BSE SME Oval Projects Engineering makes a soft landing on Dalal Street runway

Shares of Oval Projects Engineering was trading at Rs 85.25 on the BSE, a premium of 0.29% compared with the issue price of Rs 85.

The scrip was listed at Rs 85.25, a premium of 0.29% compared with the initial public offer (IPO) price. The stock is currently at par with its listing price.

The counter hit a high of Rs 86 and a low of Rs 85.25. About 20.37 lakh shares of the company changed hands at the counter.

Oval Projects Engineering's IPO was subscribed 1.57 times. The issue opened for bidding on 28 August 2025 and it closed on 01 September 2025. The price band of the IPO was fixed between Rs 80 to Rs 85 per share.

The IPO comprised fresh issue of 54,99,200 equity shares. The company intends to utilize the net proceeds for utilization towards long-term working capital requirements of the company and general corporate purposes.

Ahead of the IPO, Oval Projects Engineering on 26 August 2025, raised Rs 7.95 crore from anchor investors. The board allotted 9.36 lakh shares at Rs 85 each to six anchor investors.

Oval Projects Engineering is primarily an infrastructure services company engaged in providing engineering, procurement, and construction (EPC) industrial infrastructure services, as well as operations and maintenance (O&M) services to its PAN India customers, especially in the Oil & Gas sector. The company focuses on upstream, midstream, and downstream facility development activities in the Oil and Gas sector, such as processing plants, pipeline laying, horizontal directional drilling, terminal stations, City Gas Distribution (CGD) work, and O&M of PNG/PNG services, along with other related EPC projects. It also provides O&M services for captive power plants. As on 31 March 2025, the company had 123 employees.

The company recorded revenue from operations of Rs 102.29 crore and net profit of Rs 9.33 crore for the period ended 31 March 2025.

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