• Total Issue Size – Up to 1,03,62,000 Equity Shares of ₹ 5 each
  • IPO Size – ₹ 116.05 Crore (At Upper Price Band)
  • Price Band – ₹ 105 – ₹ 112 Per Share
  • Lot Size – 1,200 Equity Shares (*Bids Can Be Made for A Minimum Of 2,400 Equity Shares and In Multiple Of 1,200 Equity Shares)

Mumbai: Ravita Engineering Services Limited is engaged in EPIC and O&M solutions for HVAC systems, temperature-control systems and allied electro-mechanical equipment, proposes to open its Initial Public Offering on Tuesday, October 13, 2026 aiming to raise ₹ 116.05 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.

The issue size is 1,03,62,000 equity shares at a face value of ₹ 5 each with a price band of ₹ 105 – ₹ 112 Per Share.

Equity Share Allocation

  • Anchor Portion – Up to 29,48,400 Equity Shares
  • Net QIB – Up to 19,69,200 Equity Shares
  • NII– Not Less than 14,76,000 Equity Shares
  • Individual Investors – Not Less than 34,46,400 Equity Shares
  • Market Maker – 5,22,000 Equity Shares

The net proceeds from the IPO will be utilized to meet long-term working capital requirements, Funding capital expenditure requirements towards purchase of certain heavy equipment and General Corporate Purposes. The anchor bidding will be on Monday, October 12, 2026 and the issue will open on Tuesday, October 13, 2026 and will close on Thursday, October 15, 2026.

The Book Running Lead Manager to the Issue is Vivro Financial Services Private Limited. The Registrar to the Issue is MUFG Intime India Private Limited.

Mr. Vibhoar Agrawal, Chairman & Executive Director of Ravita Engineering Services Limited, said, “The IPO marks an important milestone in Ravita’s growth journey. Over the years, we have built capabilities in the EPIC and O&M of HVAC and electro-mechanical systems across onshore facilities, offshore rigs and platforms, and data centres. The proposed deployment of the Net Proceeds towards long-term working capital and heavy equipment is intended to support the execution of our order book and strengthen our in-house project delivery capabilities as we expand our presence, including in the data centre segment.”

Mr. Roshan Vaishnav, Director of Vivro Financial Services Private Limited said, “Ravita operates in the HVAC market, serving industrial, commercial, infrastructure and data centre applications. As per the D&B industry report, India’s HVAC EPC I&C market is estimated at ₹81,284 crore in FY25 and is projected to reach ₹1,69,723 crore by FY30, while the HVAC O&M market is expected to grow from ₹36,905 crore to ₹68,205 crore. 

The Company operates across onshore, offshore and data centre HVAC engineering through EPIC projects and O&M contracts. Revenue from operations increased from ₹1,349.25 lakhs in FY24 to ₹27,763.29 lakhs in FY26, while PAT stood at ₹2,804.16 lakhs in FY26. As of June 30, 2026, the Company had an order book of ₹49,112.12 lakhs across 21 ongoing projects, including data centre work orders of ₹12,000.00 lakhs.

The proposed fresh issue is intended to support working capital requirements and purchase of heavy equipment, supporting the Company’s execution capabilities and growth opportunities.”