Vans Electroengineerings IPO Date & Timeline
Tentative schedule from the RHP.
Vans Electroengineerings IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (12 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Oct 2, 2026 · 9:15 AM | ₹60 | ₹0 | 50.8% | ₹178 |
| Oct 1, 2026 · 4:30 PM | ₹60 | +₹5 | 50.8% | ₹178 |
| Oct 1, 2026 · 1:45 PM | ₹55 | −₹10 | 46.6% | ₹173 |
| Oct 1, 2026 · 10:45 AM | ₹65 | +₹15 | 55.1% | ₹183 |
| Sep 30, 2026 · 2:15 PM | ₹50 | ₹0 | 42.4% | ₹168 |
| Sep 30, 2026 · 10:30 AM | ₹50 | +₹10 | 42.4% | ₹168 |
| Sep 30, 2026 · 9:00 AM | ₹40 | +₹10 | 33.9% | ₹158 |
| Sep 29, 2026 · 7:00 PM | ₹30 | +₹5 | 25.4% | ₹148 |
| Sep 29, 2026 · 9:00 AM | ₹25 | ₹0 | 21.2% | ₹143 |
| Sep 28, 2026 · 10:00 AM | ₹25 | +₹7 | 21.2% | ₹143 |
| Sep 27, 2026 · 7:45 PM | ₹18 | ₹0 | 15.3% | ₹136 |
| Sep 27, 2026 · 8:00 AM | ₹18 | — | 15.3% | ₹136 |
Vans Electroengineerings IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Employee | Total |
|---|---|---|---|---|---|---|---|
| Shares offered | 5,37,600 | 2,70,000 | 1,33,200 | 4,03,200 | 9,40,800 | 48,000 | 19,29,600 |
| Day 1 · Sep 29 | 0.00× | 1.75× | 2.81× | 2.10× | 4.53× | 0.07× | 2.65× |
| Day 2 · Sep 30 | 0.03× | 68.58× | 79.52× | 72.23× | 101.83× | 0.38× | 64.76× |
| Day 3 · Oct 1 | 281.65× | 1172.98× | 750.73× | 1032.23× | 686.27× | 0.95× | 628.78× |
Vans Electroengineerings IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 29 – Oct 1, 2026 |
| Price band | ₹112 – 118 per share |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Total issue size | 28,80,000 shares ₹33.98 Cr |
| Fresh issue | 28,80,000 shares ₹33.98 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Market cap | ≈ ₹128.38 Cr |
| Promoter holding | 90.75% → 66.73% |
| Lead manager | Hem Securities Ltd. |
| Market maker | Hem Finlease Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
Offer documents
Vans Electroengineerings IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹118.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 2,400 | ₹2,83,200 |
| Individual (max) | 2 | 2,400 | ₹2,83,200 |
| sHNI (min) | 3 | 3,600 | ₹4,24,800 |
| sHNI (max) | 7 | 8,400 | ₹9,91,200 |
| bHNI (min) | 8 | 9,600 | ₹11,32,800 |
Vans Electroengineerings IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 1,46,400 | 5.1% | — |
| Anchor investors | 8,04,000 | 27.9% | — |
| QIB (ex-anchor) | 5,37,600 | 18.7% | — |
| NII (HNI) | 4,03,200 | 14% | — |
| ↳ bHNI (>₹10L) | 2,70,000 | 9.4% | 75 |
| ↳ sHNI (₹2–10L) | 1,33,200 | 4.6% | 37 |
| Individual investors | 9,40,800 | 32.7% | 392 |
| Employee | 48,000 | 1.7% | — |
| Total | 28,80,000 | 100% |
Vans Electroengineerings Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 2.76 | 13.82 | 23.19 | +67.8% |
| EBITDA | — | 2.48 | 7.23 | +191.5% |
| Profit after tax | 0.02 | 1.73 | 5.39 | +211.6% |
| Total assets | 6.57 | 5.34 | 16.85 | +215.5% |
| Net worth | 1.05 | 3.78 | 9.17 | +142.6% |
| Reserves & surplus | 0.05 | 1.78 | 7.17 | +302.8% |
| Total borrowing | 5.17 | 1.20 | 2.55 | +112.5% |
Vans Electroengineerings IPO Valuation
At the upper band of ₹118.
About Vans Electroengineerings
Business profile from the RHP.
- 2022Incorporated · Salem, Tamil Nadu
- ₹50.6 CrOrder book (Sep 5, 2026)
- RDSOApproved products · ISO 9001:2015
- 33Employees (Aug 31, 2026)
Promoters & holding
Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal, Hotspot Infodot Pvt. Ltd.
Objects of the issue
Vans Electroengineerings IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: Revenue and profit have surged on railway electrification demand, returns are very high, debt is low and a ₹50.6 Cr order book gives visibility. Against that, the company is four years old with a tiny FY24 base, large receivables, no listed peers and a price of ~10× book that leans on a single strong year.
- Fast growth: revenue went from ₹2.8 Cr (FY24) to ₹23.2 Cr (FY26) and profit to ₹5.4 Cr.
- Very high returns on capital (RoE ~83%, RoCE ~64%) with a ~24% profit margin.
- Low debt: borrowings of ₹2.55 Cr against ₹9.2 Cr net worth (D/E ~0.28).
- Order book of ₹50.6 Cr is more than twice FY26 revenue, and products carry RDSO approval needed to sell to Indian Railways.
- Rides long-term spending on rail electrification, metros and renewable energy.
- Very young (incorporated 2022) and small, with 33 employees; the profit jump has only one full year behind it.
- Priced at ~10× book value and ~74× FY25 earnings; there are no listed peers to check the price against.
- Trade receivables of ₹13.1 Cr at March 2026 are over half a year of sales, so profits are not yet backed by cash.
- Business depends on railway tenders and government spending, which can be lumpy and delayed.
- Most of the ₹34 Cr raised goes to working capital, not new capacity.
- SME listing: trading can be thin after listing, and applications need at least 2 lots (₹2.83 lakh).
Vans Electroengineerings Listing Performance Updates after Oct 7
We close the loop: issue vs listing price, and whether our call was right.
Vans Electroengineerings IPO Allotment Status & Contact Details
Allotment is expected on Oct 5. Check it with your PAN or application number.
Bigshare Services Pvt. Ltd.
- Phone
- 8657578989
- ipo@bigshareonline.com
- Website
- www.bigshareonline.com
Vans Electroengineerings Ltd.
- Address
- Plot 17, SIDCO Women's Industrial Estate, Karuppur, Salem, Tamil Nadu 636011
- Phone
- 9677114470
- cs@vanselectroengineerings.com
- Website
- vanselectroengineerings.com
Vans Electroengineerings IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is Vans Electroengineerings IPO?
Vans Electroengineerings IPO is a ₹33.98 Cr SME book built issue, entirely a fresh issue. The shares will list on BSE SME.
What is Vans Electroengineerings IPO GMP today?
As of Oct 2 · 9:15 AM IST, the grey market premium is ₹60 (≈50.8%), implying an estimated listing price of about ₹178. The GMP has ranged ₹18 – 65 since Sep 27. GMP is unofficial and not a guarantee of the listing price.
What is the price band of Vans Electroengineerings IPO?
The price band is ₹112 – ₹118 per equity share of face value ₹10.
What is the lot size of Vans Electroengineerings IPO?
The minimum lot is 1,200 shares. Individual investors must apply for exactly 2 lots (2,400 shares).
What is the minimum investment for Vans Electroengineerings IPO?
The minimum individual investment is ₹2,83,200 (2,400 shares at ₹118).
When does Vans Electroengineerings IPO open and close?
The IPO opens on Sep 29, 2026 and closes on Oct 1, 2026.
What is the allotment date of Vans Electroengineerings IPO?
The basis of allotment is expected on Oct 5, 2026. Refunds and demat credit are expected on Oct 6, 2026.
When will Vans Electroengineerings IPO be listed?
The tentative listing date is Oct 7, 2026 on BSE SME.
What is Vans Electroengineerings IPO subscription status?
At close (Oct 1 · 5:57 PM IST), the issue was subscribed 628.78× overall — QIB 281.65×, bHNI 1172.98×, sHNI 750.73×, Individual 686.27×, Employee 0.95×.
What is the P/E ratio and valuation of Vans Electroengineerings IPO?
At the upper band, the P/E is 17.5× pre-issue and 23.8× post-issue, with a market cap of about ₹128.38 Cr.
Should I apply for Vans Electroengineerings IPO?
IPOSignal's view is Proceed with Caution · Fast Growth, Rich Book Value (57/100). Revenue and profit have surged on railway electrification demand, returns are very high, debt is low and a ₹50.6 Cr order book gives visibility. Against that, the company is four years old with a tiny FY24 base, large receivables, no listed peers and a price of ~10× book that leans on a single strong year. This is research, not investment advice.
How to check Vans Electroengineerings IPO allotment status?
After Oct 5, check on the registrar Bigshare Services Pvt. Ltd.'s site (ipo.bigshareonline.com/IPO_Status.html), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of Vans Electroengineerings IPO?
The registrar is Bigshare Services Pvt. Ltd.. The book-running lead manager is Hem Securities Ltd.. The market maker is Hem Finlease Pvt. Ltd..