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

1. 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.
2. 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.
3. 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).
4. 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:

1. Towards the long-term working capital requirements of the company.
2. 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?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Oval Projects Engineering IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. 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:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. 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

Oval Projects Engineering IPO Lot Size Details

Oval Projects Engineering IPO Promoter Holding

The promoter of the company is Goutam Debnath

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

Oval Projects Engineering IPO Prospectus

• Oval Projects Engineering IPODRHP
• Oval Projects Engineering IPORHP

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

Know before investing

Strengths

1. Oval Projects holds a strong project execution capability with proven expertise in complex oil & gas and infrastructure projects.

2. The company has end-to-end in-house capabilities (design, engineering, procurement, construction) to ensure cost efficiency

3. Robust order book of ₹45,299.61 Lakhs across 30+ ongoing projects ensuring revenue visibility

4. Strong vendor network and supply chain enabling timely execution and economies of scale

5. Focus on optimal resource utilization through modernization, skill upgradation, and process efficiency.

6. Growing reputation through prestigious and high-margin projects adding brand value.

7. Opportunity to expand in oil & gas and specialised infrastructure projects leveraging domain expertise.

8. Diversification strategy across sectors and industries to mitigate risks and tap new growth avenues.

Risks

1. Ongoing legal proceedings against the Company, Promoter and Directors may impact operations and reputation.

2. History of negative cash flows raises concerns over sustained profitability and future financial stability.

3. High working capital requirements and loan obligations could strain liquidity and growth.

4. Heavy dependence on government entities exposes business to policy changes, tender delays or cancellations.

5. Reliance on a few suppliers without long-term contracts increases risk of material shortages or price volatility.

6. Failure to obtain or renew statutory licenses and approvals may disrupt business operations.

7. Revenue concentration from a few key customers poses risk if contracts are not renewed or delayed.

8. Heavy reliance on oil & gas sector makes business vulnerable to sectoral, political, and economic changes.

Oval Projects Engineering Limited Peer Comparison