Oval Projects Engineering Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹85
Per ShareLot Size
1600 Shares
Minimum Investment
₹1,36,000
Issue Size
₹46.74 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
42.25%
QIB Quota
30.03%
NII Quota
27.72%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Oval Projects Engineering Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
72.19%
Promoter Holding (Post-Issue)
53.07%
Issue Type
Book Building - SME
ISIN
INE0RTI01017
About the Company
We are primarily an infrastructure services company engaged in the business of providing engineering, procurement and construction ("EPC") industrial infrastructure services and operations and maintenance ("O&M") services to our PAN India customers especially in the Oil & Gas sector. Headquartered at Agartala-Tripura, we commenced our business operations as a project management consultancy company. Over the last decade, we have expanded and diversified our business services to EPC, O&M and other infrastructure services and constantly improved our business processes.
Industry Overview
Global oil demand in 2025 is expected to grow by 1.3 mb/d, y-o-y, unchanged from last month's assessment. Some minor adjustments were made in 1Q25, mainly due to the receipt of actual data. In the OECD, oil demand is expected to expand by about 0.1 mb/d, while non-OECD demand is forecast to increase by about 1.2 mb/d in 2025. In 2026, world oil demand is projected to rise by 1.3 mb/d, y-o-y, also unchanged from last month's assessment. The OECD is anticipated to grow by around 0.1 mb/d, y-o-y, in 2026, while demand in the non-OECD is expected to increase by about 1.2 mb/d, y-o-y. India holds a significant position in the global oil and gas industry due to its large and growing energy market. The EPC market for oil and gas in India has witnessed a growth rate of 10% CAGR over the past five years, driven by a) India's pipeline network has expanded significantly, with projects such as the Jagdishpur-Haldia-Bokaro-Dhamra Pipeline (JHBDPL) and North East Gas Grid gaining traction. b) The government's ambitious target of establishing CGD networks in over 400 districts has catalyzed demand for EPC services. C) Major refinery upgrades and capacity additions, including the Ratnagiri Refinery and Petrochemicals project, have bolstered EPC opportunities.
Company History
The Company was originally incorporated as `Oval Projects Engineering Private Limited' as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 7, 2013 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, the Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the Company at the extraordinary general meeting held on August 14, 2024 and the name of the Company was changed to `Oval Projects Engineering Limited' and a fresh certificate of incorporation, consequent upon conversion to a public limited company dated September 20, 2024, was issued to the Company by the Registrar of Companies, Central Processing Centre.
Products & Services
- The Company is primarily an infrastructure services company engaged in the business of providing engineering, procurement and construction ("EPC") industrial infrastructure services and operations and maintenance ("O&M") services.
Growth Strategy
- Deepen its client engagement and increase incremental revenue opportunities from its clients.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of up to 54,99,200 equity shares of face value of Rs. 10/- each ("Equity Shares") of Oval Projects Engineering Limited ("the Company" or the "Issuer") for cash, at a price of Rs. 85 per equity share (including a share premium of Rs. 75 per equity share) ("Issue Price") aggregating upto Rs. 46.74 crores ("Issue") out of which 3,04,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 85 per equity share for cash, aggregating Rs. 2.58 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. issue of 51,95,200 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 85 per equity share for cash, aggregating upto Rs. 44.16 crores is herein after referred to as the "Net Issue". The issue and net issue will constitute [*]% and [*]%, respectively of the post-issue paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Strong Project execution capabilities.
- Experienced Promoter and Management Team.
- Optimal Utilization of Resources.
- Visible growth through a robust order book.
- Continue to enhance our project execution capabilities.
- There are outstanding legal proceedings involving the Company, Promoter and Directors. Any adverse decision in such proceedings may adversely affect its business, financial condition and results of operations.
- The Company has experienced negative cash flows in the past. Its cannot assure you that the company will achieve or sustain profitability and not continue to incur losses going forward.
- The company business typically requires significant amounts of working capital and historically, its business growth has been dependent on high working capital requirements. If the experience insufficient cash flows or are unable to access suitable financing to meet working capital requirements and loan repayment obligations, The business, financial condition and results of operations could be adversely affected.
- Its substantial portion of the revenue is dependent on government controlled entities including central and state government entities. However, delays or a lack of tenders from government entities, along with adverse changes in government policies, could materially impact its business through contract foreclosures, terminations, restructurings, or renegotiations, affecting the company operations and financial performance.
- The company has Order Book of approximately Rs. 45,299.61 lakhs as on April 09, 2025. However, the company Order Book may not be representative of the company future results, as projects included in its Order Book particularly for the projects where its the lowest bidder, may be cancelled, modified, or delayed beyond the company control, leading to significant deviations from estimated income and adversely affecting its business, reputation, financial condition, and future prospects.