Vans Electroengineerings IPO: dates, price band, lot size and GMP
Vans Electroengineerings IPO closed on 1 Oct on the SME; price band ₹112 – ₹118, lot 1,200 shares, GMP ₹103 (+87.3% over the upper band). Allotment 5 Oct, listing 7 Oct.
Updated 6 Oct 2026, 14:03 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the Vans Electroengineerings IPO has a price band of ₹112 – ₹118, a lot of 1,200 shares and a grey-market premium of ₹103 (+87.3% over the upper band) as of 06 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 29 Sep – 1 Oct 2026 |
| Price band | ₹112 – ₹118 |
| Lot size | 1,200 shares |
| Issue size | ₹33.98 Cr |
| Fresh issue | ₹32.26 Cr |
| GMP (unofficial) | ₹103 |
| Subscription | 628.73x |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead managers | Hem Securities Ltd. |
| Status | Closed, listing awaited |
Timeline
- Issue opens: 29 Sep
- Issue closes: 1 Oct
- Allotment: 5 Oct
- Refunds: 6 Oct
- Demat credit: 6 Oct
- Listing: 7 Oct
GMP today
Grey-market premium ₹103 per share (87.3% over the upper band of ₹118), estimated listing price about ₹221. Unofficial, dated, not a forecast. Day-by-day GMP trend.
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 281.65x |
| NII | 1,031.87x |
| sNII | 737.56x |
| bNII | 1,183x |
| Retail | 686.32x |
| Total | 628.73x |
Last updated 1 Oct 2026, 5:54 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹128.38 Cr |
| P/E (pre-issue) | 17.51x |
| P/E (post-issue) | 23.79x |
| Fresh issue (shares) | 27,33,600 |
| Total shares offered | 27,33,600 |
| Promoter holding pre-issue | 90.75% |
| Promoter holding post-issue | 66.73% |
| Promoters | Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal, Hotspot Infodot Pvt.Ltd. |
| Lead managers | Hem Securities Ltd. |
| Registrar phone | 8657578989/8069219065/8069219060 |
| Registrar email | ipo@bigshareonline.com |
| Company website | vanselectroengineerings.com |
| Anchor bid date | 28 Sep 2026 |
| Anchor lock-in ends (50%) | 4 Nov 2026 |
| Anchor lock-in ends (remaining) | 3 Jan 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,400 | ₹2,83,200 |
| Retail (maximum) | 2 | 2,400 | ₹2,83,200 |
| sNII (minimum) | 3 | 3,600 | ₹2,83,200 |
| bNII (minimum) | 3 | 3,600 | ₹11,32,800 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 29.4% | 8,04,000 | |
| QIB | 19.7% | 5,37,600 | Not more than 50% of the Offer |
| NII (HNI) | 14.7% | 4,03,200 | Not less than 15% of the Offer |
| sNII | 5% | 1,36,800 | |
| bNII | 9.7% | 2,66,400 | |
| Retail | 34.4% | 9,40,800 | Not less than 35% of the Offer |
| Employee | 1.8% | 48,000 | |
| Market Maker | 5.4% | 1,46,400 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 29 Sep | 0.00x | 2.10x | 2.76x | 1.76x | 4.55x | 2.66x |
| Day 2 · 30 Sep | 0.03x | 65.33x | 72.04x | 61.89x | 95.16x | 60.07x |
| Day 3 · 1 Oct | 281.65x | 1031.87x | 737.56x | 1183.00x | 686.32x | 628.73x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹6.74 |
|---|---|
| EPS (post-issue) | ₹4.96 |
| P/E (pre-issue) | 17.51x |
| P/E (post-issue) | 23.79x |
| RoNW | 58.79% |
| RoCE | 63.96% |
| RoE | 83.27% |
| PAT margin | 23.61% |
| EBITDA margin | 31.63% |
| Price / book | 10.3x |
| NAV per share | ₹11.46 |
| Debt / equity | 0.28 |
| Market cap (upper band) | ₹128.38 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 16.85 | 5.34 | 6.57 | +215.5% |
| Total Income | 23.19 | 13.82 | 2.76 | +67.8% |
| Profit After Tax | 5.39 | 1.73 | 0.02 | +211.6% |
| EBITDA | 7.23 | 2.48 | 0.02 | +191.5% |
| NET Worth | 9.17 | 3.78 | 1.05 | +142.6% |
| Reserves and Surplus | 7.17 | 1.78 | 0.05 | +302.8% |
| Total Borrowing | 2.55 | 1.2 | 5.17 | +112.5% |
About Vans Electroengineerings
VANS Electroengineerings Limited is an ISO 9001:2015 certified engineering company engaged in the design, manufacture, and supply of traction power supply and overhead equipment (OHE) system components used in railway electrification projects, metro rail networks, and renewable energy infrastructure. The Company's core product portfolio includes Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs), encompassing both single-pole and double-pole configurations, which are primarily supplied to Indian Railways and railway electrification contractors.
The Company operates a manufacturing facility located in Salem, Tamil Nadu, equipped with modern production systems, in-house testing facilities, and quality assurance infrastructure. Its products have received approvals from the Research Designs and Standards Organisation (RDSO) and undergo testing and validation by reputed institutions, including Korea Electrotechnology Research Institute (KERI), South Korea, and Central Power Research Institute (CPRI), Bengaluru, ensuring compliance with stringent industry and international standards.
VANS Electroengineerings focuses on delivering reliable and high-performance electrical equipment through a combination of engineering expertise, advanced manufacturing processes, and rigorous quality control practices. The Company is led by experienced promoters and a technically proficient management team with domain knowledge in electrical engineering, railway electrification, and infrastructure development.
Objects of the issue
- To meet working capital requirements of the company — ₹25 Cr
- General corporate purpose
Net proceeds: ₹25 Cr
Strengths (per the offer document)
- Niche Market Focus with Quality and Timely Delivery
- Quality Assurance Standards and RDSO Approved Entity
- Core Engineering and Integrated Engineering, Assembling and Testing Capabilities
- Established Customer Base and Geographical Footprint
- Experienced and Qualified Promoters
Risk factors (as disclosed by the company)
- Our business and revenue are substantially dependent on the Indian Railways — material effect on our business and results of operations.
- We derive a significant portion of our revenue from the sale of our two-key product verticals i.e. Vacuum Circuit Breakers — and Vacuum Interrupters.
- A significant portion of our revenue from operations is derived from a limited number of customers and our inability to maintain existing customer…
- We are contractually and commercially subject to stringent quality
- We depend on the timely availability of raw materials and components from suppliers, and any disruption in supply
- We operate our manufacturing facility and registered office from rented and leased premises and any termination
- Our business depends on our product engineering
- Standardized railway procurement procedures
From the RHP (strengths page 4, risk factors pages 7–8). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Vans Electroengineerings IPO GMP today and trend
- Vans Electroengineerings IPO subscription status, day by day
- Vans Electroengineerings IPO allotment status and how to check
Frequently asked questions
When does the Vans Electroengineerings IPO open and close?
The issue is scheduled for 29 Sep – 1 Oct 2026.
What is the Vans Electroengineerings IPO price band?
The price band is ₹112 – ₹118 per share with a lot size of 1,200 shares.
How big is the Vans Electroengineerings IPO?
The total issue size is ₹33.98 Cr.
What is the Vans Electroengineerings IPO GMP today?
The grey-market premium reported today is ₹103 per share. GMP is an unofficial, unregulated indicator and not a prediction of the listing price.
When will Vans Electroengineerings list?
The tentative listing date is 7 Oct on the SME platform.
How do I apply for the Vans Electroengineerings 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), Vans Electroengineerings · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Vans Electroengineerings · as filed · bseindia.com
- Registrar allotment page, Bigshare Services Pvt.Ltd. · allotment 5 Oct · ipo.bigshareonline.com
- BSE SME issues page · listing 7 Oct · bsesme.com
- Vans Electroengineerings company website · vanselectroengineerings.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 08:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Vans Electroengineerings IPO”, https://buyunlistedshares.com/ipo/vans-electroengineerings-ipo, as of 06 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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