Ravita Engineering Services IPO – Company Analysis
Ravita Engineering Services IPO is a book build issue of Rs. 116.05 Cr (1.04 Cr shares) by Ravita Engineering Services Limited, which is an engineering solutions company engaged in Engineering, Procurement, Installation and Commissioning (EPIC) of HVAC systems, central air-conditioning solutions, airflow 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.
Ravita Engineering Services IPO Details
The Ravita Engineering Services IPO date is 13 Oct 2026; its initial public offering will end on 15 Oct, IPO allotment on Oct 16 and refund initiation on Oct 19, 2026. The Rs. 116.05 crore new SME IPO comprises a wholly fresh issue of 1.04 crore shares.
The Ravita Engineering Services IPO listing date (expected) might be Wednesday, Oct 21, 2026, and the listing on the NSE and SME.
Ravita Engineering Services IPO price band is Rs. 105 to Rs. 112.
|
Events |
Date |
|
IPO Opening Date |
Oct 13, 2026 |
|
IPO Closing Date |
Oct 15, 2026 |
|
IPO Allotment Date |
Oct 16, 2026 |
|
Refund Initiation |
Oct 19, 2026 |
|
IPO Listing Date |
Oct 21, 2026 |
Click to open demat account and apply for the IPO.
Company Financial
(Amount in Cr)
|
Period |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
162.97 |
58.24 |
9.08 |
|
Total Income |
277.82 |
109.30 |
13.53 |
|
Profit After Tax |
28.04 |
11.83 |
1.51 |
|
EBITDA |
40.05 |
15.65 |
2.86 |
|
Net Worth |
99.56 |
15.13 |
3.30 |
|
Reserves & Surplus |
85.90 |
15.03 |
3.20 |
Cash Flows
(Amount in Lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
(4,685.10) |
(894.36) |
17.32 |
|
Net Cash Flow Investing Activities |
(40.20) |
(1,003.26) |
2.79 |
|
Net Cash Flow Financing Activities |
5,176.97 |
1,923.82 |
(326.42) |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- To meet long-term working capital requirements of the Company. ~ Rs. 70 Cr.
- Funding capital expenditure requirements of our Company towards purchase of certain heavy equipment. ~ Rs. 25.53 Cr.
- General Corporate Purposes.
Listed Peers of Ravita Engineering Services Ltd.
No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
48.90% |
|
ROCE |
48.65% |
|
Debt/Equity |
0.19 |
|
RoNW |
48.90% |
|
PAT Margin |
10.09% |
|
EBITDA Margin |
14.43% |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 11.05 from the last year, the resulting P/E ratio is 10.13x.
|
Valuation Metric |
Pre IPO |
Post IPO |
|
EPS (₹) |
10.26 |
10.75 |
|
P/E (x) |
10.92 |
10.42 |
Explore the R.K. Fashion Accessories IPO.
IPO's Strengths
- Multi-site project execution capabilities.
- Balanced EPIC and O&M business model.
- Large and qualified engineering workforce.
- Strong management and domain expertise.
IPO's Weaknesses
- A major portion of fresh issue proceeds is allocated toward working capital.
- Reliance on specific large electro-mechanical/HVAC contracts creates project dependency risks.
- Past vulnerability to negative operating cash flows or elevated debt-to-equity ratios during high growth phases.
Ravita Engineering Services IPO GMP
Ravita Engineering Services IPO GMP today is Rs. 0 as of 08 October 2026, while writing this information.
GMP is an unofficial indicator that changes daily with demand and subscription, so track the live IPO GMP today page for updated numbers across all mainboard and SME issues.
Since this is an SME issue, its premium can move sharply before listing. You can compare it with the SME IPO GMP and subscription status of other ongoing issues, or see how similar issues are priced in the grey market, like the Dove Soft IPO and Vans Electroengineerings IPO.
Ravita Engineering Services IPO Summary
|
IPO Opening & Closing Date |
13 Oct, 2026 to 15 Oct, 2026 |
|
Face Value |
Rs. 5 per Share |
|
Issue Price |
Rs. 105 to Rs. 112 per Share. |
|
Lot Size |
1200 Shares |
|
Issue Size |
1,03,62,000 Shares (Rs. 116 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
98,40,000 Shares (Rs. 110 Cr) |
|
Market Makers |
5,22,000 Shares (Rs. 6 Cr) |
|
Issue Type |
Bookbuild Issue |
|
Registrar |
MUFG Intime India Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (2400 Shares) for Rs. 2,68,800, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3600 Shares) for Rs. 4,03,200.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Ravita Engineering Services IPO Allotment Status
To check the Ravita Engineering Services IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Ravita Engineering Services Ltd.
- Vibhoar Agrawal
- Rachita Agrawal
- Starwings Realtors Pvt. Ltd.
|
Pre-Issue Promoter Shareholding |
73.74% |
|
Post-Issue Promoter Shareholding |
53.46% |
IPO Lead Managers
- Vivro Financial Services Pvt. Ltd.
Dividend Policy
The company has not paid a dividend during the last three FYs.
Conclusion
Ravita Engineering Services IPO opens on 13 October 2026 and closes on 15 October 2026 at a price band of ₹105–₹112. The ₹116 crore pure fresh issue aims to fund working capital and capital expenditure for its HVAC and electromechanical EPIC + O&M business across onshore, offshore, and data-centre projects.
With strong revenue growth, healthy margins, and a reasonable post-IPO P/E, the SME IPO offers an opportunity for investors seeking exposure to India’s engineering and infrastructure services space.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To read the Prospectus of the company and download the DRHP & RHP.
Click Here To Stay Updated With The Upcoming IPOs.
DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
