SME
IPO ·
BSE SME
Vectras Enprocon Ltd
Open
Gujarat EPC contractor for oil and gas pipelines and stations, with allied civil, electrical and inspection services.
Issue details
Price band
₹99 – ₹105
Face value
₹10
Lot size
1,200 shares
Minimum investment
₹2,52,000
Issue size
₹53.05 Cr
Fresh issue
₹42.59 Cr
Offer for sale
₹10.46 Cr
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
30 Oct 2026
Closes
3 Nov 2026
UPI mandate cut-off
5:00 PM on 3 Nov 2026
Allotment
4 Nov 2026
Refunds
5 Nov 2026
Shares in demat
5 Nov 2026
Listing
6 Nov 2026
Subscription and listing
Subscription
Not open yet
Listing price
Not listed yet
Registrar
MUFG Intime India Pvt Ltd
Lead manager
Beeline Capital Advisors Pvt Ltd
Grey market premium
Latest GMP
₹0
Est. listing price
₹105 (+0.0%)
Updated
30 Oct 2026
Unofficial grey market indication sourced via Chittorgarh. GMP is not regulated, can change quickly and is not a reliable guide to listing price. Not a recommendation.
Issue structure
Shares reserved per category and share of the total issue
QIB
—
Up to 50% of net offer
Retail
—
At least 35% of net offer
NII
—
At least 15% of net offer
Finaccle’s quick read
Apply
Income up 49% and PAT up 52% in FY26 with ROE of 51.39%, D/E of 0.59 and a post-issue P/E of 10.99x; the issue is mostly fresh with OFS around ₹10 Cr of ₹53 Cr.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Vectras Enprocon is a Gujarat-based EPC contractor serving the midstream and downstream oil and gas sector. It lays pipeline networks and builds combined gas stations across several Indian states, and also offers civil, electrical, instrumentation and safety-audit services. It had 990 employees at September 2026 and FY26 total income of ₹119.90 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
51.39%
ROCE
48.37%
Debt / equity
0.59
PAT margin
12.88%
P/E post issue
10.99x
Market cap
₹200.09 Cr
Use of IPO money
Repayment/prepayment of borrowings
₹14.00 Cr
Working capital requirements
₹20.00 Cr
General corporate purposes
—
Strengths
✓
Steady growth: FY26 income up 49%, PAT up 52%
✓
Order book across pipeline and gas-station segments
✓
Post-issue P/E of 10.99x looks modest
✓
Mostly fresh issue; debt/equity under 1
Risks to watch
!
Borrowings rose from ₹4.16 Cr to ₹31.36 Cr in about two and a half years
!
Concentrated in oil and gas EPC, dependent on a few project owners
!
Working-capital heavy contracting business
!
OFS of about ₹10 Cr goes to selling shareholders
!
Inconsistent fresh-issue figures between page text and table
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.