In Progress
Valuation
Market Cap
₹128.38 Cr
P/E Ratio
17.51x
P/B Ratio
10.30x
Vans Electro IPO Dates
Open
Close
Allotment
Refunds
Credit
Listing
Conflicting IPOs
IPOs with overlapping timeline
Business Overview
VANS Electroengineerings Limited is an ISO 9001:2015 certified company manufacturing and supplying components of traction power supply and overhead equipment systems used in Indian railway electrification infrastructure and metro systems, along with renewable energy systems. Its RDSO-approved portfolio includes Single and Double Pole Vacuum Circuit Breakers and Vacuum Interrupters, supplied mainly to Indian Railways and associated contractors, from its Salem, Tamil Nadu facility with in-house testing infrastructure.
Lots & IPO Size
Vans Electro IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 2,400 | ₹2,83,200 |
| Ind (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 |
Market Maker
₹1.46 L
Employee
₹48,000.00
Shareholder
₹0.00
Vans Electro IPO Size
Total
₹34 Cr
Fresh Issue
₹34 Cr
(0.29 Cr
Shares)
Offer For Sale
₹0
(0.00
Shares)
Objects of the Issue
To Meet Working Capital Requirements of the Company
General Corporate Purposes & Issue Expenses
Total
Key Risk Factors
The company's business and revenue are substantially dependent on Indian Railways; any adverse change in railway policy could lead to contract foreclosure, termination or renegotiation.
Key Risk Factors
The company's business and revenue are substantially dependent on Indian Railways; any adverse change in railway policy could lead to contract foreclosure, termination or renegotiation.
The company derives a significant portion of revenue (85.50% in FY26) from two key products - Vacuum Circuit Breakers and Vacuum Interrupters - making it vulnerable to any decline in their sales.
A significant portion of revenue is derived from a limited customer base; the top customer contributed 42.66% of FY26 revenue, exposing the company to customer concentration risk.
The company is contractually and commercially subject to stringent quality, performance and delivery obligations; failure to comply may result in claims, penalties or order cancellations.
The company depends on timely availability of raw materials from suppliers; its top supplier accounted for 25.24% of FY26 purchases, exposing it to supply disruption and price risk.
The company operates its manufacturing facility and registered office from rented/leased premises in Salem, Tamil Nadu; termination or non-renewal of leases could disrupt operations.
Significant fluctuations in trade receivables (57.53% of FY26 revenue), extended collection periods and business seasonality may adversely affect the company's working capital and cash flows.
The company experiences business seasonality, with FY26 second-half revenue at 75.33% of the total, which may cause operating results to fluctuate significantly between periods.
The company's business depends on its product engineering, assembling, testing and technical development capabilities; any deficiencies could adversely affect operations and reputation.
The company's restated financial statements were provided by a peer-reviewed chartered accountant who is not its statutory auditor, due to the statutory auditor's preoccupation.
Vans Electro IPO Details Live GMP
GMP
₹0
Est. Price
₹118
Est. Gain
0.00%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 25 Sep | ₹0 (0%) | ₹118 |
Vans Electro IPO Peer Comparison
There are no comparable listed peers in India as per the company
Vans Electro IPO Financial Performance
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue | 22.84 | 13.56 | 2.60 |
| Profit | 5.39 | 1.73 | 0.02 |
| Net Worth | 9.17 | 3.78 | 1.05 |
| Borrowings | 2.55 | 1.20 | 5.17 |
| Assets | 16.85 | 5.34 | 6.57 |
| NAV (₹) | 11.46 | 7.85 | 2.56 |
| EPS (₹) | 6.74 | 3.59 | 0.05 |
Key Performance Indicators (KPIs)
Debt to Equity
0.28
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Vans Electro IPO Financial Statements
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue from Ops | 22.84 | 13.56 | 2.60 |
| Other Income | 0.35 | 0.26 | 0.17 |
| Total Income | 23.19 | 13.82 | 2.76 |
| Material Consumed | 11.69 | 7.39 | 2.71 |
| Changes in Inventories | 0.66 | 0.90 | -1.78 |
| Employee Expense | 1.22 | 1.00 | 0.38 |
| Finance Costs | 0.23 | 0.35 | 0.08 |
| Depreciation | 0.08 | 0.07 | 0.06 |
| Other Expenses | 2.05 | 1.80 | 1.26 |
| Total Expenses | 15.93 | 11.51 | 2.71 |
| Profit Before Tax | 7.26 | 2.31 | 0.05 |
| Tax Expense | 1.87 | 0.58 | 0.03 |
| Profit After Tax | 5.39 | 1.73 | 0.02 |
| EPS — Basic (₹) | 6.74 | 3.59 | 0.05 |
| EPS — Diluted (₹) | 6.74 | 3.59 | 0.05 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Equity Share Capital | 2.00 | 2.00 | 1.00 |
| Reserves & Surplus | 7.17 | 1.78 | 0.05 |
| Total Equity | 9.17 | 3.78 | 1.05 |
| Total Borrowings | 2.55 | 1.20 | 5.17 |
| Trade Payables | 3.25 | 0.01 | 0.31 |
| Other Current Liab | 1.01 | 0.30 | 0.02 |
| Other Liabilities | 0.87 | 0.04 | 0.02 |
| Total Equity & Liab | 16.85 | 5.34 | 6.57 |
| Fixed Assets | 0.44 | 0.37 | 0.26 |
| Inventories | 2.20 | 1.57 | 3.14 |
| Trade Receivables | 13.14 | 0.39 | 2.14 |
| Cash & Bank Bal | 0.19 | 2.46 | 0.38 |
| Other Assets | 0.88 | 0.54 | 0.65 |
| Total Assets | 16.85 | 5.34 | 6.57 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Cash Flow from Operating Activities | -3.07 | 5.51 | -2.79 |
| Cash Flow from Investing Activities | -0.07 | -0.10 | -0.04 |
| Cash Flow from Financing Activities | 1.18 | -3.31 | 2.49 |
| Net Change in Cash & Equivalents | -1.96 | 2.10 | -0.34 |
| Cash & Equivalents at End of Period | 0.16 | 2.12 | 0.02 |
Promoter Holding
Promoter
90.75%
Public
9.25%
Hotspot Infodot Pvt Ltd
22.69%
Abhishek Saraff
20.19%
Nitin Jain
20.19%
Balakrishnan Srinivasan
12.69%
Sakthi
10.00%
Others
5.00%
Management
Balakrishnan Srinivasan
Age: 58
Chairman & Joint MD
Remuneration
₹Upto Rs.2,00,000 p.m. (Rs.24 Lakhs p.a., incl. perquisites & allowances)
Education
MBA-International Business, B.Sc. (Annamalai University); Diploma in Electronics & Communication Engg.
Prior Experience
35 years in electrical & electronics engineering; heads product development, engineering, production and operations.
Viraj Bansal
Age: 28
Joint MD
Remuneration
₹Upto Rs.2,00,000 p.m. (Rs.24 Lakhs p.a., incl. perquisites & allowances)
Education
M.Sc. Engineering Business Management (Univ. of Warwick); B.Tech Electrical & Electronics Engg. (VIT, Vellore)
Prior Experience
6 years experience incl. 3+ years in railway infrastructure, metal castings & switchgear manufacturing; heads sales, finance and SCM.
Pooja Bansal
Age: 52
WTD
Remuneration
₹Upto Rs.2,00,000 p.m. (Rs.24 Lakhs p.a., incl. perquisites & allowances)
Education
Not Available (unable to trace educational records)
Prior Experience
20+ years in business administration, procurement & general management; heads business planning, HR and admin.
Amisha Bisen
Age: 28
CFO
Remuneration
₹Not separately disclosed; appointed w.e.f. June 03, 2026
Education
PGDM (FS), Jaipuria Institute of Management, Lucknow; B.Com, University of Lucknow
Prior Experience
2+ years in finance, accounts and taxation; previously with Arakind Health Care Private Limited.
Registrar & Lead Managers
Registrar
Bigshare Services
Lead Managers (1)
Company Details
Name: Vans Electroengineerings Limited
Address: Plot 17, SIDCO Women's Industrial Estate, Karuppur, Salem - 636011, Tamil Nadu, India
Number: +91 9677114470
Email: cs@vanselectroengineerings.com
Website: https://vanselectroengineerings.com
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Frequently Asked Questions (FAQs)
What is Vans Electro IPO?
Vans Electro IPO is a SME IPO having an issue size of
₹34 Crs.
Vans Electro IPO is priced at
₹112 - ₹118 per
share.
The
issue opens on 29 Sep 26
and
closes on 01 Oct 26.
When will Vans Electro IPO open?
Vans Electro IPO opens on
29 Sep 26 and closes on
01 Oct 26.
What is the GMP of Vans Electro IPO?
The estimated Grey Market Premium of Vans Electro IPO is
₹0 per share (0.00%).
What is the lot size of Vans Electro IPO?
The minimum lot size of Vans Electro IPO is
1200 shares & the minimum application amount
is
Rs.
141600.
When is the allotment of Vans Electro IPO?
The allotment date of Vans Electro IPO is
05 Oct 26.
What is the listing date of Vans Electro IPO?
The listing date of Vans Electro IPO is
07 Oct 26.
What is the subscription of Vans Electro IPO?
Vans Electro IPO is subscribed
-.
What is the price band of Vans Electro IPO?
Vans Electro IPO is priced at
₹112 - ₹118 per
share.
How to check allotment status of Vans Electro IPO?
Click the allotment link on Vans Electro IPO page of IPO360.
How to apply Vans Electro IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Vans Electro IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Vans Electro IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Vans Electro IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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