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Vans Electroengineerings IPO
📅 Founded: 2022
📍 Salem, Tamil Nadu
📋 Face Value: ₹10
🏦 Market Cap: ₹128 Cr
Price Band
₹112 – ₹118
Issue Size
₹34 Cr
Lot Size
1200 shares
Min. Investment
₹2,83,200
GMP
+₹0 (+0%)
Est. Return
+0%
Listing Date
07 Oct 2026
Registrar
Bigshare Services
Vans Electroengineerings IPO at a glance
Vans Electroengineerings IPO was an SME issue of ₹34 Cr at a price band of ₹112 – ₹118 per share, open from 29 Sep 2026 to 01 Oct 2026. The shares listed on BSE SME on 07 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issue₹32.26 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹34 Cr
Face Value₹10
Market Cap (at issue)₹128 Cr
Listing ExchangeBSE SME
📅 Open Date29 Sep 2026
🔒 Close Date01 Oct 2026
✂️ Cut-off Price Date01 Oct 2026
🎟️ Allotment Date05 Oct 2026
💸 Refund Initiation06 Oct 2026
📂 Demat Credit06 Oct 2026
📈 Listing Date07 Oct 2026
Objects of the Issue
- 💰 Working capital — ₹25.00 Cr
- 💰 General corporate purposes
About the Company
VANS Electroengineerings, incorporated in February 2022 and based in Salem, Tamil Nadu, makes single-pole and double-pole vacuum circuit breakers (VCBs) and vacuum interrupters. These are used mainly in railway electrification and rolling stock, and also in metro systems and renewable-energy installations. It sells to Indian Railways, railway contractors and metro projects.
Strengths
- ✅ Makes RDSO-approved products, which is a requirement for supplying Indian Railways
- ✅ Does its own engineering, assembly and testing
- ✅ Grew quickly from a small base — income went from ₹2.8 Cr in FY24 to ₹23.2 Cr in FY26
- ✅ Railway electrification and metro projects are ongoing areas of spending
Risk Factors
- ⚠️ Very short track record — incorporated in 2022, with only two full years of meaningful revenue
- ⚠️ Depends on one customer segment (railways and related contractors)
- ⚠️ Net worth was only about ₹9 Cr before the IPO, yet the issue values the company at about ₹128 Cr
- ⚠️ Most of the IPO money (₹25 Cr) goes to working capital
- ⚠️ Small SME issue — shares may trade thinly after listing
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
90.75%
Pre-IPO
→ -24.0%
66.73%
Post-IPO
Founders & Leadership
BS
Balakrishnan Srinivasan
Promoter
One of the company's promoters
VB
Viraj Bansal
Promoter
One of the company's promoters
IPO Timeline
✓
Open Date
29 Sep 2026
✓
Close Date
01 Oct 2026
✓
Allotment Date
05 Oct 2026
✓
Listing Date
07 Oct 2026
Key Financials
Revenue₹23.2 Cr
PAT₹5.4 Cr
EPS₹6.74
P/E Ratio17.51x
ROE58.79%
Market Cap₹128 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 23.19 | 13.82 | 2.76 |
| Profit After Tax | 5.39 | 1.73 | 0.02 |
| Net Worth | 9.17 | 3.78 | 1.05 |
| Total Borrowing | 2.55 | 1.20 | 5.17 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 58.78 | 45.77 |
| Debt / Equity | 0.28 | 0.32 |
| Net Worth (Rs. Cr) | 9.17 | 3.78 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹6.74 | — |
| P/E (x) | 17.51x | — |
| ROE (%) | 58.79% | — |
| Promoter Holding | 90.75% | 66.73% |
| Market Cap | ₹128 Cr | |
IPO Registrar
Vans Electroengineerings IPO FAQs
Vans Electroengineerings IPO is an SME IPO with an issue size of ₹34 Cr at a price band of ₹112 – ₹118. Minimum lot size is 1200 shares and the minimum application is 2 lots (minimum investment ~₹2,83,200). Opened on 29 Sep 2026 and closed on 01 Oct 2026. Listed on BSE SME. Registrar: Bigshare Services.