Summary
The Ravita Engineering Services IPO is a book-building SME IPO, scheduled to open on 13 October 2026 and close on 15 October 2026.
The tentative listing of the IPO shares is fixed on 21 October 2026 on the NSE SME platform.
The price band of the IPO shares are set at ₹105-₹112 per share, requiring a minimum investment of 2 lots (2,400 shares).
The Ravita Engineering Services IPO is a book-built SME IPO that is scheduled to open for subscription on 13 October 2026 and close on 15 October 2026. The company is offering 1,03,62,000 fresh equity shares with a face value of ₹5 each. The price band is fixed at ₹105 to ₹112 per share, while the IPO has a lot size of 1,200 shares. At the upper price band, the total issue size is approximately ₹116.05 crore. The minimum application requires 2 lots, or 2,400 shares, amounting to ₹2,68,800. The equity shares are proposed to be listed on the NSE SME platform, with the tentative listing date set for 21 October 2026.
Ravita Engineering Services IPO Key Details
The table below presents the essential details investors should know before applying for the Ravita Engineering Services IPO.
| IPO Open Date | 13 October 2026 |
| Close Date | 15 October 2026 |
| Face value | ₹5 per share |
| Issue Price | ₹105-₹112 per share |
| IPO Lot Size | 1,200 shares |
| Fresh issue | 1,03,62,000 shares |
| Offer for Sale | _ |
| Type of issue | SME book-building |
| Listing at | NSE SME |
| Total Issue Size (₹ Crore) | ₹116 crores approx |
| Minimum Investment | 2 lots (2,400 shares) |
Ravita Engineering Services IPO Timeline
Below is the complete schedule of events for the Ravita Engineering Services IPO.
| Bid Opening | 13 October 2026 |
| Bid Closing | 15 October 2026 |
| Tentative Allotment | 16 October 2026 |
| Initiation of Refunds | 19 October 2026 |
| Credit of Shares to Demat | 19 October 2026 |
| Tentative Listing Date | 21 October 2026 |
| UPI mandate closing date | 15 October 2026 |
Key Performance Indicators of Ravita Engineering Services IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 48.90 | 128.31 | 59.13 |
| ROCE (%) | 48.65 | 71.71 | 37.05 |
| Debt Equity (in times) | 0.19 | 1.53 | 1.07 |
| RoNW (%) | 48.90 | 128.31 | 59.13 |
| PAT Margin (%) | 10.09 | 10.82 | 11.15 |
| EBITDA margin (%) | 14.43 | 14.41 | 21.21 |
| Price to book | 3.07 |
Ravita Engineering Services IPO Financial Details
The Financial information of the Ravita Engineering Services IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 277.63 | 108.61 | 13.49 |
| Total Asset | 162.97 | 58.24 | 9.08 |
| Profit | 28.04 | 11.83 | 1.51 |
(Amount in ₹ Crores)
Ravita Engineering Services IPO Subscription Status
The subscription data of the Ravita Engineering Services IPO will be available once the bidding starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Ravita Engineering Services IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Ravita Engineering Services IPO shows a GMP of ₹0 with an estimated listing price of ₹0.
| GMP Date | GMP | Est. Listing Price on upper price-₹112.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 12-Oct 11:02 | ₹8 (7.14%) ▼ | ₹120 | ₹9,600 | Stable |
| 11-Oct 23:37 | ₹10 (8.93%) ▼ | ₹122 | ₹12,000 | Stable |
| 10-Oct 23:37 | ₹12 (10.71%) ─ | ₹124 | ₹14,400 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Ravita Engineering Services IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not more than 50% of the net issue |
| NIIs | Not less than 15% of the net issue |
| Retails | Not less than 35% of the net issue |
| Total | 100% |
Ravita Engineering Services IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ |
| Individual Investor (Min) | 2 | 2,400 | 2,68,800 |
| Individual Investor (Max) | 2 | 2,400 | 2,68,800 |
| sHNI (Min) | 3 | 3,600 | 4,03,200 |
| sHNI (Max) | 7 | 8,400 | 9,40,800 |
| bHNI (Min) | 8 | 9,600 | 10,75,200 |
Ravita Engineering Services IPO Prospectus
Investors can access the offered prospectus for the Ravita Engineering Services IPO mentioned below.
About Ravita Engineering Services Ltd.
Ravita Engineering Services Limited is an engineering company that provides turnkey Engineering, Procurement, Installation and Commissioning (EPIC) services and operations and maintenance (O&M) solutions. The company works mainly with HVAC, central air-conditioning, chiller plants, cooling systems and other electro-mechanical equipment. Its operations are divided into three areas: onshore, offshore and data centres.
The company was originally incorporated as Sayo Construction Private Limited in December 2007. It subsequently changed its name to Powermech Services Private Limited, then to Ravita Engineering Services Private Limited in 2025, before being converted into a public limited company and renamed Ravita Engineering Services Limited in December 2025.
Its onshore business covers commercial establishments, hospitality units, corporate parks and industrial facilities across states including Gujarat, Maharashtra, Odisha and Karnataka. Its offshore operations involve rigs, platforms and other marine installations in India’s territorial waters. During the three financial years and the three-month period ended June 30, 2026, the company had undertaken operations across six rigs and 16 associated offshore oil and gas platforms. Its data centre business provides operations and maintenance services for cooling systems, chiller plants, HVAC equipment and mechanical utilities.
Promoters:
- Vibhoar Agrawal
- Rachita Agrawal
- Starwings Realtors Pvt. Ltd.
| Book Runner | Vivro Financial Services Pvt. Ltd. |
| Issue Registrar | MUFG Intime India Pvt. Ltd. |
Objectives of Ravita Engineering Services IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Crores |
| For capital expenditure requirements for purchase of certain heavy equipment | 25.53 |
| For long-term working capital requirements | 70.00 |
| General corporate purposes | – |
| Total | – |
Ravita Engineering Services Ltd.- Strengths and benefits
- Integrated EPIC and O&M capabilities: Ravita Engineering Services combines project execution with operations and maintenance services. According to the RHP, this gives the company experience across the equipment lifecycle and allows it to serve clients as both a project execution and long-term maintenance partner.
- Specialised segments: The company operates across onshore, offshore and data centre projects. Its experience includes offshore rigs and platforms as well as mission-critical data centre cooling infrastructure, giving it exposure to multiple end-use areas.
Ravita Engineering Services Ltd- Risks and limitations
- Top customer contribution: A significant portion of the company’s order book and revenue is attributable to certain key customers. Losing these customers or receiving lower demand from them could affect the company’s business, financial performance and profitability.
- Project execution risks: The company’s revenue depends substantially on successfully executing EPIC and hybrid projects within the required timelines. Delays or difficulties in project execution could affect revenue recognition, costs and margins.
- Specialised operating environments: Ravita operates at offshore rigs, marine installations and data centres where equipment performance, safety and timely maintenance are critical. Operational disruptions or delays in these environments could adversely affect its business.
Ravita Engineering Services IPO Review
The Ravita Engineering Services IPO is a book-built SME that is issuing shares of approximately ₹116.05 crores. It comprises fresh equity of 1,03,62,000 shares. The price band is set at a range of ₹105 to ₹112 for each share, and the lot size is given as 1,200 shares. This makes the minimum investment size 2,400 shares or 2 lots (₹2,68,800). The IPO shares are fixed to open on 13 October 2026 and close on 15 October 2026, with its allotment expected to be on 16 October and listing proposed on 21 October 2026 on the NSE platform.
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Ravita Engineering Services IPO FAQs
The Ravita Engineering Services IPO is a book-built SME public issue comprising 1,03,62,000 fresh equity shares. The issue has a price band of ₹105 to ₹112 per share and is proposed to be listed on the NSE SME platform.
Investors can apply for the Ravita Engineering Services IPO through the ASBA process. Eligible retail investors can also use the UPI mechanism, where applicable. The minimum application requires 2 lots of 1,200 shares each, or 2,400 shares.
The IPO has some potential strengths, including the company’s growing order book, presence across onshore, offshore and data centre segments, integrated EPIC and O&M capabilities and recent growth in revenue and profit. However, investors should also consider customer concentration, project execution risks, working capital requirements and the risks associated with an SME listing before making an investment decision.
The Ravita Engineering Services IPO will open for subscription on 13 October 2026 and close on 15 October 2026.
The lot size is 1,200 shares. Investors need to apply for a minimum of 2 lots, or 2,400 shares. At the upper price band of ₹112 per share, the minimum application amount is ₹2,68,800.
The tentative allotment date for the Ravita Engineering Services IPO is 16 October 2026. Refunds and credit of shares to demat accounts are scheduled for 19 October 2026.
The tentative listing date of Ravita Engineering Services shares is 21 October 2026 on the NSE SME platform.
