Oval Projects Engineering IPO
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Schedule of Oval Projects Engineering
| Issue open date | 28 Aug 2025 |
| Issue close date | 01 Sep 2025 |
| UPI mandate deadline | 01 Sep 2025 (5 PM) |
| Allotment finalization | 02 Sep 2025 |
| Refund initiation | 03 Sep 2025 |
| Share credit | 03 Sep 2025 |
| Listing date | 04 Sep 2025 |
| Mandate end date | 16 Sep 2025 |
| Lock-in end date for anchor investors (50%) | 02 Oct 2025 |
| Lock-in end date for anchor investors (remaining) | 01 Dec 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Oval Projects Engineering
Oval Projects Engineering is engaged in providing engineering, procurement, and construction (EPC) services for water supply projects, sewerage systems, and related civil works. The company undertakes design, execution, and commissioning of turnkey infrastructure projects, primarily serving government and municipal clients. Its operations include the construction of water treatment plants, overhead tanks, pipelines, and distribution networks. The company emphasises timely execution, quality assurance, and adherence to regulatory standards.
Financials of Oval Projects Engineering
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹46.74 crores |
| Fresh Issue | ₹46.74 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 37.03 (79.22%) |
| General corporate purposes and Miscellaneous | 9.71 (20.78%) |
Strengths
- Proven track record in executing water infrastructure projects.
- End-to-end EPC capabilities from design to commissioning.
- Experienced management team with sector-specific expertise.
- Established relationships with government and municipal bodies.
- Focus on quality, compliance, and timely project delivery.
Risks
- High dependence on government contracts and tender pipelines.
- Competitive bidding may pressure margins and profitability.
- Project delays could result in penalties or cost overruns.
- Revenue is concentrated in a limited geographic region.
- Working capital requirements may strain financial resources.
Allotment Status for Oval Projects Engineering
To check your allotment status – click here.
Subscription Figures for Oval Projects Engineering
As per media reports (Link), the Grey Market Premium (GMP) of Oval Projects Engineering is reported at ₹8 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on August 29, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 6.24 | 18.00 | 2.88x |
| NII | 14.40 | 4.17 | 0.29x |
| Retail | 21.95 | 6.88 | 0.31x |
| Total | 42.49 | 29.05 | 0.68x |