Vectras Enprocon Limited IPO Details
BSE - SMEListed
SMEGMP TodayLive
₹0(0.0%)
Est. Listing: ₹105
7-Day Trend
7 days ago: ₹0Latest: ₹0
Price Band₹99 - ₹105Lot: 1,200 Shares
Min Outlay₹1,18,800Retail Category
Closes On03 Nov 2026Bidding Deadline
Total Demand4.27xSubscription Book
Vectras Enprocon Limited IPO DetailsCore Specs
IPO Bidding Dates | 30 Oct 2026 to 03 Nov 2026 |
Allotment Date | 04 Nov 2026 |
Listing Date | 06 Nov 2026 |
Issue Price Band | ₹99 - ₹105 |
Market Lot Size | 1,200 Shares |
Face Value | ₹10 per share |
Total Issue Size | 50,52,000 Shares (₹53.05 Cr) |
Fresh Issue | 40,56,000 Shares (₹42.59 Cr) |
Offer For Sale (OFS) | 9,96,000 Shares (₹10.46 Cr) |
Listing Exchange(s) | BSE |
Pre-Issue Shares | 1,50,00,000 |
Post-Issue Shares | 1,90,56,000 |
Market Maker Portion | 2,53,200 Shares |
Lot(s) Distribution
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,52,000 |
| sHNI (Min) | 3 | 3,600 | ₹3,78,000 |
| bHNI (Min) | 8 | 9,600 | ₹10,08,000 |
Company Financials (In Crores)
| Period Ended | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Assets | 90.91 | 74.94 | 46.5 | 21.47 |
| Revenue | 72.2 | 119.9 | 80.53 | 54.37 |
| Net Worth | 46.85 | 37.75 | 22.32 | 12.15 |
| Borrowing | 31.36 | 22.21 | 11.87 | 4.16 |
| PAT | 9.1 | 15.43 | 10.17 | 5.81 |
| Reserves | 31.85 | 22.75 | 19.82 | 9.65 |
Key Performance Indicators (KPI)
| Metric | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| ROCE (%) | 19.69 | 48.37 | 56.09 | 79.27 |
| RONW (%) | - | - | - | - |
| EPS (₹) | 6.07 | 10.29 | 6.78 | 4.17 |
| P/E Ratio | 10.99 | 10.20 | - | - |
About Vectras Enprocon Limited
Vectras Enprocon Limited is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating in the midstream and downstream segments of the oil and gas industry. The company specialises in developing pipeline networks, combined oil and gas stations and related infrastructure across multiple Indian states. Its business operations include mechanical, electrical and civil works for refineries, petrochemical complexes, gas processing units, oil and gas terminals and petroleum depots. As of August 31, 2025, its unexecuted order book for oil and gas station projects stood at ₹15,088.80 lakh, while its order book for oil and gas pipeline projects amounted to ₹18,327.88 lakh as of September 30, 2026. The company also undertakes allied civil and infrastructure projects, along with electrical, instrumentation, inspection, testing and safety auditing services for the oil and gas sector. Its capabilities cover the complete project lifecycle, including design, engineering, procurement, construction, testing and commissioning of pipelines and stations. The company has completed more than 3,34,000 inch-diameter piping works, 785 inch-kilometres of pipelines and four combined station projects. It serves both public-sector and private-sector oil and gas companies and maintains ISO certifications covering quality, safety, environmental management and instrumentation standards. As of September 30, 2026, Vectras Enprocon Limited had 990 employees across its various divisions.
Strengths & Growth Drivers
- Timely Completion of Complex Projects: The Company has a track record of completing projects ahead of schedule through standardized processes, quick mobilisation and efficient resource allocation. Some projects were completed 160 days and 62 days ahead of schedule during the last three financial years.
- Strong Order Book and Geographic Reach: As of September 30, 2026, the Company had an unexecuted order book of 34 projects worth ₹18,327.88 lakhs, with a book-to-bill ratio of 2.55 times. It has also expanded beyond Gujarat into states such as Maharashtra, Punjab, Bihar and Odisha.
- Strong Execution Capabilities: The Company has in-house capabilities across design, operations, finance and human resources, supported by over 900 permanent employees as of September 30, 2026. These capabilities support efficient and quality-focused project execution.
Risk Factors
- Sustainability of Growth: Revenue increased from ₹5,431.89 lakhs in FY2024 to ₹11,980.20 lakhs in FY2026, achieving a CAGR of 48.51%, while PAT grew at a CAGR of 62.95%. However, there is no assurance that this growth will continue, which could adversely affect the Company’s business and financial condition.
- Significant Working Capital Requirements: The Company’s EPC business requires substantial working capital, with short-term borrowings of ₹2,648.38 lakhs as of September 30, 2026. Difficulty in meeting working capital needs or arranging timely and cost-effective financing could negatively affect operations and profitability.
- Customer Concentration Risk: The top 10 customers contributed 97.29%, 92.27%, 96.04% and 97.84% of revenue from operations during the stub period and FY2026, FY2025 and FY2024, respectively. Losing key customers could materially affect the Company’s revenue and cash flows.
Company Promoters
- Naynesh Kanubhai Patel
- Maheshkumar Gopalbhai Patel
Lead Manager(s)
Beeline Capital Advisors Private Limited
Current GMP Today+₹0Live Unofficial Premium
Estimated Listing Price₹126000.00Cap Price (₹126000) + GMP (₹0)
Estimated Listing Gain+0.0%Expected ROI per Share
Vectras Enprocon Limited Daily GMP Trend HistoryLive Daily Trend
| GMP Date | IPO Price | GMP (₹) | Est. Listing Price | Expected Gain (%) | Last Updated |
|---|---|---|---|---|---|
| 04 Nov 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:30 PM |
| 03 Nov 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:30 PM |
| 02 Nov 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:48 PM |
| 01 Nov 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:48 PM |
| 31 Oct 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 01:22 PM |
| 30 Oct 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:30 PM |
| 29 Oct 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:30 PM |
| 28 Oct 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 04:30 AM |
| 27 Oct 2026 | ₹105 | ₹0 | ₹105.00 | 0.0% | 06:05 AM |
Subscription Details (No. of Shares)Live Demand Book
| Category | Shares Offered | Shares Applied | Subscription Demand |
|---|---|---|---|
| QIB | 9,60,000 | 18,06,000 | 0x |
| NIB | 7,20,000 | 50,66,400 | 0x |
| RETAIL | 16,80,000 | 74,83,200 | 0x |
| HNIs(10L +) | 4,80,000 | 38,44,800 | 0x |
| HNIs (2-10L) | 2,40,000 | 12,21,600 | 0x |
Day Wise Subscription Details
| Day | Date | QIB (x) | NII (x) | Retail (x) | Total (x) |
|---|---|---|---|---|---|
| Day 1 | - | 0x | 0x | 0x | 0x |
| Day 2 | - | 0x | 0x | 0x | 0x |
| Day 3 | - | 0x | 0x | 0x | 0x |
IPO Reservation Breakup
| Investor Category | Shares Offered | Allocation (%) |
|---|---|---|
| Anchor | 14,38,800 | 28.48% |
| QIB | 9,60,000 | 19% |
| HNI | 7,20,000 | 14.25% |
| RETAIL | 16,80,000 | 33.25% |
| Market Maker | 2,53,200 | 5.01% |
Official IPO Documents & Filings
Red Herring Prospectus (RHP)
Complete issue guidelines, risks, financials, and company profile.
Draft Red Herring (DRHP)
Initial draft submitted to SEBI before price discovery.
Vectras Enprocon Limited IPO Review & FAQ
Everything you need to know about IPO GMP, Kostak, and listing expectations.
As of today, Vectras Enprocon Limited IPO Grey Market Premium (GMP) is trading at ₹0 per share. With an issue cap price of ₹105, the expected listing price is ₹105 (0.0% gain).
UPCOMING30 OCT
OPEN30 OCT
CLOSE03 NOV
LISTED06 NOV
Quick NavigationAuto-Synced
Issue Key Information
Allotment StatusPrice Band₹99 - ₹105
Issue Cap Price₹105
Market Lot Size1,200 Shares
Min Retail Outlay₹1,18,800
Total Issue Size₹53.05 Cr
Listing ExchangesBSE
RegistrarLink Intime India Private Limited
IPO Lot & Return Calculator
1 Lot(s)
Total Shares Applied:1200 shares
Required Investment (At Cap):₹1,26,000
Expected Listing Gain (@ GMP):₹0
Estimated Portfolio Value:₹1,26,000