Ravita Engineering Services IPO GMP Today

The issue

Ravita Engineering Services Limited is an engineering solutions provider engaged in the turnkey engineering, procurement, installation, and commissioning (EPIC) as well as operations and maintenance (O&M) of HVAC systems and electro-mechanical equipment across India. The company serves onshore commercial and industrial facilities, data centres, and offshore oil and gas rigs and platforms, primarily across Maharashtra, Gujarat, Odisha, and Indian territorial waters. As of June 30, 2026, it maintained an order book of approximately ₹491.12 crore across 21 ongoing projects.

Ravita Engineering Services Limited is a SME issue on NSE. The price band is ₹105–₹112. One lot is 1,200 shares, and the smallest application is 2 lots (2,400 shares, ₹2,68,800 at the top of the band). The issue size is ₹116.05 crore.

The public issue is entirely a fresh issue of ₹116.05 crore, with no offer for sale component. The net proceeds are earmarked to fund equipment purchases (₹25 crore), meet working capital requirements (₹66 crore), and support general corporate purposes.

For FY26, the company reported total revenue of ₹277.82 crore and a profit after tax (PAT) of ₹28.04 crore, compared to total revenue of ₹109.30 crore and a PAT of ₹11.83 crore in FY25. In FY24, the company recorded revenue of ₹13.49 crore and a PAT of ₹1.51 crore.

Ravita Engineering Services listed on 22 Oct 2026 at 0.00% over the ₹112 issue price. The last grey-market premium before listing was +₹1 (+0.89%), so the listing came in close to what the grey market implied.

Latest overall subscription on this edition is 0.92×. A multiple above 1.00× means applications for more shares than are on offer; it does not mean you will get shares. Retail allotment in an oversubscribed category is a lottery for one lot. The split across QIB, NII and retail is omitted unless it belongs to the same snapshot as this total.

The company faces customer concentration risk, with its top five clients accounting for approximately 81% of total revenue as of December 2025. It is also vulnerable to geographic concentration in Western India and territorial waters, dependence on competitive bidding for contracts, and negative operating cash flows.

The timetable on the record is open 14 Oct 2026, close 16 Oct 2026, allotment 19 Oct 2026, listing 22 Oct 2026. MUFG Intime India is the registrar. Check allotment on their site with your PAN after the basis is out. After listing, this page stays up. The grey-market mark becomes history, and the listing print replaces the expected-listing sketch. Do not apply because a premium looks large. Read the prospectus.

Company profile: AI analysis of the offer document and news coverage (2 Nov 2026). Sources: zerodha.com, reddit.com, equityresearchindia.com, a2zipo.com, signalz.pro. Check the offer document before relying on a figure.