Delhi-based material handling equipment provider Watrana Rentals has fixed the price band at ₹232-245 per share for its upcoming initial public offering. According to reports from Moneycontrol, the IPO will open for public subscription on November 19 and close on November 23, while the anchor book for institutional investors will open for one day on November 18. The company aims to raise ₹120.1 crore through its maiden public issue at the upper end of the price band. The IPO is structured as a book-built issue with a lot size of 600 shares, requiring a minimum investment of ₹2,94,000 for 1,200 shares. Maashitla Securities Pvt. Ltd. serves as the registrar, while Oneview Corporate Advisors Pvt. Ltd. acts as the book running lead manager.
The IPO comprises an entirely fresh issue of 49.02 lakh shares, as reported by Moneycontrol. The company caters to various industries, including automotive, tyres, beverages, glass, paper, logistics and warehousing. The IPO share allotment is expected to be finalised by November 25, while Watrana Rentals is likely to make its market debut on the NSE SME platform on November 27. The issue is priced at ₹232-245 per share with no grey market premium currently available. Investors can bid for a minimum of 1,200 shares (₹2,94,000) and in multiples thereof, with no upper limit specified.
According to Moneycontrol, Watrana Rentals plans to utilise ₹98.12 crore of the IPO proceeds to purchase material handling equipment, aerial work platforms and batteries. The remaining proceeds will be used for general corporate purposes and offer-related expenses. Oneview Corporate Advisors has been appointed as the merchant banker managing the Watrana Rentals IPO.
As reported by Moneycontrol, Watrana Rentals reported a profit of ₹7.68 crore and revenue from operations of ₹53.5 crore for the three months ended June 2026. The company's financial performance has also remained healthy in recent years. For the financial year ended March 2026, its profit increased 19.3 percent to ₹29.2 crore, while revenue grew 17.8 percent to ₹211.4 crore compared with the previous financial year. As of June 30, 2026, the company's assets stood at ₹301.71 crore with net worth of ₹93.24 crore.
Watrana Rentals, incorporated on November 19, 2019, specializes in renting material and cargo handling equipment. As of June 30, 2026, the company operated a fleet of 2,646 MHE units and 33 AWP units, along with five MHE units and two AWP units rented from third parties. The company employs 3,883 people across various departments including strategy, administration, finance, operations, procurement, and safety services. The business operates through rental solutions for MHEs, trading in MHEs, and trading in batteries for MHEs, serving industries such as automotive, tyres, beverages, glass, paper, logistics and warehousing.
