Ravita Engineering Services IPO: dates, price band, lot size and GMP
Ravita Engineering Services IPO opens 13 – 15 Oct 2026 on the SME, price band ₹105 – ₹112, lot 1,200 shares, no GMP reported yet. Allotment 16 Oct, listing 21 Oct.
Updated 8 Oct 2026, 09:10 IST. Dated dealer references.
BuyUnlistedShares tracks 199 IPOs on its calendar; the Ravita Engineering Services IPO has a price band of ₹105 – ₹112, a lot of 1,200 shares and no grey-market premium reported yet as of 08 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 13 – 15 Oct 2026 |
| Price band | ₹105 – ₹112 |
| Lot size | 1,200 shares |
| Issue size | ₹116.05 Cr |
| Fresh issue | ₹110.21 Cr |
| Subscription | — |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead managers | Vivro Financial Services Pvt.Ltd. |
| Status | Upcoming |
Timeline
- Issue opens: 13 Oct
- Issue closes: 15 Oct
- Allotment: 16 Oct
- Refunds: 19 Oct
- Demat credit: 19 Oct
- Listing: 21 Oct
Issue details
| Face value | ₹5 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE SME |
| Market cap at the upper band | ₹422.02 Cr |
| P/E (pre-issue) | 25.87x |
| P/E (post-issue) | 15.07x |
| Fresh issue (shares) | 98,40,000 |
| Total shares offered | 98,40,000 |
| Promoter holding pre-issue | 73.74% |
| Promoter holding post-issue | 0% |
| Promoters | Vibhoar Agrawal, Rachita Agrawal and Starwings Realtors Pvt.Ltd. |
| Lead managers | Vivro Financial Services Pvt.Ltd. |
| Registrar phone | 022-49186000 |
| Registrar email | ravitaengineering.smeipo@in.mpms.mufg.com |
| Company website | ravita.co.in |
| Anchor bid date | 12 Oct 2026 |
| Anchor lock-in ends (50%) | 15 Nov 2026 |
| Anchor lock-in ends (remaining) | 14 Jan 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,400 | ₹2,68,800 |
| Retail (maximum) | 2 | 2,400 | ₹2,68,800 |
| sNII (minimum) | 3 | 3,600 | ₹2,68,800 |
| bNII (minimum) | 3 | 3,600 | ₹10,75,200 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not more than 50 % of the Net Issue |
| NII (HNI) | — | — | Not less than 15.00% of the Net Issue |
| Retail | — | — | Not less than 35.00% of the Net Issue |
| Market Maker | — | 5,22,000 |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹4.33 |
|---|---|
| EPS (post-issue) | ₹7.43 |
| P/E (pre-issue) | 25.87x |
| P/E (post-issue) | 15.07x |
| RoNW | 128.31% |
| RoCE | 71.71% |
| RoE | 128.31% |
| PAT margin | 10.82% |
| EBITDA margin | 14.41% |
| Price / book | 14.95x |
| NAV per share | ₹7.49 |
| Debt / equity | 1.53 |
| Market cap (upper band) | ₹422.02 Cr |
Financials (₹ Cr)
| Metric | 31 Dec 2025 | FY25 | FY24 | FY23 | FY25 vs FY24 |
|---|---|---|---|---|---|
| Assets | 146.68 | 58.24 | 9.08 | 9.8 | ×6.4 |
| Total Income | 208.32 | 109.3 | 13.53 | 18.6 | ×8.1 |
| Profit After Tax | 20.99 | 11.83 | 1.51 | 0.11 | ×7.8 |
| EBITDA | 30.06 | 15.65 | 2.86 | 1.01 | +447.2% |
| NET Worth | 92.51 | 15.13 | 3.3 | 1.8 | +358.5% |
| Reserves and Surplus | 92.38 | 15.03 | 3.2 | 1.7 | +369.7% |
About Ravita Engineering Services
Ravita Engineering Services Ltd., founded in December 2007, specializes in EPIC contracts for HVAC, central air-conditioning, air flow systems, chillers, compressors, cooling equipment, and other electromechanical systems on a turnkey basis for commercial, industrial, offshore rigs, and platforms. They also offer operation and maintenance services for their projects and third-party systems.
The company also engages in the execution of a specialised niche engineering project, viz., laying of sub-sea discharge pipelines for the effluent treatment plant ("ETP") at Paradeep, Odisha.P") at Paradeep, Odisha.
The company's business operations fall into three areas of expertise, namely, (i) Onshore; (ii) Offshore; and (iii) Data Centre.
The company has undertaken its Onshore operations in states like Gujarat, Maharashtra, Odisha and Karnataka.
Its offshore operations occur at rigs, platforms, and marine installations in India's territorial waters.
The company's Data Centre operations include maintaining cooling systems, chiller plants, HVAC, and utilities to ensure uptime, reliability, and temperature control. They currently serve a large Indian conglomerate at their Navi Mumbai data center. As of December 31, 2025, our order book for Data Center O&M services was ₹ 7,403.63 lakhs.
Objects of the issue
- To meet long-term working capital requirements of the Company — ₹66 Cr
- Funding capital expenditure requirements of our Company towards purchase of certain heavy equipment — ₹25.09 Cr
- General Corporate Purposes
Net proceeds: ₹91.09 Cr
Strengths (per the offer document)
- KEY FINANCIAL INFORMATION — Over the past three fiscal years, our financial performance has reflected both growth in scale and variation in revenue mix across segments.
- EBITDA has been calculated as a sum of profit before tax
- Networth is calculated as a sum of Equity Share Capital and Reserves and Surplus as per the restated financial…
- Total debt is calculated as long-term borrowings plus short-term borrowings (including current maturities of long-term…
- Debt to Equity Ratio is calculated as Total Debt divided by Networth as per restated financial statements
Risk factors (as disclosed by the company)
- Our present order book consists of certain large-scale projects. Any delay or impediment to such projects may have an adverse impact on our financial position — As of December 31, 2025, our order book comprises 17 ongoing projects, with an aggregate order value of ₹47,966.23 Lakhs, which includes 10 ongoing EPIC projects amounting to ₹ 22,527.08 lakhs.
- Our ongoing projects are exposed to various implementation risks and uncertainties and may be delayed, modified or cancelled for reasons beyond our control — Execution of our Projects may be delayed for reasons beyond the control of our Company such as, delay in clients’ approval on design, planning (including variation), extensive revision by clients,…
- We face the risk of disqualification, suspension or blacklisting by project owners or client — The customer tendering process is a formal and transparent system through which the customer invites bids from qualified contractors.
- Our contracts may be terminated prior to completion, and any such early termination could materially and adversely affect our business, financial position — We generally secure projects through competitive bidding and subsequently the government bodies, public sector undertakings and enterprise clients issue letters of intent and contracts are awarded…
- An increase in cost of expenses related to payment made to our vendors, sub-contractors and labour — We incur a majority of our expenses towards purchase of materials and services related to project execution work, which primarily include manpower costs, other subcontractor and vendor expenses,…
- We are unable to trace certain of our historical records — (i) We are unable to trace and/or access certain secretarial records, including the form filings made by our Company, challans obtained for the filed forms and certain corporate records required to…
- Dependence on third-party OEMs for mechanical equipment exposes us to risks of cost escalation and procurement delays — We rely on third-party Original Equipment Manufacturers (“OEMs”) for supply of critical hardware components and server infrastructure, required for development, deployment and maintenance of our…
- We face certain competitive pressures from existing competitors and new entrants, in both public and private sector — and results of operations.
From the DRHP (strengths pages 176–179, risk factors pages 28–35). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF)
Track this issue
- Ravita Engineering Services IPO GMP today and trend
- Ravita Engineering Services IPO subscription status, day by day
- Ravita Engineering Services IPO allotment status and how to check
Frequently asked questions
When does the Ravita Engineering Services IPO open and close?
The issue is scheduled for 13 – 15 Oct 2026.
What is the Ravita Engineering Services IPO price band?
The price band is ₹105 – ₹112 per share with a lot size of 1,200 shares.
How big is the Ravita Engineering Services IPO?
The total issue size is ₹116.05 Cr.
When will Ravita Engineering Services list?
The tentative listing date is 21 Oct on the SME platform.
How do I apply for the Ravita Engineering Services IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Ravita Engineering Services · as filed with SEBI · nsearchives.nseindia.com
- Registrar allotment page, MUFG Intime India Pvt.Ltd. · allotment 16 Oct · in.mpms.mufg.com
- NSE public issues page · listing 21 Oct · nseindia.com
- Ravita Engineering Services company website · ravita.co.in
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · as of 8 Oct 2026 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Ravita Engineering Services IPO”, https://buyunlistedshares.com/ipo/ravita-engineering-services-ipo, as of 08 Oct 2026.
Other IPOs on the calendar
- HD Fire Protect IPO · 13 – 15 Oct 2026
- Jio Platforms IPO · 21 – 23 Oct 2026
Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 08 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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