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IPO Open

Tue, Oct 13, 2026

IPO Close

Thu, Oct 15, 2026

Price Band

₹105 to ₹112

Market Cap*

₹422.02 Cr * on Upper Price

IPO Details

IPO Date 13 to 15 Oct, 2026
Listing Date Wed, Oct 21, 2026T
Face Value ₹5 per share
Price Band ₹105 to ₹112
Lot Size 1,200 Shares
Sale Type Fresh capital only
Issue Type Bookbuilding IPO
Listing At NSE SME
Total Issue Size 1,03,62,000 shares
(agg. up to ₹116 Cr)
Reserved for Market Maker
5,22,000 shares
(agg. up to ₹6 Cr)

Pace Stock Broking Services Pvt.Ltd.

Fresh Issue
(Ex Market Maker)
98,40,000 shares
(agg. up to ₹110 Cr)
Net Offered to Public 98,40,000 shares
(agg. up to ₹110 Cr)
Share Holding Pre Issue 2,73,18,682 shares
Share Holding Post Issue 3,76,80,682 shares

    IPO Timetable (Tentative)

  • IPO Open
    Tue, Oct 13, 2026
  • Allotment
    Fri, Oct 16, 2026
  • Credit of Shares
    Mon, Oct 19, 2026
  • IPO Close
    Thu, Oct 15, 2026
  • Refund
    Mon, Oct 19, 2026
  • Listing
    Wed, Oct 21, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50 % of the Net Issue
Retail Not less than 35.00% of the Net Issue
NII Not less than 15.00% of the Net Issue

IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.

Application Lots Shares Amount
Individual investors (IND) (Min) 2 2400 ₹2,68,800
Individual investors (IND) (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

About Ravita Engineering Services Ltd.

Incorporated in December 2007, Ravita Engineering Services Limited is an engineering solutions company engaged in Engineering, Procurement, Installation and Commissioning (EPIC) of HVAC systems, central air-conditioning solutions, air flow systems, chiller plants, industrial compressors, cooling equipment and other electromechanical equipment on a turnkey basis. The Company also provides Operations and Maintenance (O&M) services for projects executed by it and systems installed by third-party solution providers.The Company operates across three areas: Onshore, Offshore and Data Center. Its Onshore operations cover commercial, hospitality, corporate and industrial establishments, while its Offshore operations include rigs, platforms and other offshore marine installations.

During the last three fiscal years and the three months ended June 30, 2026, the Company undertook operations at 6 rigs and 16 associated offshore oil and gas platforms. Its Data Center business provides O&M services for cooling systems, chiller plants, HVAC equipment and mechanical utilities, and it has also secured data center infrastructure work orders aggregating ₹12,000.00 lakhs in Maharashtra.

As of June 30, 2026, the Company had an order book across its Onshore, Offshore and Data Center operations, comprising EPIC, O&M and Hybrid projects. The Company is led by Vibhoar Agrawal, Chairman and Executive Director, and Sunildutt Narayan Goswami, Managing Director and Chief Executive Officer, supported by its Chief Operating Officer and engineering and execution teams.

The Company’s revenue from operations increased from ₹1,349.25 lakhs in Fiscal 2024 to ₹27,763.29 lakhs in Fiscal 2026, while EBITDA increased to ₹4,004.92 lakhs and profit after tax stood at ₹2,804.16 lakhs in Fiscal 2026.

As of June 30, 2026, the Company had 399 permanent employees, including 369 in site operations.

Competitive Strengths

  • 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 Financials (Restated)

Ravita Engineering Services Ltd.’s revenue increased by 154% and profit after tax (PAT) rose by 137% between the financial year ending with March 31, 2026 and March 31, 2025.   (Amount in ₹ Crore)

Period Ended 30 Jun 2026 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 207.34 162.97 58.24 9.08
Total Income 97.45 277.82 109.30 13.53
Profit After Tax 10.13 28.04 11.83 1.51
EBITDA 14.04 40.05 15.65 2.86
NET Worth 109.69 99.56 15.13 3.30
Reserves and Surplus 96.03 85.90 15.03 3.20
Total Borrowing 30.88 19.21 23.11 3.52

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IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 To meet long-term working capital requirements of the Company
    70.00
  • 2 Funding capital expenditure requirements of our Company towards purchase of certain heavy equipment
    25.53
  • 3 General Corporate Purposes
  • Total
    95.53

Key Performance Indicator (KPI)

KPI Jun 30, 2026 Mar 31, 2026
ROE 9.68% 48.90%
ROCE 10.60% 48.65%
Debt/Equity 0.28 0.19
RoNW 9.68% 48.90%
PAT Margin 10.40% 10.09%
EBITDA Margin 14.42% 14.43%
NAV 40.15 36.44
P/B (x) 2.79 3.07

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 10.26 10.75
P/E (x) 10.92 10.42
Market Cap at Offer Price ₹305.97 Cr. ₹422.02 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 73.74% 53.46%
Public 26.26% 46.54%
Total 100% 100%

Company Promoters: Vibhoar Agrawal, Rachita Agrawal and Starwings Realtors Pvt.Ltd..

Ravita Engineering Services IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

MUFG Intime India Pvt.Ltd.

  • 022-49186000
  • ravitaengineering.smeipo@in.mpms.mufg.com
  • Visit Website

IPO Lead Manager(s)

  1. Vivro Financial Services Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Ravita Engineering Services Ltd. Address
Office No. 202 2nd Floor
Mayuresh Square, Plot No. 17
Sector 15 CBD Belapur
Thane, Maharashtra, 400614

IPO FAQs

Ravita Engineering Services IPO is a SME IPO of 1,03,62,000 equity shares of the face value of ₹5 aggregating up to ₹116 Crores. The issue is priced at ₹105 to ₹112. The minimum order quantity is 1200.

The IPO opens on Tue, Oct 13, 2026, and closes on Thu, Oct 15, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Angel One customers can apply online in Ravita Engineering Services IPO using UPI as a payment gateway. Zerodha customers can apply in Ravita Engineering Services IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Ravita Engineering Services IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Ravita Engineering Services IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Ravita Engineering Services IPO opens on Tue, Oct 13, 2026 and closes on Thu, Oct 15, 2026.

Ravita Engineering Services IPO lot size is 1200, and the minimum amount required for application is ₹2,68,800, with 2 lots being the minimum application size.

You can apply in Ravita Engineering Services IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Ravita Engineering Services IPO will be done on Friday, October 16, 2026, and the allotted shares will be credited to your demat account by Mon, Oct 19, 2026. Check the Ravita Engineering Services IPO allotment status.

The Ravita Engineering Services IPO listing date is not yet announced. The tentative date of listing is Wed, Oct 21, 2026.

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