Oval Projects Engineering Limited is an infrastructure development company engaged in providing integrated engineering, procurement, and construction (EPC) services across Oil & Gas, City Gas Distribution (CGD), Urban Development, and Energy sectors in India.
The company is actively involved in upstream, midstream, and downstream activities of the Oil & Gas sector, including gas gathering, processing, pipeline laying, and CGS (City Gas Station) development, along with providing operation and maintenance (O&M) services for power plants and gas-based infrastructure projects.
It offers turnkey solutions covering the complete value chain of Oil & Gas projects, supported by its execution capabilities in complex terrains and diverse geographies such as Agartala, Tripura, and other parts of India. Over the years, the company has successfully executed 900+ km of pipeline installations, strengthening its position as a reliable EPC contractor in this domain.
Business Segments:
- Oil & Gas Infrastructure: Specializes in designing and executing gas processing plants, storage terminals, and cross-country pipelines, along with distribution network development.
- Operation & Maintenance Services: Offers comprehensive O&M solutions for CGD companies and PSU entities, covering pipeline repairs, scheduled shutdowns, maintenance, and management of gas-based power plants and CNG stations.
- Specialized Infrastructure Projects: Leveraging expertise from Oil & Gas civil works, the company undertakes technical and social infrastructure projects, some funded by government bodies, World Bank, and ADB.
As of March 31, 2025, the company employed 123 on-roll employees, reflecting its growing organizational strength to manage large-scale EPC and O&M projects across India.
Oval Projects Engineering IPO – Details
| IPO Opening Date | 28 August 2025 |
| IPO Closing Date | 01 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 54,99,200 Shares Worth ₹46.74 Crore Fresh Issue: 54,99,200 Shares Worth ₹46.74 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹80 – ₹85 per share |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | MAS Services Ltd. |
| QIB Shares Offered | 30% |
| NII Shares Offered | 30% |
| Retail Shares Offered | 40% |
Oval Projects Engineering IPO – Date Schedule
| IPO Open Date | 28 August 2025 |
| IPO Close Date | 01 September 2025 |
| Basis of Allotment | 02 September 2025 |
| Initiation of Refund | 03 September 2025 |
| Credit of Shares to Demat | 03 September 2025 |
| IPO Listing Date | 04 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 01, 2025 |
Oval Projects Engineering IPO – Lots Size & Price
| 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 |
Competitive Strengths
- Strong Project execution capabilities.
- Experienced Promoter and Management Team.
- Optimal Utilization of Resources.
- Visible growth through a robust order book.
- Leveraging the market skills and relationships.
Company Promoters
- Goutam Debnath
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹64.09 Cr | ₹59.72 Cr | ₹3.19 Cr | ₹32.21 Cr |
| 31 March 2024 | ₹78.99 Cr | ₹72.05 Cr | ₹4.40 Cr | ₹32.41 Cr |
| 31 March 2025 | ₹103.44 Cr | ₹90.42 Cr | ₹9.33 Cr | ₹53.70 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 20.85% |
| ROCE | 21.32% |
| Debt/Equity | – |
| RoNW | 20.85% |
| PAT Margin | 9.12% |
| EBITDA Margin | 17.68% |
| Price to Book Value | 2.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.11 | 4.49 |
| P/E (x) | 13.91 | 18.92 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Utilization towards the long-term working capital requirements of our Company. | ₹37.03 |
| General Corporate Purposes. | – |
✅Strengths
- Experienced EPC player in Oil & Gas sector.
- Executed 900+ km of pipelines across India.
- Diversified portfolio in infrastructure & O&M services.
- Strong client base including government & PSUs.
⚠️Risks
- High dependence on Oil & Gas sector.
- Revenue concentration from few clients.
- Rising borrowings and working capital needs.
- Risk of project delays and execution challenges.
- Intense competition from larger EPC players.
Oval Projects Engineering IPO Promoter Holding
| Pre Issue Share Holding | 72.19% |
| Post Issue Share Holding | – |
Oval Projects Engineering IPO Prospectus
Company Contact Information
| Oval Projects Engineering Ltd. House No. 451568, Milan Chakra, (Near Prajapita Brahmakumari Center) Badharghat, P.O. A.D. Nagar Agartala, Tripura, 799003 Phone: +91 7085049473 Email: cs@ovalprojects.com Website: https://www.ovalprojects.com/ |
Oval Projects Engineering IPO Registrar
| MAS Services Ltd. Phone: (011) 2610 4142 Email: ipo@masserv.com Website: https://www.masserv.com/opt.asp |
Oval Projects Engineering IPO Lead Manager(s)
| 1. SMC Capitals Ltd. |
Oval Projects Engineering IPO FAQ
| What is Oval Projects Engineering IPO? Oval Projects Engineering IPO is an SME IPO. The issue is priced at ₹80 – ₹85 per equity share. The IPO is to be listed on BSE SME. |
| When Oval Projects Engineering IPO will open? The IPO is to open on 28 August 2025 for QIB, NII, and Retail Investors. |
| What is Oval Projects Engineering IPO Investors Portion? The investors’ portion for QIB – 30, NII – 30%, and Retail – 40%. |
| What is the Oval Projects Engineering IPO Size? Oval Projects Engineering IPO size is ₹46.74 Crore. |
| What is Oval Projects Engineering IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 3200 Shares with ₹2,72,000 amount, while the maximum bid is 3200 Shares with ₹2,72,000. |
| What is the Oval Projects Engineering IPO Allotment Date? Oval Projects Engineering IPO allotment date is 02 September 2025. |
| What is the Oval Projects Engineering IPO Listing Date? Oval Projects Engineering IPO listing date is 04 September 2025. The IPO is to be listed on the BSE SME. |
