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Vans Electroengineerings IPOLISTED
VANS Electroengineerings Limited manufactures VCBs, Vacuum Interrupters and traction power components for Indian Railways, metro systems and renewable energy applications.
Listing price
₹224.2
Listing gain
+90.00%
Current
₹224.2
Listed
07 Oct 26
Opens
29 Sept 26Closes
01 Oct 26Allotment
05 Oct 26Refund
06 Oct 26Demat
06 Oct 26Listing
07 Oct 26Listed at
₹224.2
+90.00% on 07 Oct 26
Overview
Price band
₹112-118
Lot size
1200 shares
Min. investment
₹2,83,200
Issue size
₹33.98 Cr
28.80 L shares
Fresh issue
₹33.98 Cr
28.80 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Market Maker | 1,46,400 | 5.08% |
| Anchor Investor | 8,04,000 | 27.92% |
| QIB | 5,37,600 | 18.67% |
| NII (HNI) | 4,03,200 | 14% |
| B-HNI | 2,68,800 | — |
| S-HNI | 1,34,400 | — |
| Individual | 9,40,800 | 32.67% |
| Employee | 48,000 | 1.67% |
| Total | 28,80,000 | 100.01% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,83,200 |
| Retail (Max) | 2 | 2,400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3,600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9,600 | ₹11,32,800 |
Listing performance
NSE/BSE: VANSELECTROENGINEERINGSListing gain
+90.00%
Gain per retail lot
₹2,54,880
Latest vs issue
—
GMP was
₹45 (+38.14%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Vans Electroengineerings Live GMP
Not enough GMP history yet to draw a trend.
Subscription
01 Oct, 08:40 pmOversubscribed 628.78 times · 3,28,028 applications
Total applications
3,28,028
Total bid amount
₹14,317 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 5,37,600 | 15,14,12,400 | 281.65x | ₹1,787 Cr |
| NII (HNI) | 4,03,200 | 41,61,96,000 | 1032.23x | ₹4,911 Cr |
| B-HNI | 2,68,800 | 31,52,97,600 | 1172.98x | ₹3,721 Cr |
| S-HNI | 1,34,400 | 10,08,98,400 | 750.73x | ₹1,191 Cr |
| Retail | 9,40,800 | 64,56,43,200 | 686.27x | ₹7,619 Cr |
| Employee | 48,000 | 45,600 | 0.95x | ₹0.54 Cr |
| Total | 19,29,600 | 1,21,32,97,200 | 628.78x | ₹14,317 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 75 | 31,747 | 423.29x |
| S-HNI | 37 | 25,807 | 697.49x |
| Retail | 392 | 2,69,018 | 686.27x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
83.27%
PAT Margin
23.61%
ROCE
63.96%
EBITDA Margin
31.63%
Debt to Equity Ratio
0.28
Price to Book Value
10.3
RoNW
58.79%
Valuation vs listed peers
EPS Pre IPO
₹6.74
EPS Post IPO
₹4.96
P/E Pre IPO
17.51
P/E Post IPO
23.79
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+740.2%
Profit growth FY24 → FY26
+26850.0%
ROCE
63.96%
- PAT margin 23.6% and ROCE 64.0%.
- Price-to-book of 10.3× leaves little room for an earnings miss.
Strengths & risks
- Niche Market Focus in railway electrification products.
- RDSO & CORE Approvals for key products.
- Integrated Manufacturing with in-house testing facilities.
- Established Customer Base across railway and EPC customers.
- Experienced Promoters with industry expertise.
Buzz score · Solid
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| To Meet Working Capital Requirements of the Company. | 25 |
| General Corporate Purpose. | - |
Company & documents
VANS Electroengineerings Limited is an electrical engineering company engaged in the manufacturing and supply of components for traction power supply and overhead equipment systems used in railway electrification, metro systems and renewable energy applications. It primarily supplies Indian Railways and railway contractors and operates its manufacturing facility in Salem, Tamil Nadu.
The Company manufactures Single Pole and Double Pole Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs) used in traction substations, sectioning posts, feeding posts and other railway electrification applications. Its products have received RDSO and CORE approvals, including approved-vendor status for certain products.
Its manufacturing facility has in-house testing and quality-control infrastructure, while testing is also conducted through KERI, South Korea and CPRI, Bengaluru for compliance with applicable standards. The Company has also expanded its product portfolio to include Overhead Equipment and Braided Flexible Connectors.
The Company is supported by promoters with experience in electrical and electronics engineering, railway infrastructure, switchgear and industrial manufacturing, covering product development, engineering, production, sales, finance and operations.
As of August 31, 2026, the Company had 33 permanent employees across manufacturing, product development, quality control, finance and accounting, administration and operations, and purchase and stores.
Registrar
Company contact
Vans Electroengineerings Limited
Plot 17, SIDCO Women's Industrial Estate, Karuppur Salem, Tamil Nadu, 636011
Phone: 9677114470
Book running lead managers
- Hem Securities Ltd.
Promoters
- Balakrishnan Srinivasan
- Viraj Bansal
- Abhishek Saraff
- Nitin Jain
- Pooja Bansal
- Hotspot Infodot Pvt. Ltd.