Ravita Engineering Services shares to list today: Check GMP ahead of debut

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The Economic Times daily newspaper is available online now. Read Today's Paper Ravita Engineering Services shares to list today: Check GMP ahead of debutBy Ritesh Presswala, ETMarkets.comLast Updated: Oct 22, 2026, 09:21:00 AM ISTSynopsis

Ravita Engineering Services is set to debut on the NSE SME platform on Thursday, with a muted grey market premium of around 1%, indicating a potentially modest listing gain. The Rs 116.05 crore IPO, priced at Rs 105–112 per share, was subscribed 7.11 times overall. QIBs led demand with 13.21 times subscription, followed by NIIs at 7.42 times and individual investors at 3.50 times.

Shares of Ravita Engineering Services are set to debut on the NSE SME platform on Thursday, amid muted grey market sentiment. The IPO currently commands a grey market premium (GMP) of around 1%, suggesting expectations of a listing marginally above the issue price.

The Rs 116.05 crore IPO comprised an entirely fresh issue of 1.04 crore shares, with the price band fixed at Rs 105–Rs 112 per share. The minimum application lot consisted of 1,200 shares. At the upper end of the price band, retail investors were required to apply for at least 2,400 shares, translating into a minimum investment of Rs 2,68,800.

The IPO opened for subscription on October 14, 2026, and closed on October 16, 2026, garnering an overall subscription of 7.11 times. The individual investor category was subscribed 3.50 times, while the qualified institutional buyer (QIB) segment, excluding anchor investors, saw 13.21 times subscription. The non-institutional investor (NII) category was subscribed 7.42 times.

Vivro Financial Services Pvt. Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is the registrar.

Ravita Engineering Services IPO GMP today

Ravita Engineering Services IPO was commanding a grey market premium (GMP) of Rs 1 per share, translating into a premium of around 1% over the upper end of the issue price band of Rs 112. Based on the prevailing GMP, the estimated listing price stands at Rs 113 per share. The grey market premium is an unofficial indicator of investor sentiment and may fluctuate before listing. It does not guarantee the actual listing price or potential listing gains.

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Objects of the IPO

Ravita Engineering Services Ltd. plans to utilise Rs 70 crore from the IPO proceeds to meet its long-term working capital requirements. It has earmarked another Rs 25.53 crore for capital expenditure towards purchasing heavy equipment. The remaining proceeds will be used for general corporate purposes.

Financial performance

Ravita Engineering Services Ltd.'s total income surged 154% to Rs 278 crore in FY26 from Rs 109 crore in FY25. Its profit after tax (PAT) increased 137% to Rs 28 crore in FY26, compared with Rs 12 crore in the previous financial year.

About Ravita Engineering Services

Incorporated in December 2007, Ravita Engineering Services Ltd. provides turnkey engineering, procurement, installation and commissioning (EPIC) solutions for HVAC systems, central air-conditioning, chiller plants, compressors and other electromechanical equipment. The company also offers operations and maintenance (O&M) services across its onshore, offshore and data centre businesses, serving commercial, industrial, hospitality and offshore oil and gas facilities. It has secured data centre infrastructure work orders worth Rs 120 crore in Maharashtra.

The company’s revenue from operations increased from Rs 13.49 crore in FY24 to Rs 277.63 crore in FY26. In FY26, its EBITDA stood at Rs 40.05 crore, while PAT was Rs 28.04 crore. As of June 30, 2026, the company had 399 permanent employees, including 369 deployed at project sites, and an order book covering EPIC, O&M and hybrid projects across its three business segments.

Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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