RAVITA ENGINEERING SERVICES IPO
RAVITA ENGINEERING SERVICES is a SME IPO with a current status of UPCOMING. The price band is 105 - 112. The issue opens on 13 OCT and closes on 15 OCT. The listing date is 21 OCT.
Price Band
105 - 112
Unofficial GMP
₹0
Lot Size
1,200 shares
Minimum Investment
₹2,68,800
RAVITA ENGINEERING SERVICES IPO GMP
The latest available GMP is ₹0. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹112.00
Estimated Gain
0.0%
RAVITA ENGINEERING SERVICES IPO GMP History
0
08 OCT
RAVITA ENGINEERING SERVICES IPO Details
- IPO Type
- SME
- Status
- UPCOMING
- Price Band
- 105 - 112
- Issue Size
- ₹116.05 Cr
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹110.21 Cr
- Face Value
- 5
- Lot Size
- 1,200
- Minimum Investment
- 2,68,800
- Exchange
- NSE SME
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead Managers
- Vivro Financial Services Pvt.Ltd.
- Market Maker
- ₹5.85 Cr
RAVITA ENGINEERING SERVICES IPO Dates
- Open Date
- 13 OCT
- Close Date
- 15 OCT
- Allotment Date
- 16 OCT
- Refund Date
- 19 OCT
- Demat Credit Date
- 19 OCT
- Listing Date
- 21 OCT
RAVITA ENGINEERING SERVICES IPO Subscription
- QIB
- --
- NII / HNI
- --
- Retail
- --
- Employee
- --
- Total Subscription
- --
RAVITA ENGINEERING SERVICES IPO Valuation
- Market Cap (Post IPO)
- ₹422.02 Cr.
- EPS
- 10.26
- P/E Ratio
- 10.92
- Price to Book Value
- 2.79
- ROE
- 9.68%
- ROCE
- 10.60%
- RONW
- 9.68%
- Debt / Equity
- 0.28%
- PAT Margin
- 10.40%
- EBITDA Margin
- 14.42%
RAVITA ENGINEERING SERVICES IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,68,800 |
| Retail Maximum | 2 | 2,400 | ₹2,68,800 |
| Small HNI | 3 | 3,600 | ₹4,03,200 |
| Big HNI | 8 | 9,600 | ₹10,75,200 |
RAVITA ENGINEERING SERVICES IPO Reservation
- QIB
- 50 %
- NII / HNI
- 15.00%
- Retail
- 35.00%
RAVITA ENGINEERING SERVICES Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 73.74%
- Post-IPO Promoter Holding
- 53.46%
RAVITA ENGINEERING SERVICES Company Overview
1. Ravita Engineering Services Limited is an integrated engineering solutions company. 2. The company is primarily engaged in Engineering, Procurement, Installation and Commissioning (EPIC) of HVAC and electro-mechanical systems. 3. It also provides Operations & Maintenance (O&M) services for electro-mechanical and HVAC systems. 4. The company operates across three major areas — Onshore, Offshore and Data Centres. 5. Its onshore business serves commercial establishments, hospitality projects, corporate parks, industrial facilities and infrastructure projects. 6. Its offshore business provides engineering and maintenance solutions for rigs, platforms and other marine installations, particularly in the oil and gas sector. 7. In the Data Centre segment, the company provides cooling-system, chiller-plant, HVAC and mechanical-utility O&M services. 8. The company follows an integrated project-execution model covering design, engineering, procurement, installation, testing and commissioning. 9. Its O&M contracts generally provide recurring revenue over multiple years. 10. As of December 31, 2025, the company had an order book of approximately ₹479.66 crore. 11. The order book comprised approximately ₹225.27 crore of EPIC projects, ₹105.34 crore of O&M projects and ₹149.05 crore of hybrid projects. 12. The company had 402 employees as of December 31, 2025, including 381 engineering and technical personnel. 13. FY26 revenue was approximately ₹277.8 crore and PAT approximately ₹28.0 crore.
RAVITA ENGINEERING SERVICES Business Model
1. HVAC Engineering: Design, procurement, installation and commissioning of HVAC systems. 2. Electro-Mechanical Systems: Provides integrated electro-mechanical engineering solutions for infrastructure and industrial projects. 3. EPIC Projects: Executes Engineering, Procurement, Installation and Commissioning contracts. 4. Onshore Operations: Serves commercial buildings, hotels, corporate parks, industrial facilities and infrastructure projects. 5. Offshore Operations: Provides engineering and maintenance services for offshore rigs, platforms and marine installations. 6. Data Centre Services: Provides O&M services for cooling systems, chillers, HVAC equipment and mechanical utilities. 7. Operations & Maintenance: Multi-year O&M contracts provide recurring service revenue after project completion. 8. Hybrid Projects: Combines engineering/project execution with maintenance and operational services. 9. Project Execution: Handles activities from design and engineering through procurement, installation, testing and commissioning. 10. Technical Workforce: A large engineering and technical workforce supports project execution across multiple locations. 11. Client Relationships: The company has established relationships with large customers and has received repeat EPIC and O&M opportunities. 12. Project Duration: EPIC projects generally have execution periods of approximately 6–14 months, while O&M contracts can continue for multiple years.
RAVITA ENGINEERING SERVICES Objects of the Issue
1. Long-Term Working Capital: ₹66.00 crore will be used to meet the company's long-term working-capital requirements. 2. Purchase of Heavy Equipment: ₹25.09 crore will be utilised for capital expenditure towards the purchase of heavy equipment. 3. General Corporate Purposes: ₹24.96 crore will be utilised for general corporate purposes. 4. Total Fresh Issue: The IPO comprises a fresh issue of approximately ₹116.05 crore. 5. No OFS: The current issue is entirely a fresh issue, with the proceeds going to the company. 6. Working-Capital Support: The working-capital component is intended to support the company's growing project execution requirements and operating cycle. 7. Equipment Expansion: Investment in heavy equipment is expected to support execution capabilities across the company's engineering projects.
RAVITA ENGINEERING SERVICES Strengths
1. Integrated Engineering Capabilities: The company provides end-to-end EPIC and O&M solutions for HVAC and electro-mechanical systems. 2. Diversified Operating Environments: Presence across onshore, offshore and data-centre projects provides exposure to multiple end markets. 3. Strong Order Book: The company had an order book of approximately ₹479.66 crore as of December 31, 2025. 4. Recurring O&M Revenue: Multi-year O&M contracts can provide recurring revenue after completion of EPIC projects. 5. Technical Workforce: 381 of the company's 402 employees were engineering and technical personnel as of December 31, 2025. 6. Established Client Relationships: Long-standing relationships with major customers support repeat business opportunities. 7. Specialised Expertise: Experience in offshore environments and mission-critical data-centre cooling systems provides specialised capabilities. 8. Profitability: FY26 revenue was approximately ₹277.8 crore with PAT of approximately ₹28.0 crore. 9. Large Project Capability: The company has experience executing large-scale engineering and electro-mechanical projects. 10. Hybrid Business Model: Combination of EPIC projects and O&M services provides both project-based and recurring revenue streams. 11. Geographic Presence: Operations across western India, offshore locations and other project sites support multi-location execution. 12. IPO Capital Support: A significant portion of IPO proceeds will strengthen working capital and add heavy equipment.
RAVITA ENGINEERING SERVICES Risks
1. Customer Concentration: A significant portion of revenue comes from a limited number of customers. The top five customers contributed approximately 81.48% of revenue during the nine months ended December 2025. 2. Largest Customer Dependence: The largest customer contributed approximately 33.51% of revenue during the same period. 3. Negative Operating Cash Flow: The company reported operating cash outflows of approximately ₹9.13 crore in FY25 and ₹43.78 crore during the nine months ended December 2025. 4. Working-Capital Risk: Large engineering projects can require substantial funds before customer payments are received. 5. Competitive Bidding: A significant part of the business depends on winning contracts through competitive bidding. 6. Project Execution Risk: Delays, cost overruns, penalties or execution problems can adversely affect project profitability. 7. Geographic Concentration: Maharashtra and projects in India's territorial waters accounted for approximately 65.81% of revenue during the nine months ended December 2025. 8. Contract Labour Dependence: Dependence on contract labour can create risks relating to availability, labour costs and project execution. 9. OEM Dependence: Dependence on equipment manufacturers and suppliers can result in procurement delays or cost increases. 10. Offshore Risk: Offshore projects are exposed to weather, marine conditions, safety requirements and operational disruptions. 11. Data Centre Execution Risk: Data centres require highly reliable cooling and electro-mechanical systems, making service failures potentially significant. 12. Promoter-Group Disclosures: The latest IPO disclosures contain matters relating to certain promoter-group entities and regulatory proceedings that investors should review carefully. 13. SME Liquidity Risk: The proposed NSE SME listing may involve lower liquidity and greater price volatility than mainboard-listed companies. 14. Order-Book Conversion Risk: A large order book does not guarantee that all projects will be executed on schedule or at the expected margins.
RAVITA ENGINEERING SERVICES Frequently Asked Questions
What is the RAVITA ENGINEERING SERVICES IPO price band?
The RAVITA ENGINEERING SERVICES IPO price band is 105 - 112.
What is the latest RAVITA ENGINEERING SERVICES IPO GMP?
The latest available RAVITA ENGINEERING SERVICES IPO GMP in the IPOWEB database is ₹0. GMP is unofficial and does not guarantee a listing gain.
When does the RAVITA ENGINEERING SERVICES IPO open and close?
The RAVITA ENGINEERING SERVICES IPO opens on 13 OCT and closes on 15 OCT.
When is the RAVITA ENGINEERING SERVICES IPO allotment date?
The RAVITA ENGINEERING SERVICES IPO allotment date is 16 OCT.
When is the RAVITA ENGINEERING SERVICES IPO listing date?
The RAVITA ENGINEERING SERVICES IPO listing date is 21 OCT.