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₹118 - 118 Amounts at the upper price band.
Vans Electroengineerings Ltd
EngineeringIPOSME
₹118 - 118
We are an ISO 9001:2015 certified company, engaged in the business of manufacturing and supplying components of traction power supply and overhead equipment system used in Indian railway electrification infrastructure and metro systems along with renewable energy systems. The aforementioned equipment is mainly supplied to Indian Railways and railway contractors.
Lot1,200Min Invest₹2,83,200Face Value₹10Issue Size₹34 CrFresh Issue₹34 CrListing Price₹224CMP₹348
Timeline
29 Sept
Bidding opens
1 Oct
Bidding closes
5 Oct
Allotment
6 Oct
Refund & demat credit
7 Oct
Listing
Subscription · As of 7:59 PM, 1 Oct
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB281.6x12.73 L35.86 Cr4,231.98NII757.3x3.83 L28.98 Cr3,419.71Retail686.3x8.93 L61.28 Cr7,231.20Total584.4x28.80 L168.32 Cr18,854.03
Reports
Offer Details
Terms
Issue Size₹34 Cr0.29 Cr shares
Fresh Issue₹34 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.96% · NII 15.01% · RETAIL 35.03%
Application Sizes
Retail₹2,83,2001-1 lots
sNII₹2,83,200from 2 lots
bNII₹11,32,800from 8 lots
Managers & Registrar
Lead ManagerHEM Securities Limited
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group90.76%66.72%Public9.24%33.28%
Objects of the Issue
- To Meet Working Capital Requirements of the Company
- General Corporate Purpose
Anchor Book
Bid Date28-Sep-2026Bid Price₹118Shares8,04,000Amount₹9 Cr30-day lock-in03-Nov-202690-day lock-in02-Jan-2027
Financials
Profit & Loss
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| RevenueCr | 3 | 14 | 23 |
| Operating ProfitCr | 0 | 2 | 7 |
| OPM% | 0.9 | 18.3 | 31.6 |
| PBTCr | 0 | 2 | 7 |
| PATCr | 0 | 2 | 5 |
| EPS | 0 | 4 | 7 |
Balance Sheet
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity CapitalCr | 1 | 2 | 2 |
| ReservesCr | 0 | 2 | 7 |
| BorrowingsCr | 5 | 1 | 3 |
| Total AssetsCr | 7 | 5 | 17 |
Cash Flow
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Operating Cash FlowCr | -3 | 6 | -3 |
| Investing Cash FlowCr | 0 | 0 | 0 |
| Financing Cash FlowCr | 2 | -3 | 1 |
| Net Cash FlowCr | 0 | 2 | -2 |
Strengths & Risks
Strengths · as stated in the DRHP
- Niche Market Focus with Quality and Timely Delivery.
- Quality Assurance Standards and RDSO Approved Entity.
- Core Engineering and Integrated Engineering, Assembling and Testing Capabilities.
- Established Customer Base and Geographical Footprint.
- Experienced and Qualified Promoters.
Strategies · as stated in the DRHP
- Capitalize growing demand in Railway infrastructure sector.
- Investing in Advanced R&D Capabilities.
- Product Portfolio Diversification and Optimization.
- Consistent Adherence to Quality Standards.
Risks · as stated in the DRHP
- Our business and revenue are substantially dependent on the Indian Railways. Any adverse change in policy of the Indian Railways may lead to our contracts being foreclosed, terminated, restructured or renegotiated, which may have a material effect on our business and results of operations.
- We derive a significant portion of our revenue from the sale of our two-key product verticals i.e. Vacuum Circuit Breakers and Vacuum Interrupters. Any decline in the sales of our key product/s could have an adverse impact on our business, results of operations and financial condition.
- A significant portion of our revenue from operations is derived from a limited number of customers and our inability to maintain existing customer relationships or secure repeat business may adversely affect our business and results of operations.
- We are contractually and commercially subject to stringent quality, performance and delivery obligations and any failure to comply with such obligations may expose us to claims, penalties, cancellation of orders and reputational harm.
- We depend on the timely availability of raw materials and components from suppliers, and any disruption in supply, increase in prices or inability to procure such materials may adversely affect our business.
- We operate our manufacturing facility and registered office from rented and leased premises and any termination, non-renewal or disruption in our lease arrangements may adversely affect our business operations.