Vans Electroengineerings IPO
Updated 24 Sept 2026, 6:50 pm.
Minimum investment (Individual investors (IND))
₹2,83,200
2 lots · 2,400 shares at the upper price band
Price band
₹112–118
Latest GMP
₹0
0.0% of the ₹118 upper band
Est. listing price
₹118
Issue size
₹32.26 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 24 Sept 2026, 6:50 pm | ₹0 | ₹118 |
| 24 Sept 2026, 6:45 pm | ₹0 | ₹118 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹112–118
- Issue size
- ₹32.26 Cr
- Lot size
- 1,200
- Opens
- 29 Sept 2026
- Closes
- 1 Oct 2026
- Allotment
- 5 Oct 2026
- Listing
- 7 Oct 2026
- Est. listing price
- ₹118
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Bigshare Services Pvt.Ltd.
- Minimum investment
- ₹2,83,200 (2 lots · 2,400 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 6 Oct 2026
- Shares credited
- 6 Oct 2026
- Promoter holding
- 90.75% before · 66.73% after
- Lead managers
- Hem Securities Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 24 Sept 2026, 2:05 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 29 Sep to 1 Oct, 2026 |
|---|---|
| Listing Date | Wed, Oct 7, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹112 to ₹118 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 28,80,000 shares (agg. up to ₹ 34 Cr) |
|---|---|
| Reserved for Market Maker | 1,46,400 shares (agg. up to ₹ 2 Cr) |
| Fresh Issue (Ex Market Maker) | 27,33,600 shares (agg. up to ₹ 32 Cr) |
| Net Offered to Public | 27,33,600 shares (agg. up to ₹ 32 Cr) |
| Share Holding Pre Issue | 80,00,000 shares |
| Share Holding Post Issue | 1,08,80,000 shares |
IPO Timetable (Tentative)
- IPO Open
- Tue, Sep 29, 2026
- IPO Close
- Thu, Oct 1, 2026
- Allotment
- Mon, Oct 5, 2026
- Refund
- Tue, Oct 6, 2026
- Credit of Shares
- Tue, Oct 6, 2026
- Listing
- Wed, Oct 7, 2026
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,83,200 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9600 | ₹11,32,800 |
| Employee (Min) | 2 | 2,400 | ₹2,83,200 |
| Employee (Max) | 3 | 3,600 | ₹4,24,800 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
IPO Subscription Details
Investor Category Reservations
| Application Category | Bidding Limits |
|---|---|
| Only Individual investor (retail) | 2 lots |
| Only sNII | 3 lots - 7 lots |
| Only bNII | 8 lots and above |
| Only employee | 2 lots - 3 lots |
| Employee + RII/NII | 1. Employee limit: 2 lots - 3 lots AND 2. If applying as RII: 2 lots OR 2. If applying as sNII: 3 lots - 7 lots OR 2. If applying as bNII: 8 lots and above |
* Bidding at cut-off price is not allowed for any category
About Vans Electroengineerings Ltd.
Incorporated in February 2022, VANS Electroengineerings Limited is an ISO 9001:2015 certified company engaged in the manufacturing and supply of traction power supply and overhead equipment system components used in Indian railway electrification, metro systems, and renewable energy infrastructure. The company specializes in manufacturing Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs), including single-pole and double-pole variants, which are supplied primarily to Indian Railways and railway electrification contractors.
The company operates a manufacturing facility in Salem, Tamil Nadu, equipped with advanced manufacturing, in-house testing, and quality control infrastructure. Its products are approved by the Research Designs and Standards Organization (RDSO) and comply with international standards through testing conducted by institutions such as KERI (South Korea) and CPRI (Bengaluru). Supported by experienced promoters and a technically qualified management team, the company focuses on engineering excellence, product quality, and timely delivery.
As of May 31, 2026, VANS Electroengineerings employed 28 personnel across manufacturing, product development, quality control, finance, administration, and procurement functions.
Key Strengths
Specialized manufacturer of railway electrification and traction power equipment.
RDSO-approved products with strong quality assurance and international testing standards.
Integrated engineering, manufacturing, assembly, and in-house testing capabilities.
Established customer base in Indian Railways and railway infrastructure sector.
Experienced promoters with expertise in electrical engineering and railway infrastructure.
Company Financials (Restated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 16.85 | 5.34 | 6.57 |
| Total Income | 23.19 | 13.82 | 2.76 |
| Profit After Tax | 5.39 | 1.73 | 0.02 |
| EBITDA | 7.23 | 2.48 | 0.02 |
| NET Worth | 9.17 | 3.78 | 1.05 |
| Reserves and Surplus | 7.17 | 1.78 | 0.05 |
| Total Borrowing | 2.55 | 1.20 | 5.17 |
| Amount in ₹ Crore |
Vans Electroengineerings Ltd.'s revenue increased by 68% and profit after tax (PAT) rose by 212% between the financial year ending with March 31, 2026 and March 31, 2025.
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Meet Working Capital Requirements of the Company | 25.00 |
| 2 | General Corporate Purpose | — |
| Total | 25.00 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 83.27% |
| ROCE | 63.96% |
| Debt/Equity | 0.28 |
| RoNW | 58.79% |
| PAT Margin | 23.61% |
| EBITDA Margin | 31.63% |
| NAV | 11.46 |
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 6.74 | 4.96 |
| Market Cap at Offer Price | - | ₹128.38 Cr |
Shareholding Structure
Pre IPO
- Promoter and Promoter Group90.75%
- Public9.25%
Post IPO
- Promoter and Promoter Group66.73%
- Public33.27%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 90.75% | 66.73% |
| Public | 9.25% | 33.27% |
| Total | 100% | 100% |
Company Promoters: Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal and Hotspot Infodot Pvt.Ltd..
Vans Electroengineerings IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Bigshare Services Pvt.Ltd.
8657578989/8069219065/8069219060
ipo@bigshareonline.com
IPO Lead Manager(s)
Hem Securities Ltd.
Contact Details
Vans Electroengineerings Ltd. Address
Plot 17
SIDCO Women's Industrial Estate
Karuppur
Salem, Tamil Nadu , 636011
9677114470
cs@vanselectroengineerings.com
Vans Electroengineerings IPO in the news
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Vans Electroengineerings: common questions
Answered from this issue's own record.
