Oval Projects Engineering IPO Subscription Status

The Oval Projects Engineering IPO opened with moderate investor interest on its first day of subscription (28th August 2025), getting subscribed 0.59 times till 5:00 PM.

• Qualified Institutional Buyers (QIBs): 2.88 times
• Non-Institutional Investors (NIIs): 0.31 times
• Retail Individual Investors (RIIs): 0.13 times

By the end of Day 1, the IPO received bids for 25,31,200 equity shares against the total issue size of 42,59,200 shares.

About Oval Projects Engineering Limited

Founded in 2013, Oval Projects Engineering Limited is a growing name in infrastructure development, especially in oil & gas, city gas distribution, energy, and urban development sectors.

The company provides a wide range of EPC and O&M solutions, including:

• Pipeline laying and construction (over 900 km completed so far)
• Processing plant development
• City Gas Station (CGS) and gas distribution projects
• Operation & Maintenance (O&M) services for power plants
• End-to-end turnkey EPC solutions across upstream, midstream, and downstream segments

With a presence in Tripura, Agartala, and other key regions across India, Oval Projects has developed long-term expertise in oil & gas infrastructure projects.

As of March 31, 2025, the company had a workforce of 123 employees, comprising skilled engineers, project managers, and technical staff.

Oval Projects Engineering Financial Performance

The company has shown consistent revenue and profit growth in the last two financial years:

• Revenue (FY 2025): ₹103.44 crore vs. ₹78.99 crore in FY 2024
• Profit (FY 2025): ₹9.33 crore vs. ₹4.40 crore in FY 2024
• Growth: Revenue increased by 31% YoY, while profit more than doubled (112%), reflecting operational efficiency and stronger project execution.

The company also improved its order book strength with multiple ongoing pipeline and EPC contracts in FY 2025.

Oval Projects Engineering IPO GMP

As of Thursday, 28th August 2025, the Grey Market Premium (GMP) stood at ₹8. This means the IPO shares are trading at approximately ₹93 per share in the grey market compared to the issue price of ₹85, signaling a 9.4% premium.