Ravita Engineering Services IPO
Upcoming SMEAlready have an account? Apply now
Ravita Engineering Services IPO details
Schedule of Ravita Engineering Services
| Issue open date | 13 Oct 2026 |
| Issue close date | 15 Oct 2026 |
| UPI mandate deadline | 15 Oct 2026 (5 PM) |
| Allotment finalization | 16 Oct 2026 |
| Refund initiation | 19 Oct 2026 |
| Share credit | 19 Oct 2026 |
| Listing date | 21 Oct 2026 |
| Mandate end date | 30 Oct 2026 |
| Lock-in end date for anchor investors (50%) | 14 Nov 2026 |
| Lock-in end date for anchor investors (remaining) | 13 Jan 2027 |
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 Ravita Engineering Services
Ravita Engineering Services provides engineering solutions for heating, ventilation, and air conditioning (HVAC) systems, temperature control systems, and other allied electro-mechanical equipment. The company operates across three primary business segments: offshore projects, onshore projects, and the data center industry. Its core business activities are divided into Engineering, Procurement, Installation, and Commissioning (EPIC) projects, as well as standalone Operations and Maintenance (O&M) service contracts. In certain instances, the company executes hybrid projects that combine initial EPIC work with subsequent long-term O&M services. The company procures critical hardware components and server infrastructure from third-party original equipment manufacturers to develop and deploy its solutions. Operations are primarily concentrated in western India, with significant project execution occurring in Maharashtra, Gujarat, and the territorial waters of India. Revenue is generated through competitive bidding and tender processes for both public sector undertakings and private corporate clients.
Financials of Ravita Engineering Services
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 116.05 |
| Fresh Issue – Proceeds go to the company | 116.05 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| To meet long-term working capital requirements |
70 (60.32%) |
| Capital expenditure for purchase of heavy equipment | 25.53 (22%) |
| General Corporate Purposes | 20.52 (17.68%) |
Strengths
- Diverse HVAC portfolio across offshore, onshore, and data centers.
- Strategic geographic presence in western India and offshore regions.
- Robust order book and consistent history of profitability.
- Strong client relationships driving repeat EPIC contracts.
- Specialized expertise in hybrid engineering and O&M projects.
Risks
- High revenue concentration from top clients poses financial risks.
- The geographic concentration in Western India exposes operations to local disruptions.
- Dependence on competitive bidding creates revenue uncertainty.
- Reliance on contract labor and OEMs risks cost overruns and delays.
- Promoter-linked entity strike-off poses regulatory and reputational risks.