Vans Electroengineerings IPO GMP today is Rs 106.2. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
VANS
Vans Electroengineerings IPO GMP, Subscription & Allotment Status Today
Vans Electroengineerings is engaged in manufacturing and supplying components for traction power supply and overhead equipment systems used in railway electrification infrastructure, metro systems, and renewable energy applications. The company operates a single manufacturing facility in Salem, Tamil Nadu, housing product assembly, testing infrastructure, and quality control operations. It generates revenue primarily through the sale of products to Indian Railways, supplying either directly through contracts secured via competitive bidding or indirectly through associated engineering, procurement, and construction contractors and vendors. Its key product portfolio includes double pole and single pole vacuum circuit breakers, double pole and single pole vacuum interrupters, overhead equipment, and braided flexible connectors. Operating within the electrical equipment and switchgear sector, the company manufactures products designed to meet specific technical standards and regulatory specifications prescribed by railway authorities for critical power supply and traction applications.
- Price Band
- ₹112.00 - ₹118.00
- Lot Size
- 1,200 Shares
- Bidding Closes
- 01 Oct 2026
- Listing Date
- 07 Oct 2026
Current GMP Status
₹106.2
+90% vs upper band
Est. Listing Gain
+90.00%
Last Trend
07 Oct 2026
Listing Price
₹224.20
Retail Entry
₹2,83,200
IPO Details
Complete IPO information
| Current GMP | ₹106.2 |
|---|---|
| Estimated Listing Gain | +90.00% |
| Price Band | ₹112.00 - ₹118.00 |
| Issue Price | Approx ₹33.98 Crores |
| Listing Price | ₹224.20 |
| Lot Size | 1,200 Shares |
| Issue Type | SME |
| Registrar | Bigshare Services Pvt. Ltd. |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 584.44x |
| Listing Date | 07 Oct 2026 |
| Minimum Investment | ₹2,83,200 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 5.38 | 1514.12 | 281.65x |
| NII | 5.50 | 4161.96 | 757.27x |
| Retail | 9.41 | 6456.43 | 686.27x |
| Overall Subscription | 20.76 | 12132.97 | 584.44x |
Day-wise demand
Vans Electroengineerings IPO subscription status day-wise
| Day | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 3 (01 Oct) | 0.03x | 52.99x | 101.83x | 60.19x |
Subscription in times (x) at the end of each bidding day. Today's row updates through the day.
Company data
{Vans Electroengineerings}: financials, valuation & listing
Listing details
| Listing date | 07 Oct 2026 |
|---|---|
| BSE code | 544971 |
| ISIN | INE2SO401011 |
| Offer price | ₹112 – ₹118 |
| Face value | ₹10 |
| Listing price | ₹224.20 |
Valuation
| Return on equity (ROE) | 83.27% |
|---|---|
| Return on capital employed (ROCE) | 63.96% |
| EBITDA margin | 31.63% |
| PAT margin | 23.61% |
| Debt to equity | 0.28 |
| EPS | 6.74 (Basic) |
| P/E ratio | N/A |
| Return on net worth | 58.79% |
| NAV per share | 11.46 |
Financial history
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 2.76 Cr. | 2.71 Cr. | 0.02 Cr. | 6.57 Cr. |
| 2025 | 13.82 Cr. | 11.51 Cr. | 1.73 Cr. | 5.34 Cr. |
| 2026 | 23.19 Cr. | 15.93 Cr. | 5.39 Cr. | 16.85 Cr. |
Use of proceeds
| Purpose | Amount (₹ crore) |
|---|---|
| Working Capital Requirement | 25 (73.57%) |
| General Corporate Purposes | 8.98 (26.43%) |
Key dates
| UPI mandate deadline | 01 Oct 2026 |
|---|---|
| Allotment finalised | 05 Oct 2026 |
| Refund initiation | 06 Oct 2026 |
| Shares credited | 06 Oct 2026 |
| Mandate end date | 16 Oct 2026 |
| Anchor lock-in ends (50%) | 03 Nov 2026 |
| Anchor lock-in ends (remaining) | 02 Jan 2027 |
Grey Market Premium (GMP) data is entirely unofficial and speculative, and is influenced by market sentiment, demand and supply for IPO shares, and market rumors. While GMP can provide an indication of the expected IPO listing price, it may not always be accurate and does not guarantee the actual listing price.
Head-to-head
Compare Vans Electroengineerings IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Vans Electroengineerings is priced at ₹118 per share. With a minimum lot size of 1,200 shares, a retail investor applying for one lot would need approximately ₹2,83,200 to participate in this SME issue.
The latest recorded Grey Market Premium for Vans Electroengineerings stands at ₹106.2, implying an estimated listing gain of around 90.00% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Vans Electroengineerings's IPO was subscribed 584.44x overall, with a category-wise breakdown of Retail 686.27x, QIB 281.65x, NII 757.27x.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
29 Sept 2026
✓
Bidding Closes
01 Oct 2026
✓
Allotment
05 Oct 2026
✓
Listing
07 Oct 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 07 Oct 2026 | ₹103.00 | - | 87.29% |
| 06 Oct 2026 | ₹103.00 | +₹33.00 | 87.29% |
| 05 Oct 2026 | ₹70.00 | - | 59.32% |
| 03 Oct 2026 | ₹70.00 | - | 59.32% |
| 02 Oct 2026 | ₹70.00 | -₹20.00 | 59.32% |
| 01 Oct 2026 | ₹90.00 | - | 76.27% |
| 30 Sept 2026 | ₹90.00 | +₹45.00 | 76.27% |
| 29 Sept 2026 | ₹45.00 | - | 38.14% |
| 28 Sept 2026 | ₹45.00 | - | 38.14% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,83,200 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,83,200 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹4,24,800 |
| S-HNI Maximum | 7 Lot | 8,400 | ₹9,91,200 |
| B-HNI Minimum | 8 Lot | 9,600 | ₹11,32,800 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
Vans Electroengineerings IPO Details
Vans Electroengineerings IPO is a book building issue with an issue size of Approx ₹33.98 Crores. The IPO comprises a fresh issue of Approx ₹33.98 Crores and is proposed to be listed on the BSE SME. The IPO price band is set at ₹112 – ₹118 per equity share.
| Particular | Details |
|---|---|
| IPO Open Date | 29 Sept 2026 |
| IPO Close Date | 01 Oct 2026 |
| IPO Price Band | ₹112 – ₹118 |
| Issue Size | Approx ₹33.98 Crores |
| Fresh Issue | Approx ₹33.98 Crores |
| Issue Type | SME |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Note: The above Vans Electroengineerings IPO details are based on the information provided for the issue.
Analysis
Vans Electroengineerings IPO Reservation
The Vans Electroengineerings IPO reservation is distributed across Anchor Investors, Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors. The allocation provides separate share quotas for each investor category participating in the IPO.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | 8,04,000 Shares | 27.92% |
| QIB (Ex. Anchor) | 5,37,600 Shares | 18.67% |
| NII Shares Offered | 4,03,200 Shares | 14.00% |
| Retail Shares Offered | 9,40,800 Shares | 32.67% |
Note: The reservation figures above are based on the information provided for the Vans Electroengineerings IPO.
Analysis
Vans Electroengineerings IPO Anchor Investors
Vans Electroengineerings completed its anchor investor bidding ahead of the IPO opening. The anchor allocation covers 8,04,000 shares, with the anchor portion carrying applicable lock-in periods for the allocated shares.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 28, 2026 |
| Shares Offered | 8,04,000 Shares |
| Anchor Size | 9.49 Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | Nov 4, 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | Jan 3, 2027 |
Note: The anchor investor details above are based on the information provided for the Vans Electroengineerings IPO.
Analysis
Vans Electroengineerings IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 29 Sept 2026 |
| IPO Close Date | 01 Oct 2026 |
| Basis of Allotment | 05 Oct 2026 |
| Refunds | 06 Oct 2026 |
| Credit to Demat Account | 06 Oct 2026 |
| IPO Listing Date | 07 Oct 2026 |
Note: The timeline for Vans Electroengineerings IPO is tentative and subject to change.
Analysis
Vans Electroengineerings IPO Promoters and Holding Pattern
The promoters of Vans Electroengineerings are Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal and Hotspot Infodot Pvt. Ltd. The table below shows the shareholding pattern before and after the IPO, including the promoter group and other shareholders.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 72,60,000 | 90.75% | 7,260,000 | 66.73% |
| Others* | 7,40,000 | 9.25% | 3,620,000 | 33.27% |
| Total | 80,00,000 | 100% | 10,880,000 | 100% |
Note: The holding pattern represents the shareholding position before and after the Vans Electroengineerings IPO as provided in the offer details.
Analysis
Vans Electroengineerings Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Working Capital Requirement | 25 (73.57%) |
| General Corporate Purposes | 8.98 (26.43%) |
Note: Objectives are as specified in the DRHP/RHP documents of Vans Electroengineerings.
Analysis
Vans Electroengineerings About Ipo
VANS Electroengineerings Limited, incorporated in February 2022, manufactures and supplies components used in railway electrification, metro systems, and renewable energy projects.
Moreover, its main customers include Indian Railways and railway contractors. The company has its registered office and manufacturing facility in Salem, Tamil Nadu.
The company manufactures Single Pole and Double Pole Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs) used in railway electrification systems, including traction substations, sectioning posts and feeding posts. Its products are approved by RDSO, and some products have also received “Approved Vendor” status from CORE.
Analysis
Vans Electroengineerings Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 2.76 Cr. | 2.71 Cr. | 0.02 Cr. | 6.57 Cr. |
| 2025 | 13.82 Cr. | 11.51 Cr. | 1.73 Cr. | 5.34 Cr. |
| 2026 | 23.19 Cr. | 15.93 Cr. | 5.39 Cr. | 16.85 Cr. |
Note: Financial numbers for Vans Electroengineerings are in ₹ Crores unless stated otherwise.
Analysis
Vans Electroengineerings Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 83.27% |
| ROCE | 63.96% |
| EBITDA Margin | 31.63% |
| PAT Margin | 23.61% |
| Debt to Equity Ratio | 0.28 |
| Earning Per Share (EPS) | 6.74 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 58.79% |
| Net Asset Value (NAV) | 11.46 |
Note: Valuation KPIs for Vans Electroengineerings are computed for FY2026.
Analysis
Vans Electroengineerings IPO Peer Group Comparison
To Be Updated Soon
Analysis
Vans Electroengineerings IPO Lead Managers aka Merchant Bankers
- Hem Securities Ltd.
FAQ
Vans Electroengineerings IPO FAQs
Vans Electroengineerings IPO price band is Rs 112.00 to Rs 118.00. Check the latest issue price, lot size and GMP together before applying.
Vans Electroengineerings IPO open date is 29 Sept 2026, close date is 01 Oct 2026, and listing date is 07 Oct 2026.
Vans Electroengineerings IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,83,200.
Vans Electroengineerings is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Vans Electroengineerings IPO subscription status currently shows Retail 686.27x, QIB 281.65x, NII 757.27x, Overall 584.44x.
Vans Electroengineerings is engaged in manufacturing and supplying components for traction power supply and overhead equipment systems used in railway electrification infrastructure, metro systems, and renewable energy applications. The company operates a single manufacturing facility in Salem, Tamil Nadu, housing product assembly, testing infrastructure, and quality control operations. It generates revenue primarily through the sale of products to Indian Railways, supplying either directly through contracts secured via competitive bidding or indirectly through associated engineering, procurement, and construction contractors and vendors. Its key product portfolio includes double pole and single pole vacuum circuit breakers, double pole and single pole vacuum interrupters, overhead equipment, and braided flexible connectors. Operating within the electrical equipment and switchgear sector, the company manufactures products designed to meet specific technical standards and regulatory specifications prescribed by railway authorities for critical power supply and traction applications.
Vans Electroengineerings IPO issue size is TBA and the expected allotment date is 05 Oct 2026.
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