- Summary
- The IPO period runs from 30 October 2026 to 3 November 2026. The price range would be ₹99–₹105 per equity share, and the offer size would be around ₹53.05 crore.
- Vectras Enprocon offers EPC services for the construction of pipelines and stations for the oil and gas industries. The lot size of the IPO is 1,200 equity shares. Individual applications will be placed in two lots, and the total amount for individual applications would be ₹2,52,000.
- Under the S-HNI category, the minimum lot is 3, containing 3,600 shares in total amounting to ₹3,78,000, and the maximum lot is 7, containing 8,400 shares in total amounting to ₹8,82,000.
The Vectras Enprocon IPO is a book-building issue amounting to ₹53.05 crore, comprising a fresh issue of 38,02,800 shares and an OFS of 9,96,000 shares. The dates of issue are 30 October 2026 and 3 November 2026. The price band is ₹99-₹105 per share.
The date of allotment is 4 November 2026, and refunds and dematerialization of shares will be credited on 5 November 2026. The listing date will be 6 November 2026 at the BSE SME Platform.
The lot size is 1,200 shares under the Retail category, with a minimum of 2 lots totaling 2,400 shares, amounting to ₹2,52,000. And in the B-HNI category, the minimum lot is 8, with 9,600 shares valued at ₹10,08,000.
Vectras Enprocon IPO Key Details
Here is a quick look at the important details of the Vectras Enprocon IPO:
| IPO Open Date | 30 October, 2026 |
| Close Date | 3 November, 2026 |
| Face value | ₹10 per share |
| Price Band | ₹99 to ₹105 |
| Issue price | – |
| IPO Lot Size | 1,200 shares |
| Offer for sale | 9,96,000 shares (₹10.46 cr) |
| Fresh issue | 38,02,800 shares (₹42.59 cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE SME |
| Total Issue Size (₹ Crore) | 50,52,000 shares (₹53.05 cr) |
| Minimum Investment | ₹2,52,000 (2,400 shares) |
Vectras Enprocon IPO Timeline
The key dates for the Vectras Enprocon IPO are given below:
| Bidding Opens | 30 October, 2026 |
| Bidding Closes | 3 November, 2026 |
| Allotment Planned For | 4 November, 2026 |
| Refunds Start On | 5 November, 2026 |
| Share Credit to Demat | 5 November, 2026 |
| Listing Scheduled | 6 November, 2026 |
| Cut-off for UPI mandate | 3 November, 2026 5:00 PM |
Vectras Enprocon Key Performance Indicators (KPIs)
Vectras Enprocon IPO KPIs are presented in the following table:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 51.39% | 59.00% | 93.02% |
| ROCE (%) | 48.37% | 56.09% | 79.27% |
| Debt-Equity (times) | 0.59 | 0.53 | 0.34 |
| RoNW (%) | 51.39% | 59.00% | 93.02% |
| PAT Margin (%) | 12.88% | 12.63% | 10.70% |
| EBITDA Margin (%) | 20.04% | 18.70% | 15.96% |
| Price Book Value | 4.17 | – |
Vectras Enprocon IPO Financials
Here is an overview of the company’s financial figures:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 7,493.52 | 4,649.54 | 2,147.36 |
| Revenue from operations | 11,980.20 | 8,048.03 | 5,431.89 |
| Profit After Tax | 1,543.27 | 1,016.77 | 581.19 |
Vectras Enprocon IPO Subscription Status
Subscription Details Not Yet Available
Subscription information will be displayed once the bidding process starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Vectras Enprocon IPO Grey Market Premium
The listing date for the Vectras Enprocon IPO is expected on 6 November 2026, with a price range of ₹99- ₹105 per equity share. Grey market premiums (GMPs) can fluctuate frequently because they are unofficial.
| Date | GMP | Estimated Listing Price | Estimated Listing Gain | Trend | Last Updated |
| 30-10-2026 | ₹0 | ₹105 | 0% | Neutral | 30-10-2026 10:50 |
Note: GMP represents sentiment in the unofficial market and should not be considered an indication of assured listing returns.
Vectras Enprocon IPO Reservation
The share allocation for each investor category is outlined below:
| Investor Category | Reservation |
| Market Maker | 2,53,200 |
| QIB | Not more than 50% of the net offer |
| NIIs | Not less than 15% of the net offer |
| Retail Investors | Not less than 35% of the net offer |
| Total Shares | – |
Vectras Enprocon IPO Lot Size
The applicable lot sizes for different investor categories are as follows:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 2 | 2,400 | ₹2,52,000 |
| Individual Investor – Maximum | 2 | 2,400 | ₹2,52,000 |
| S-HNI Minimum | 3 | 3,600 | ₹3,78,000 |
| S-HNI Maximum | 7 | 8,400 | ₹8,82,000 |
| B-HNI Minimum | 8 | 9,600 | ₹10,08,000 |
Vectras Enprocon IPO Anchor Investors
The allotment status of the Vectras Enprocon IPO is currently not yet available. As a result, information related to anchor bidding, share allocation, investment value, and lock-in periods will be added once it is disclosed.
Vectras Enprocon IPO Prospectus
For more information on the Vectras Enprocon IPO, check the links below:
About Vectras Enprocon IPO
Incorporation: 2021
Managing Director: Maheshkumar Gopalbhai Patel
Vectras Enprocon Limited is an engineering, procurement, and construction (EPC) company based in Gujarat that operates in the oil and gas industry. The firm focuses on pipeline systems development, construction of oil and gas stations and other related infrastructure.
The company is engaged in midstream and downstream infrastructure projects for government organizations and other private companies within India. The scope of their operations includes the development of cross-country pipelines, city gas distribution infrastructure, station infrastructure, civil and mechanical infrastructure, electrical infrastructure and instrumentation. The company also offers inspection, testing and safety audit services.
The company practices an integrated project execution approach that encompasses several stages of infrastructure development. Its performance is associated with contract receipt, efficient project completion, cost management, and client relationships.
| Issue Registrar | MUFG Intime Private Limited |
| Lead Manager | Beeline Capital Advisors Pvt. Ltd. |
Vectras Enprocon IPO Objectives
Funds received from the IPO will be directed towards the following purposes:
| Particulars | Amount (in ₹ Lakhs) |
| Repayment/prepayment of certain outstanding borrowings | 1,400 |
| To meet working capital requirements | 2,000 |
| General corporate purposes |
Strengths of Vectras Enprocon IPO
These include high revenue growth rate, profitability, project execution capacity, and current order book. The parameters below demonstrate its current performance and potential for growth in the coming days.
- High Revenue Growth Rate: Revenue from operations of Vectra Enprocon has grown from ₹5,431.89 Lakhs in FY24 to ₹8,048.03 Lakhs in FY25 and ₹11,980 Lakhs in FY26, reflecting a compound growth rate of around 48.5% over two years. Revenue growth means more business and more project execution. But to sustain that growth, they need to execute more contracts successfully.
- Integrated EPC Capabilities: The company’s capabilities include cross-country pipelines up to 30” in diameter and combined station pipelines up to 48” in diameter. It could be beneficial to provide several services through a single project execution model to coordinate the construction phases and avoid overreliance on multiple contractors.
- Experienced Promoters and Management: The company’s promoters have over 15 years of experience in the oil and gas engineering, procurement, and construction sector, as noted in CRISIL’s rationale for its rating. Management’s industry experience may prove helpful in understanding tender requirements and execution challenges, as well as relationships with suppliers and clients. However, the company’s success would also depend on how well it executes the project.
Risks of Vectras Enprocon IPO
Even with impressive performance in sales and profitability, there are various risks associated with Vectras Enprocon that should be considered before subscribing to its IPO. These include risks such as negative operating cash flows, customer concentration, increased borrowings, and challenges with executing projects.
- High Customer Concentration: In FY26, Vectras Enprocon got 92.27% of its sales from its ten largest customers. In April-September 2026, 97.29% of revenue was generated by the top 10 customers. High dependence on a few customers poses significant risks to the business, as it relies on their purchasing power.
- Geographic Concentration Risk: The company’s geographic concentration risk is quite high, with Gujarat and Maharashtra contributing 71.52% of total revenues in FY26 and 87.92% in April–September 2026. Any change in infrastructure spending in these regions will affect the company’s operations. However, by expanding the geographical reach, this dependency can be minimized.
- Vulnerability to Few Suppliers and Outside Contractors: This firm depends on only a few suppliers for some of its key materials and components. This is also true for outside contractors performing activities such as on-site labor, drilling, and excavation. A disruption by any supplier, any quality problem with supplied materials, or a delay by any contractor would affect the time schedule and cost of projects.
Vectras Enprocon IPO Review
The Vectras Enprocon IPO is a book-built offer which is a combination of a new share offering and an offer for sale. Vectras Enprocon Limited is engaged in the oil and gas infrastructure business, offering engineering, procurement, and construction services for pipelines, stations, and related facilities.
The company generated revenue from operations of ₹11,980 lakhs and profit after tax of ₹1,543.27 Lakhs in FY26. The company’s outstanding order book was ₹18,327.88 Lakhs as of 30 September 2026 across 34 projects.
There are several risks associated with the business of Vectras Enprocon Limited, such as customer concentration risk, geographic risk, increased borrowings, and delays in project execution. The top 10 customers accounted for 92.27% of FY26 revenue, while total borrowings stood at ₹3,136.12 Lakhs as of September 2026.
Other Recent IPO List
Stay updated on upcoming IPOs in India and explore new investment opportunities.
| Antala Industries IPO | Carver Roboweld IPO |
| Ajwa Projects IPO | Wiscon Industries IPO |
| Bombay Coated & Special Steels IPO | M.K. Sons Fine Jewels IPO |
| BLS Polymers IPO | SFC Environmental Technologies IPO |
Vectras Enprocon IPO FAQs
Vectras Enprocon Limited is engaged in the oil and gas infrastructure business, offering engineering, procurement, and construction services for pipelines, stations, and related facilities. The offer starts on 30, October, 2026 and ends on 3, November, 2026.
Investors can apply for the IPO through their stockbroker or through any approved online IPO portal. Investors usually have the option to apply for the IPO through the ASBA route via banks.
Investors are required to evaluate the company themselves by considering the merits and demerits of the company’s financials, borrowings, customers, suppliers, and the purpose for raising funds via the IPO.
There is no guaranteed return from an IPO. Post-listing stock price may vary depending on market conditions, demand, performance, and trading activity. GMP is also unscheduled and can be revised even prior to listing.
Vectras Enprocon IPO is set to open on October 30, 2026. The closing date of the IPO is November 3, 2026, as per the available IPO schedule.
The number of shares in each lot is 1,200. The price band is ₹99-₹105, and the listing is on the BSE SME platform.
The allotment date is set for November 4, 2026. The next step will be the refund and allotment of shares in accordance with the final allotment.
The shares will be listed on November 6, 2026. The listing will be done on the BSE SME platform as per the IPO schedule.
