Oval Projects Engineering came to market through an SME IPO that opened on 28 August 2025 and closed on 1 September 2025, and the shares listed on 4 September 2025 on BSE SME. The price band was ₹80 to ₹85 per share and one lot was 1600 shares, so the minimum application was ₹1,36,000. The issue size was ₹46.74 crore. The whole issue was fresh shares, so the money raised went to the company.
MAS Services Limited was the registrar to the issue, and SMC Capitals Limited was the lead manager.
As of 1 September 2025.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Founded in 2013, Oval Projects Engineering Limited is an infrastructure development firm with expertise in the Oil & Gas, City Gas Distribution, Urban Development, and Energy verticals in India.It is a specialist in upstream, midstream, and downstream operations in the Oil and Gas industry, such as pipeline laying, processing plants, CGS jobs, and O&M services for power plants and EPC jobs.
The firm provides turnkey solutions across upstream, midstream, and downstream segments, with extensive coverage in areas such as Agartala, Tripura, and several other locations across the country.The firm has successfully completed more than 900 km of pipeline installations and continues to work on diverse projects in the Oil &; Gas and Power sectors. Business Segment: Oil & Gas Infrastructure:
Oil & Gas Infrastructure vertical of the company specializes in the development and implementation of gas processing plants, oil/petrochemical terminals for storage, pipeline laying, and building distribution infrastructure. Oil and Gas Operation and Maintenance: The company offers O&M solutions to CGD firms and government sector companies, such as pipeline rehabilitation, maintenance, planned shutdowns, and operation and management of gas genset power plants and CNG stations. Special Infrastructure projects:
The firm acquired civil infrastructure expertise in oil and gas plant projects, undertaking specialized works. It now undertakes technical infrastructure projects that are government-funded, World Bank-funded, and ADB-funded. As of March 31, 2025, the company employed 123 on-roll staff.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Goutam Debnath. Promoter holding 72.19% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Oval Projects Engineering IPO was a ₹46.74 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹80–₹85 per share with a lot size of 1,600 shares; the minimum retail application was 3,200 shares (₹2,72,000). The IPO was open from August 28 to September 1, 2025 and was subscribed 0.94x. Shares listed on BSE SME on September 4, 2025 at ₹85.25, in line with the issue price of ₹85. MAS Services Limited is the registrar.
SMC Capitals Limited is the book running lead manager.
The price band of Oval Projects Engineering IPO is ₹80 to ₹85 per share.
The lot size of Oval Projects Engineering IPO is 1600 shares.
The minimum investment for Oval Projects Engineering IPO is approximately ₹2,72,000 based on the upper price band.
The allotment date of Oval Projects Engineering IPO is Sep 2, 2025.
You can check Oval Projects Engineering IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Oval Projects Engineering IPO allotment status on Rupix for quick and easy access.
₹80 to ₹85 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,36,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,36,000, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 28 August 2025 and closed on 1 September 2025.
The basis of allotment was published on 2 September 2025 by MAS Services Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 4 September 2025 on BSE SME.
The issue size was ₹46.74 crore. The fresh issue was 54,99,200 shares (aggregating up to ₹46.74 crore).