Valplast Technologies IPO is a book-built issue worth ₹28.09 crore. The IPO consists entirely of a fresh issue of 0.52 crore shares, giving the company an opportunity to raise funds directly from the market. The subscription for this IPO will open on September 30, 2025, and close on October 3, 2025.
The basis of allotment is expected to be finalised on October 6, 2025, and the shares are proposed to be listed on the BSE SME platform with a tentative listing date set for October 8, 2025.
The price band for the IPO has been fixed between ₹51 to ₹54 per share. Investors applying in the retail category need to bid for a minimum of 2 lots, which equals 4,000 shares, requiring an investment of ₹2,16,000 at the upper price band.
For HNI investors, the minimum bid size is 3 lots, or 6,000 shares, amounting to ₹3,24,000. Fintellectual Corporate Advisors Pvt. Ltd. is the book running lead manager, Bigshare Services Pvt. Ltd. is the registrar to the issue, and Nikunj Stock Brokers Ltd. is the market maker.
Valplast Technologies IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to use part of the proceeds to purchase new plant and machinery to support capital expenditure needs.
- Funds will also be utilised to meet working capital requirements and ensure smooth day-to-day operations.
- A portion of the proceeds will be allocated towards general corporate purposes.
About Valplast Technologies Limited
Valplast Technologies Limited, originally incorporated in 2014 as Renesco India Private Limited, is a civil engineering and construction company with a strong focus on specialised infrastructure solutions. Over the years, the company underwent several name and status changes, becoming Valplast Technologies Limited in August 2023 after its conversion into a public limited company.
With operations spread across nine states, the company has successfully executed more than 40 projects across sectors such as defence, railways, and road infrastructure. The company’s core expertise lies in providing structural waterproofing systems, injection grouting, tunnel construction, and slope stabilisation services.
It also undertakes fabrication and installation of precast concrete elements, as well as mechanical, electrical, and plumbing (MEP) services. These offerings cater to a diverse range of infrastructure needs, including underground structures, reservoirs, dams, canals, and civil buildings. The addition of tunnel construction and precast concrete structures has further expanded its capabilities in complex engineering projects.
Valplast Technologies Limited has steadily grown by taking on both subcontracted projects through main contractors and direct contracts for private companies and government bodies. Its ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications highlight its commitment to quality management, environmental safety, and occupational health standards.
The company is led by promoters Sanjay Kumar, Rajeev Tyagi, and Madhunita, who bring extensive industry experience and strong client relationships. Their leadership has helped the company build a reputation for timely project execution and client-centric service delivery, positioning it as a trusted partner in the construction and engineering sector.
Industry Outlook
- India’s construction market was valued at USD 1.04 trillion in 2024 and is expected to grow to USD 2.13 trillion by 2030 at a CAGR of 12.1%, supported by initiatives like the National Infrastructure Pipeline and Gati Shakti.
- The country has the world’s largest road network at 6.62 million km, with 826 PPP road projects out of 1,825 total projects as of February 2025, highlighting strong private sector participation.
- In FY25, NHAI achieved record spending of ₹2,50,000 crore (USD 29.26 billion) and constructed 5,614 km of highways, surpassing its target of 5,150 km. Flagship programmes such as the National Infrastructure Pipeline, PM Gati Shakti, Smart Cities, and metro rail expansions continue to boost yearly investments in infrastructure.
How To Apply for the Valplast Technologies 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 Valplast Technologies 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 Valplast Technologies 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 Valplast Technologies Limited
Registered office: 1025 BH, 10th Floor, Puri Business HUB-81 High Street Sector 81, Faridabad, Haryana, India, 121004
Phone: 0120- 4889900
E-mail:cs@valplastindia.com
Valplast Technologies IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
2,80,000 (5.38%) |
|
QIB Shares |
24,54,000 |
|
NII (HNI) Shares |
7,44,000 (14.30%) |
|
Retail Shares |
17,24,000 (33.14%) |
|
Total Shares |
52,02,000 (100.00%) |
Valplast Technologies IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
4,000 |
₹2,16,000 |
|
Individual investors (Retail) (Max) |
2 |
4,000 |
₹2,16,000 |
|
S-HNI (Min) |
3 |
6,000 |
₹3,24,000 |
|
S-HNI (Max) |
9 |
18,000 |
₹9,72,000 |
|
B-HNI (Min) |
10 |
20,000 |
₹10,80,000 |
Valplast Technologies IPO Promoter Holding
The promoters of the company are Mr. Sanjay Kumar, Mr. Rajeev Tyagi, and Mrs. Madhunita
|
Share Holding Pre-Issue |
86.65% |
|
Share Holding Post Issue  |
63.68% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Valplast Technologies IPO
|
KPI |
Value |
|
ROE (%) |
22.41 |
|
RoCE (%) |
18.82 |
|
Debt/Equity  |
0.74 |
|
RoNW (%) |
20.15 |
|
PAT Margin (%) |
9.67 |
|
EBITDA Margin (%) |
20.10 |
Valplast Technologies IPO Prospectus
Valplast Technologies IPO Registrar and Lead Managers
Valplast Technologies IPO Lead Managers
- Fintellectual Corporate Advisors Private Limited
Registrar for Valplast Technologies IPO
Bigshare Services Private Limited
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Valplast Technologies IPO Registrar: https://ipo.bigshareonline.com/IPO_Status.html
Financial Performance of Valplast Technologies Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 6324.54 | 6494.14 |
| Profit/loss After Tax (in ₹ lakh) | 611.35 | 650.94 |
| Earnings per Share | 4.24 | 4.76 |
| Net Worth (in ₹ lakh) | 3033.12 | 2421.94 |
| Current Ratio (x) | 1.58 | 1.66 |
| Return on Capital Employed (RoCE) (%) | 18.82 | 31.24 |
| EBITDA (in ₹ lakh) | 1,271.47 | 998.03 |
Know before investing
Strengths
8Strong promoter leadership with 16 and 11 years of industry experience.
Skilled workforce and trained employees ensure efficient project execution and delivery.
Diversified presence across 9 states helps reduce geographical concentration risks.
Over 40 projects completed across defence, railways, and infrastructure sectors.
Expanding focus on tunnel construction supported by new technology and machinery.
Reliable supplier relationships ensure timely access to quality materials and equipment.
Client-centric approach enables long-term partnerships and repeat business opportunities.
Geographic expansion strategy strengthens revenue base and widens growth opportunities pan-India.
Risks
8Promoters and directors face ongoing legal proceedings affecting business operations.
Claims worth 114% of revenue may not be realisable due to litigations.
Contingent liabilities could negatively impact financial condition and business performance.
Heavy dependence on few clients increases risk of revenue concentration.
Major revenue sourced from top five states could impact profitability if lost.
Over-reliance on waterproofing, tunnel, and MEP services poses business risk.
No long-term supply agreements exposes the company to raw material shortages.
Past non-compliances under Companies Act, GST, and Income Tax may attract penalties.
Valplast Technologies Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Valplast Technologies Limited | 4.24 | 21.03 | - | 20.16 |
| SRM Contractors Limited | 21.86 | 120.09 | 20.60 | 19.96 |
