Oval Projects Engineering Limited IPO

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Business Operations

Oval Projects Engineering specializes in infrastructure services, with a strong presence in the Oil & Gas sector. It derives its revenues from three main business verticals:

a) Upstream, midstream, and downstream oil & gas facilities: Processing plants, Pipeline laying, Horizontal directional drilling, Terminal stations, City Gas Distribution (CGD) projects, O&M of PNG/PNG networks

b) Captive Power Plant O&M Services
c) Urban Development & Civil Projects: Smart city initiatives and Urban infrastructure projects, some funded by international financing organizations.

Client Base

The company primarily serves public sector players in Oil & Gas and Central & State Government entities, including projects funded by international development agencies such as the World Bank and other global financiers.

Geographical Presence

 It is Active presence across 10+ states in India, with deep penetration in the North-East. Company has proven ability to expand operations strategically into regions with demand for EPC and flowline infrastructure. There also have strong supplier network across the country ensures seamless project execution.

Project Execution & Order Book

– 50+ projects executed in oil & gas and special infrastructure sectors, valued at approximately ₹20,362.74 lakhs.

– As of April 09, 2025, the company has 30+ ongoing projects worth around ₹45,299.61 lakhs, reflecting a robust order book.

– Capabilities to handle large, complex, and simultaneous projects with efficiency.

Competitive Strengths

i) Strong Project Execution Capabilities – In-house teams and efficient cost management ensure timely, cost-effective project delivery.

ii) Experienced Promoter and Leadership – Led by Goutam Debnath and a skilled management team, backed by independent directors for strategic depth.

iii) Optimal Resource Utilization – Continuous modernization, process improvements, and procurement efficiency maximize resource use.

iv) Robust Order Book Ensuring Growth – A ₹45,299.61 lakh order book with diversified, high-margin projects drives sustainable future growth.

Objects of the Oval Projects Engineering Limited IPO:

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: 1. Utilization towards long-term working capital requirements (₹37.03 cr) 2. General Corporate Purposes

Oval Projects Engineering Limited IPO Details:

Open Date: Aug 28 2025
Close Date: Sep 01 2025
Total Shares: 54,99,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 46.74 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 80-85 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Goutam Debnath, 45, is the Chairman and Managing Director of the Company and has been on the Board since 2014. He holds a diploma and bachelor’s degree in Mechanical Engineering. He earlier worked with KSS Petron Pvt. Ltd. and Shiv-Vani Oil & Gas Exploration Services Ltd. He has about 15 years of experience in the oil & gas EPC sector. He also serves as a director in Oval Digital Pvt. Ltd. and Bluekingdom Projects Pvt. Ltd. 2. Himangshu Mahawar, 35, is a Non-Executive, Non-Independent Director, associated with the Company since 2019 after initially serving as a consultant. He holds a B.Tech in Mechanical & Automation Engineering and a PGDM in Marketing. He has worked with National Payments Corporation of India and brings about 9 years of experience in project and business development. 3. Khitish Kumar Nayak, 58, is a Non-Executive Independent Director, on the Board since 2024. He is a Mechanical Engineering graduate and has held senior roles including Head of HSE at Cairn Oil & Gas (Vedanta Ltd.) and CEO of Kiri Group. He currently holds multiple directorships and was nominated for the Padmashri Award (2023) for his social contributions. He has around 8 years of board-level experience.

Financials of Oval Projects Engineering Limited IPO:

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Oval Projects Engineering Limited IPO:

  1. SMC Capitals Limited

Registrar of Oval Projects Engineering Limited IPO:

  1. MAS Services limted

Discussion on Oval Projects Engineering Limited IPO:

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