.01x |
Strengths and Opportunities for Bvishal Oil and Energy
The company has established pre-qualification credentials that strengthen its position in competitive bidding and support its ability to secure tenders.
It has a strong pipeline of confirmed contracts, providing visibility over future revenue and supporting business growth.
The company provides a range of services covering different stages of the upstream segment of India’s oil and gas industry.
It has successfully completed projects across key oil and gas producing regions in India, reflecting its project execution capabilities.
The company is led by experienced promoters and a management team, supported by a dedicated project execution team.
Risks and Threats for Bvishal Oil and Energy
A majority of the company’s revenue comes from contracts awarded through competitive tenders. Failure to win new contracts or renew existing ones could reduce revenue and order-book visibility.
The company competes with both domestic and international oilfield service providers. Winning contracts often depends heavily on competitive pricing after meeting technical and pre-qualification requirements, which could put pressure on margins.
A significant portion of revenue and the order book comes from a limited number of customers, particularly Maharatna companies in the oil and gas sector. Losing a major customer or contract could have a substantial impact on revenue.
The company's business is significantly linked to projects awarded by government-owned oil and gas companies. Changes in government policies, tender conditions, procurement practices or qualification criteria could affect its ability to secure contracts.
The existing order book does not necessarily translate into revenue immediately or in full. Projects may be delayed, modified, cancelled or may not be fully paid for, affecting revenue visibility and cash flows.
A substantial portion of the company's revenue comes from a few states, particularly Gujarat and Assam. Adverse developments in these regions could therefore have a disproportionate impact on operations and financial performance.
The company's ability to win tenders can vary depending on competition, customer preferences, procurement policies, regulations, project delays and broader economic conditions. A lower success rate could result in an inadequate order book and under-utilisation of resources.
The company plans to spend ₹12,090 lakh on equipment, plant and machinery. However, it had not placed orders for the majority of the proposed equipment when the DRHP was prepared.
Delays in placing orders, vendor constraints and supply shortages could increase project timelines and costs. Equipment prices may also rise due to changes in import duties, foreign exchange movements and raw-material costs.
Competitive bidding may require the company to submit lower or highly competitive quotations to win contracts. This creates a risk that aggressive pricing could affect project margins, particularly if execution costs increase.
Bvishal Oil and Energy IPO Reservation
| Investor Category | Shares |
| QIB | Not less than 50% of the Issue |
| Retail | Not more than 35% of the Issue |
| NII | Not more than 15% of the Issue |
Bvishal Oil and Energy IPO Promoter Holding
Bharatkumar S Chaudhari, Vishalkumar Bharatbhai Chaudhary and Shivani Vishalkumar Chaudhary are the promoters of the company.
| Category | Pre IPO | Post IPO |
| Promoter and Promoter Group | 81.46% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Bvishal Oil and Energy IPO Registrar and Lead Managers
Bvishal Oil and Energy IPO Lead Managers
Unistone Capital Pvt.Ltd.
Registrar for Bvishal Oil and Energy IPO
Name: Bigshare Services Pvt.Ltd.
Phone: 8657578989
Email ID: ipo@bigshareonline.com
How To Check the Allotment Status of the Bvishal Oil and Energy IPO?
Steps to check IPO allotment status on Angel One’s app:
Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Bvishal Oil and Energy IPO Online?
Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the Bvishal Oil and Energy IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Bvishal Oil and Energy
Address: BSCC House, New Block No. 920, Plot No. 8, Opp. ONGC Colony, Highway Road, Palavasana, Mehsana, Gujarat, 384003
Phone: 07927470650
Email: compliance@vishaloel.com
- How to Apply in IPO
- How to Check IPO Allotment Status
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Bvishal Oil and Energy IPO FAQs
Where will the Bvishal Oil and Energy IPO be listed?
The shares of the company are proposed to be listed on the BSE and NSE.
What could be the listing gains for the Bvishal Oil and Energy IPO?
The listing gains for the Bvishal Oil and Energy IPO cannot be determined before the shares are listed on the stock exchange, as they depend on market conditions and investor demand.
How can I read the financial statements of Bvishal Oil and Energy IPO?
You can review the company's financial statements in the DRHP by downloading it here.
