IPO Details
Bidding Dates
28 Aug '25 - 01 Sep '25
Minimum Investment
₹2,72,000/ 2 Lot (3,200 Shares)
Price Range
₹80-₹85
Maximum Investment
₹2,72,000/ 2 Lot (3,200 Shares)
Retail Discount
To be announced
Issue Size
₹46.74 Cr
Investor category and sub category
Retail Individual Investors (RII), | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Oval Projects Engineering IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 28, 25
IPO Closing Date
Sep 01, 25
Basis of Allotment
Sep 02, 25
Initiation of Refunds
Sep 03, 25
IPO Listing Date
Sep 04, 25
Oval Projects Engineering IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
|
Day 1Aug 27, 2025 |
0.00 | 0.01 | 0.02 | 0.02 |
About Oval Projects Engineering IPO
Oval Projects Engineering IPO is a book-built issue worth ₹₹46.74 crore. The issue is entirely a fresh issue of 0.55 crore shares, raising the full amount through equity. The IPO will open for subscription on August 28, 2025, and close on September 1, 2025.
The basis of allotment is expected to be finalised on September 2, 2025, with tentative listing scheduled on BSE and NSE for September 4, 2025. The price band for the Oval Projects Engineering IPO has been fixed between ₹80.00 and ₹85.00 per share.
Investors can bid for Oval Projects Engineering IPO with a minimum 2 lots of 3,200 shares, having 1,600 shares in each lot. For retail investors, the minimum investment required is ₹2,72,000. For small non-institutional investors (sNII), the lot size stands at 3 lots, equal to 4,800 shares, amounting to ₹4,08,000. For big non-institutional investors (bNII), the lot size is 8 lots, which translates to 12,800 shares, requiring an investment of ₹10,88,000.
SMC Capitals Ltd. is the book running lead manager (BRLM) for the issue, while MAS Services Ltd. is the registrar. Detailed information is available in the Oval Projects Engineering IPO RHP.
Industry Outlook
- India is the world’s third-largest consumer of oil and gas, with over 85% of crude oil and about 50% of natural gas needs met through imports. The country holds proven reserves of ~4.5 billion barrels of oil and 1.3 trillion cubic meters of natural gas.
- India ranks 4th globally in refining capacity, serving as a regional refining hub and net exporter of petroleum products. The government is actively driving policies such as the Open Acreage Licensing Policy (OALP) and investing in pipelines, LNG terminals, and city gas distribution to boost energy infrastructure.
- Global oil demand is projected to rise steadily by 1.3 mb/d annually in both 2025 and 2026, with OECD nations contributing marginally (0.1 mb/d each year) and non-OECD countries driving the bulk of growth (1.2 mb/d annually).
- Emerging markets, particularly Asia, are expected to see moderating growth, with EMDEs projected at 3.7% in 2025 and 3.9% in 2026. India, however, stands out with a stable growth forecast of 6.2% in 2025, supported by resilient private consumption.
Oval Projects Engineering IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Towards the long-term working capital requirements of the company.
- General Corporate Purposes.
About Oval Projects Engineering Limited
Incorporated in 2013, Oval Projects Engineering Ltd. (OPEL) is a leading infrastructure services company having expertise in Engineering, Procurement, and Construction (EPC) and Operations & Maintenance (O&M) services, with a strong focus on the Oil & Gas sector throughout India.
Headquartered in Agartala, Tripura, OPEL commenced its business journey as a project management consultancy and has, over the past decade, steadily evolved into a diversified infrastructure services provider.
The company offers end-to-end solutions for upstream, midstream, and downstream infrastructure development in the Oil & Gas industry. This includes the construction of processing plants, pipeline laying, horizontal directional drilling, terminal stations, and City Gas Distribution (CGD) networks. Additionally, OPEL delivers comprehensive O&M services for PNG/CGD networks and captive power plants.
Apart from its core expertise in Oil & Gas, OPEL has diversified into civil infrastructure, actively participating in urban development projects, including Smart Cities initiatives. Several of its ongoing and completed projects are funded by international financial institutions, reflecting its credibility and competence on a global scale.
OPEL has built a robust portfolio of over 30 successfully completed projects, valued at approximately ₹203.63 crore, across both the Oil & Gas and special infrastructure sectors. The company serves a diverse clientele comprising major public sector undertakings (PSUs), central and state government bodies, and internationally funded organisations.
How To Apply for the Oval Projects Engineering 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 Oval Projects Engineering 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.
How To Check the Allotment Status of Oval Projects Engineering 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.
Contact Details of Oval Projects Engineering IPO
House No. 451568, Milan Chakra, (Near Prajapita Brahmakumari Centre), Badharghat, P.O. A.D. Nagar, Agartala, West Tripura, Tripura- 799003, India
Phone: +91 70850 49473
E-mail: cs@ovalprojects.com
Oval Projects Engineering IPO Reservation
|
Investor Category |
Shares Offered |
% of Total |
|
Market Maker Shares |
3,04,000 |
5.53 |
|
QIB Shares |
15,60,000 |
28.37 |
|
NII (HNI) Shares |
14,40,000 |
26.19 |
|
Retail Shares |
21,95,200 |
39.92 |
|
Total Shares |
54,99,200 |
100.00 |
Oval Projects Engineering IPO Lot Size Details
|
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 IPO Promoter Holding
The promoter of the company is Goutam Debnath
|
Share Holding Pre-Issue |
72.19% |
|
Share Holding Post Issue  |
- |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Oval Projects Engineering IPO
|
KPI |
Value |
|
ROE (%) |
20.85 |
|
RoCE (%) |
21.32 |
|
Gross Margin  |
29.78 |
|
PAT Margin (%) |
9.12 |
|
EBITDA Margin (%) |
17.68 |
Oval Projects Engineering IPO Prospectus
Oval Projects Engineering IPO Registrar and Lead Managers
Oval Projects Engineering IPO Lead Managers
- SMC Capitals Ltd
Registrar for Oval Projects Engineering IPO
MAS Services Ltd
- Contact Number: +91 112 638 7281/83, 4132 0335
- Email Address: ipo@masserv.com
Oval Projects Engineering IPO Registrar - https://www.masserv.com/opt.asp
Financial Performance of Oval Projects Engineering Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 10,228.99 | 7,796.54 | 5,902.14 |
| Profit/loss After Tax (in ₹ lakh) | 933.25 | 440.11 | 318.50 |
| EBITDA (in ₹ lakh) | 1,807.98 | 989.09 | 346.00 |
| EBITDA Margin (%) | 17.68 | 12.69 | 5.86 |
| Net Worth (in ₹ lakh) | 5,587.64 | 3,366.53 | 1,774.93 |
| Return on Equity (%) | 20.85 | 17.12 | 19.71 |
| Return on Capital Employed (RoCE) (%) | 21.32 | 17.75 | 19.71 |
Know before investing
Strengths
8-
Oval Projects holds a strong project execution capability with proven expertise in complex oil & gas and infrastructure projects.
-
The company has end-to-end in-house capabilities (design, engineering, procurement, construction) to ensure cost efficiency
-
Robust order book of ₹45,299.61 Lakhs across 30+ ongoing projects ensuring revenue visibility
-
Strong vendor network and supply chain enabling timely execution and economies of scale
-
Focus on optimal resource utilization through modernization, skill upgradation, and process efficiency.
-
Growing reputation through prestigious and high-margin projects adding brand value.
-
Opportunity to expand in oil & gas and specialised infrastructure projects leveraging domain expertise.
-
Diversification strategy across sectors and industries to mitigate risks and tap new growth avenues.
Risks
8-
Ongoing legal proceedings against the Company, Promoter and Directors may impact operations and reputation.
-
History of negative cash flows raises concerns over sustained profitability and future financial stability.
-
High working capital requirements and loan obligations could strain liquidity and growth.
-
Heavy dependence on government entities exposes business to policy changes, tender delays or cancellations.
-
Reliance on a few suppliers without long-term contracts increases risk of material shortages or price volatility.
-
Failure to obtain or renew statutory licenses and approvals may disrupt business operations.
-
Revenue concentration from a few key customers poses risk if contracts are not renewed or delayed.
-
Heavy reliance on oil & gas sector makes business vulnerable to sectoral, political, and economic changes.
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Oval Projects Engineering Limited Peer Comparison
| Company | CMP (₹) | EPS | P/E Ratio | RONW (%) |
|---|---|---|---|---|
| Oval Projects Engineering Limited | [●] | 6.65 | [●] | 20.85 |
| Likhitha Infrastructure Limited | 269.55 | 17.57 | 15.34 | 18.52 |
| Konstelec Engineers Limited | 60.90 | 3.14 | 19.39 | 4.93 |
Oval Projects Engineering IPO FAQs
Oval Projects Engineering IPO is a book-built issue IPO. It runs from August 28, 2025, to September 1, 2025.
The Basis of Allotment will happen on Monday, September 2, 2025.
The IPO subscription window will open on August 28, 2025.
The minimum lot size retail investors can subscribe to is 2 lot, and the lot size is 3,200 shares.
The listing date for Oval Projects Engineering IPO is Wednesday, September 4, 2025.
The issue size of the Oval Projects Engineering IPO is ₹46.74 crore.
The open and close dates for Oval Projects Engineering IPO are from August 28, 2025, to September 1, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Oval Projects Engineering Limited’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Oval Projects Engineering IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
