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Vans Electroengineerings IPO
Price Band
₹112.0–118.0
Issue Size
₹33.98 Cr
Lot Size
1,200 shares
Min Investment
₹283,200
2 LOTS MIN
GMP
+₹45.0 (38.14%)
Issue Price
₹118.0
Subject to Sauda
₹41000
Paid only if allotted
Vans Electroengineerings IPO AI Summary
- Vans Electroengineerings IPO is upcoming on BSE SME in the Heavy Electrical Equipment sector.
- Price band: ₹112.0–₹118.0 per share, lot size 1,200 shares (min. investment ₹283,200, 2 lots minimum).
- Subscription window: 29 Sep–01 Oct 2026, listing on 07 Oct 2026.
- Current GMP is +₹45.0 (38.14%), an estimated listing price of ₹163 — unofficial and can change daily.
VANS Electroengineerings Limited is preparing to launch its IPO with a price band of ₹112.0 to ₹118.0, aiming to raise ₹33.98 Cr. The company specializes in traction power supply equipment for railway electrification and has shown significant growth in revenue and profit over the past few years. The IPO is expected to open on 29 September 2026 and close on 1 October 2026.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
IPO not open yet
Opens 29 Sep 2026 · in 1 days
Vans Electroengineerings IPO Grey Market Premium (GMP) Today
GMP
+₹45.0
GMP %
+38.14%
Est. Listing
₹163.0
Updated: 27 Sep 2026 08:15
GMP Trend (Last 4 Days)
TopFund Score — Listing Data Indicator
GMP is 38.1% above issue price
Subscription not open yet
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 68.7% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
VANS Electroengineerings Limited is an ISO 9001:2015 certified engineering company engaged in the design, manufacture, and supply of traction power supply and overhead equipment (OHE) system components used in railway electrification projects, metro rail networks, and renewable energy infrastructure. The Company’s core product portfolio includes Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs), encompassing both single-pole and double-pole configurations, which are primarily supplied to Indian Railways and railway electrification contractors. The Company operates a manufacturing facility located in Salem, Tamil Nadu, equipped with modern production systems, in-house testing facilities, and quality assurance infrastructure. Its products have received approvals from the Research Designs and Standards Organisation (RDSO) and undergo testing and validation by reputed institutions, including Korea Electrotechnology Research Institute (KERI), South Korea, and Central Power Research Institute (CPRI), Bengaluru, ensuring compliance with stringent industry and international standards. VANS Electroengineerings focuses on delivering reliable and high-performance electrical equipment through a combination of engineering expertise, advanced manufacturing processes, and rigorous quality control practices. The Company is led by experienced promoters and a technically proficient management team with domain knowledge in electrical engineering, railway electrification, and infrastructure development. Competitive Strengths Strong expertise in manufacturing traction power and railway electrification equipment. RDSO-approved product portfolio supported by comprehensive quality control and internationally recognised testing standards. End-to-end capabilities encompassing engineering, manufacturing, assembly, and in-house testing. Long-standing presence in the railway infrastructure ecosystem with an established customer network. Experienced leadership team with technical knowledge and industry-specific expertise.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 16.85 | 5.34 | 6.57 |
| Total Income | 23.19 | 13.82 | 2.76 |
| Profit After Tax | 5.39 | 1.73 | 0.02 |
| EBITDA | 7.23 | 2.48 | 0.02 |
| NET Worth | 9.17 | 3.78 | 1.05 |
| Reserves and Surplus | 7.17 | 1.78 | 0.05 |
| Total Borrowing | 2.55 | 1.20 | 5.17 |
Key Ratios
EPS
₹6.74
NAV
₹11.46
ROE
83.27%
ROCE
63.96%
RoNW
58.79%
P/B Value
10.30
P/E Ratio
17.51
Market Cap
₹128.38 Cr
PAT Margin
23.61%
Debt/Equity
0.28
Promoters
Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal, Hotspot Infodot Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital Requirements of the Company 25.00 2 General Corporate Purpose Total 25.00
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹2.76 Cr in the year ending 31 Mar 2024, rising significantly to ₹13.82 Cr by 31 Mar 2025, and further increasing to ₹23.19 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹0.02 Cr in the year ending 31 Mar 2024, increasing to ₹1.73 Cr by 31 Mar 2025, and further rising to ₹5.39 Cr by 31 Mar 2026.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price, based on unofficial trading in the grey market. A positive GMP suggests that the IPO may list at a higher price than the issue price, while a negative GMP indicates the opposite. However, GMP is not a guaranteed indicator of listing performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's financial health, growth potential, and market conditions. It's important to consider the company's fundamentals and industry position.
Who May Want to Wait
Investors with a low risk tolerance or those seeking guaranteed short-term returns may want to avoid IPOs like this, as they can be subject to market fluctuations and may not provide immediate gains.
IPO Timeline, Explained
The IPO opens for subscription on 29 September 2026 and closes on 1 October 2026. Allotment of shares will be finalized by 5 October 2026, and the shares are expected to list on the stock exchange on 7 October 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when the shares of an IPO are listed on the stock exchange at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by various factors, including market conditions and investor sentiment on the listing day.
This evaluation is generated from Vans Electroengineerings's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Vans Electroengineerings IPO GMP today?
Vans Electroengineerings IPO GMP today is +₹45.0 (38.14%), indicating an estimated listing price of ₹163. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Vans Electroengineerings IPO?
The price band of Vans Electroengineerings IPO is ₹112.0–₹118.0 per share.
When does Vans Electroengineerings IPO open and close?
Vans Electroengineerings IPO opens on 29 September 2026 and closes on 01 October 2026.
When does Vans Electroengineerings IPO list on the stock exchange?
Vans Electroengineerings IPO is scheduled to list on 07 October 2026, with an estimated listing price of ₹163.0 based on current GMP.
What is the lot size for Vans Electroengineerings IPO?
The lot size for Vans Electroengineerings IPO is 1200 shares, requiring a minimum investment of ₹283,200 (2 lots).
What is the TopFund Listing Data Indicator for Vans Electroengineerings?
Vans Electroengineerings's Listing Data Indicator score is 87/100 (Very High signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the IPO?
The price band for the IPO is ₹112.0 to ₹118.0.
What is the minimum investment required?
The minimum investment required is ₹283,200.0.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When is the IPO expected to list?
The IPO is expected to list on 7 October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Sep 2026
Close
01 Oct 2026
Allotment
05 Oct 2026
Listing
07 Oct 2026
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