Oval Projects Engineering IPO Subscription Status

The Oval Projects Engineering IPO received moderate interest on the second day of bidding, being subscribed 0.68 times as of 5:00 PM on August 29, 2025.

• QIB (Qualified Institutional Buyers): 2.88x
• NII (Non-Institutional Investors): 0.29x
• RII (Retail Individual Investors): 0.31x

The company received bids for 29,05,600 equity shares against the total issue size of 42,59,200 shares.

Day-wise subscription status:

• Day 1: 0.59x
• Day 2: 0.68x

While QIB participation has been strong, demand from retail and non-institutional investors has remained relatively low so far.

About Oval Projects Engineering Limited

Incorporated in 2013, Oval Projects Engineering Limited is a fast-growing infrastructure development company engaged in Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India.

Key Services:

• Pipeline laying and installation (upstream, midstream, and downstream projects)
• Processing plants and City Gate Station (CGS) works
• Operation & Maintenance (O&M) services for power plants
• Turnkey EPC (Engineering, Procurement, and Construction) solutions

Business Presence and Achievements:

• Successfully executed over 900 km of pipeline installations across India.
• Strong operational presence in Agartala, Tripura, and other regions.
• Actively engaged in multiple Oil & Gas and Power sector projects.
• Workforce strength of 123 employees as of March 31, 2025.

With a decade of experience, the company has built a reputation for delivering reliable EPC solutions, especially in energy infrastructure.

Financial Performance (₹ in Crores)

• Revenue grew by 31% YoY, driven by strong execution in pipeline and EPC projects.
• Net profit more than doubled, reflecting operational efficiency and better margins.

Oval Projects Engineering IPO GMP

As of Friday, August 29, 2025, the Grey Market Premium (GMP) for the IPO was ₹4.

• Issue Price: ₹85
• GMP: ₹4
• Estimated Listing Price: ₹89 (₹85 + ₹4)

This indicates a 4.7% premium in the grey market, suggesting cautious optimism among investors ahead of listing.