The initial public offering of Ravita Engineering Services Ltd. achieved 6.68 times subscription on its final day of bidding on October 16, 2026. According to latest NSE data, investors placed bids for 4.95 crore equity shares against 74.13 lakh shares on offer during the three-day bidding period, through 6,309 applications. The issue received bids for 9,28,800 shares on its opening day, followed by 4.95 crore shares on the final day. The IPO will tentatively list on the NSE Emerge platform on October 22, 2026. In the grey market, Ravita Engineering Services shares were trading at a premium of nearly 2%, though this grey market premium is unofficial and may fluctuate before listing.
The company has fixed the IPO price band at ₹105–112 per share. As reported by multiple sources, the minimum application lot comprises 1,200 shares. At the upper end of the price band, retail investors must apply for at least 2,400 shares, requiring a minimum investment of ₹2,68,800. For high-net-worth individual (HNI) investors, the minimum application size is three lots, or 3,600 shares, amounting to ₹4,03,200 at the upper price band. Vivro Financial Services Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar to the issue. The issue also includes a market maker reservation of 5,22,000 shares with Pace Stock Broking Services Pvt Ltd as the market maker.
As of June 30, 2026, Ravita Engineering reported an impressive order book of ₹491.12 crore across 21 projects, providing strong revenue visibility for future quarters. This substantial order book includes data centre work orders worth ₹120 crore, with the company securing projects in Maharashtra involving data centre infrastructure. The company's operations span onshore facilities, offshore rigs and platforms, and data centres, covering both project implementation and maintenance services. Chairman and Executive Director Vibhoar Agrawal stated that the investment would support order execution and strengthen delivery capabilities, including the company's data centre business, with funds planned for long-term working capital, purchasing heavy equipment and general corporate purposes.
According to The Economic Times, the company's revenue from operations increased significantly from ₹13.49 crore in FY24 to ₹277.63 crore in FY26. In FY26, its EBITDA stood at ₹40.05 crore, while PAT was ₹28.04 crore. The company reported an EBITDA margin of 14.43% and a PAT margin of 10.09% in FY26. For the quarter ended June 2026, revenue was ₹97.31 crore, with EBITDA and PAT margins of 14.42% and 10.40% respectively. The money raised from the IPO will be used for capital expenditure requirements towards the purchase of certain heavy equipment, long-term working capital needs and general corporate purposes. As of June 30, 2026, the company had 399 permanent employees, including 369 deployed at project sites.
Prior to the IPO, the company successfully raised ₹33.02 crore from anchor investors, including 360 One Prime, Finavenue, Navbharat, Kingsman Wealth Fund, New India Vision Fund and Smart Horizon Opportunity Fund, among others. The company expects that the listing of equity shares will enhance its visibility and brand image among existing and potential customers and create a public market for its equity shares. The allotment is expected to be finalised on October 19, 2026, while refund initiation and credit of shares to Demat accounts are scheduled for October 21, 2026. Of the total issue size, ₹70 crore will be used to meet long-term working capital requirements, while ₹25.5 crore will be allocated towards purchasing certain heavy equipment, with the remaining proceeds for general corporate purposes.
