Ravita Engineering Services IPO

The Ravita Engineering Services SME IPO runs from 13 Oct 2026 to 15 Oct 2026, offered at a price band of ₹105–112 per share, and is set to list on NSE. The company is looking to raise ₹116.05 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,68,800.

Issue structure

The IPO is structured entirely as a fresh issue of ₹110.21 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward to meet long-term working capital requirements of the company (₹70 crore), alongside funding capital expenditure requirements of our company towards purchase of certain heavy equipment (₹25.53 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Ravita Engineering Services reported revenue of ₹97.45 crore and a net profit of ₹10.13 crore. Revenue grew from ₹13.53 crore in FY2024 to ₹97.45 crore in FY2026 (+620.0%). Net worth stood at ₹109.69 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.9× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 10.42× post-issue earnings and 2.79× book value, against a return on net worth of 9.68% and a debt-to-equity ratio of 0.28. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Vibhoar Agrawal, Rachita Agrawal, Starwings Realtors Pvt.Ltd.</p>. Promoter holding stands at 73.74% before the issue and comes down to 53.46% after listing.

Grey market premium (GMP)

In the unofficial grey market, Ravita Engineering Services shares are quoted at a premium of ₹0 implying an expected listing around ₹112, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Ravita Engineering Services IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

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 (&ldquo;ETP&rdquo;) at Paradeep, Odisha.P&rdquo;) at Paradeep, Odisha.&nbsp; The company's business operations fall into three areas of expertise, namely, (i) Onshore; (ii) Offshore; and (iii) Data Centre. The company has&nbsp;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&amp;M services was ₹ 7,403.63 lakhs. &nbsp; Competitive Strength &nbsp;Comprehensive electro-mechanical engineering capabilities with separate EPIC and O&amp;M service offerings. Balanced revenue mix with short to medium tenor project execution cycle and multi-year O&amp;M contracts Long-standing relationships with large clients supporting repeat business. Management-driven domain expertise and industry relationships. Specialised operational experience in adverse environments and mission‑critical data centres. &nbsp;