Oval Projects Engineering IPO to open on August 28
Oval Projects Engineering, based in Tripura, is opening its IPO for subscription from August 28 to September 1.
They're offering nearly 55 lakh new shares priced at ₹80-₹85 each, aiming to raise about ₹46.7 crore.
SMC Capitals is managing the issue.
Company's business and peers
Oval Projects Engineering handles engineering, procurement and construction (EPC), plus operation and maintenance (O&M) services across the oil and gas sector.
Their projects range from pipeline laying and processing plants to city gas distribution and captive power plants.
They compete with names like Likhitha Infrastructure and Konstelec Engineers.
IPO proceeds and financials
Most of the IPO funds will go toward long-term working capital needs (₹37 crore) and general corporate purposes.
Share allotment wraps up by September 2, with a planned BSE SME listing on September 4.
The company's FY25 net profit jumped 112% to ₹9.3 crore on revenues of ₹102 crore—up over 31% year-on-year.