Ravita Engineering Services Limited is an engineering solutions company engaged in Engineering, Procurement, Installation and Commissioning (EPIC) of HVAC systems, central air-conditioning solutions, chiller plants, industrial compressors, cooling equipment and other electro-mechanical systems. Incorporated in December 2007, the company also provides Operations and Maintenance (O&M) services for its own projects and systems installed by third parties.
The company operates across three segments: Onshore, Offshore and Data Center. Its Onshore operations serve commercial, hospitality and industrial establishments, while Offshore operations cover oil and gas rigs, platforms and marine installations. During FY2024–FY2026 and the three months ended June 30, 2026, the company undertook operations across 6 offshore rigs and 16 associated oil and gas platforms.
The Data Center segment provides maintenance services for cooling systems, chiller plants and HVAC equipment. The company serves Reliance Corporate IT Park Limited and has secured ₹120 crore worth of data centre infrastructure orders in Maharashtra. It is also executing a specialised subsea pipeline project for Numaligarh Refinery Limited in Odisha.
As of June 30, 2026, the company’s order book stood at ₹491.12 crore. and as of June 30, 2026, the company had a workforce of over 399 employees supporting its engineering, maintenance and project execution activities.
Ravita Engineering Services IPO – Details
| IPO Opening Date | 13 October 2026 |
| IPO Closing Date | 15 October 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 1,03,62,000 Shares Worth ₹116.05 Crore Fresh Issue: 1,03,62,000 Shares Worth ₹116.05 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹105 – ₹112 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Ravita Engineering Services IPO – Date Schedule
| IPO Open Date | 13 October 2026 |
| IPO Close Date | 15 October 2026 |
| Basis of Allotment | 16 October 2026 |
| Initiation of Refund | 19 October 2026 |
| Credit of Shares to Demat | 19 October 2026 |
| IPO Listing Date | 21 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 15, 2026 |
Ravita Engineering Services IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,68,800 |
| Retail (Max) | 2 | 2400 | ₹2,68,800 |
| S-HNI (Min) | 3 | 3600 | ₹4,03,200 |
| S-HNI (Max) | 7 | 8400 | ₹9,40,800 |
| B-HNI (Min) | 8 | 9600 | ₹10,75,200 |
Competitive Strength
- Multi-site project execution capabilities.
- Balanced EPIC and O&M business model.
- Large and qualified engineering workforce.
- Strong management and domain expertise.
- Long-standing relationships with large clients.
- Comprehensive electro-mechanical engineering capabilities.
- Specialised experience in offshore and data center operations.
Company Promoters
- Vibhoar Agrawal
- Rachita Agrawal
- Starwings Realtors Pvt. Ltd.
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹13.53 Cr | ₹11.44 Cr | ₹1.51 Cr | ₹3.52 Cr |
| 31 March 2025 | ₹109.30 Cr | ₹93.49 Cr | ₹11.83 Cr | ₹23.11 Cr |
| 31 March 2026 | ₹277.82 Cr | ₹240.35 Cr | ₹28.04 Cr | ₹19.21 Cr |
| 30 June 2026 | ₹97.45 Cr | ₹83.92 Cr | ₹10.13 Cr | ₹30.88 Cr |
Key Performance Indicator
| KPI | Values (June 30, 2026) |
|---|---|
| ROE | 9.68% |
| ROCE | 10.60% |
| Debt/Equity | 0.28 |
| RoNW | 9.68% |
| PAT Margin | 10.40% |
| EBITDA Margin | 14.42% |
| NAV | 40.15 |
| Price to Book Value | 2.79 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.26 | 10.75 |
| P/E (x) | 10.92 | 10.42 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| To meet long-term working capital requirements of the Company. | ₹70.00 |
| Funding capital expenditure requirements of the Company towards purchase of certain heavy equipment. | ₹25.53 |
| General Corporate Purposes. |
✅Strengths
- Diversified Operations across Onshore, Offshore and Data Centre segments.
- Strong Order Book across EPIC, O&M and Hybrid projects.
- Data Centre Expansion with ₹120 crore in new work orders.
- Revenue Growth from ₹13.49 crore in FY24 to ₹277.63 crore in FY26.
- Experienced Execution across offshore oil and gas platforms.
⚠️Risks
- Project Execution Risk due to complex engineering contracts.
- Working Capital Pressure from project-related expenses and payment cycles.
- High Competition in the HVAC and engineering services industry.
- Manpower Dependence on skilled technical employees.
- Order Book Risk from delays or failure to secure new contracts.
Ravita Engineering Services IPO Promoter Holding
| Pre-Issue Share Holding | 73.74% |
| Post Issue Share Holding | 53.46% |
Ravita Engineering Services IPO Prospectus
Company Contact Information
| Ravita Engineering Services Limited Office No. 202 2nd Floor, Mayuresh Square, Plot No. 17, Sector 15 CBD Belapur, Thane, Maharashtra, 400614 Phone: +91-9136446482 Email: cs@ravita.co.in Website: https://ravita.co.in/ |
Ravita Engineering Services IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: ravitaengineering.smeipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Ravita Engineering Services IPO Lead Manager(s)
| 1. Vivro Financial Services Pvt. Ltd. |
Ravita Engineering Services IPO FAQ
| What is the Ravita Engineering Services IPO? Ravita Engineering Services IPO is an SME IPO. The issue is priced at ₹105 – ₹112 per equity share. The IPO is to be listed on NSE SME. |
| When will Ravita Engineering Services IPO open? The IPO is to open on 13 October 2026 for QIB, NII and Retail Investors. |
| What is Ravita Engineering Services IPO Investors’ Portion? The Investors portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Ravita Engineering Services IPO Size? Ravita Engineering Services IPO size is ₹116.05 Crore. |
| What are the Ravita Engineering Services IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,68,800, while the maximum bid is 2400 Shares for ₹2,68,800. |
| What is the Ravita Engineering Services IPO Allotment Date? Ravita Engineering Services IPO allotment date is 16 October 2026. |
| What is the Ravita Engineering Services IPO Listing Date? Ravita Engineering Services IPO listing date is 21 October 2026. The IPO is to be listed on the NSE SME. |
