Vectras Enprocon Limited
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The capital markets are poised for the arrival of Vectras Enprocon Limited's's Initial Public Offering, targeting a total fundraise of 50,52,000 Shares. This comprises 38,02,800 Shares in new capital generation and ₹10.00 Cr in secondary market transactions through existing shareholders.
Investors can consider participating in this offering within the stipulated price range of ₹99 to ₹105, with each application lot consisting of 1200 shares. The IPO represents a milestone event in the company's corporate journey.
The subscription period commences on Oct 30, 2026 and will remain open until Nov 03, 2026. The basis of allotment will be announced on Nov 04, 2026, with trading expected to initiate on Nov 06, 2026 across the BSE platform.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Vectras Enprocon Limited is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating in the midstream and downstream segments of the oil and gas industry. The company specialises in developing pipeline networks, combined oil and gas stations and related infrastructure across multiple Indian states. Its business operations include mechanical, electrical and civil works for refineries, petrochemical complexes, gas processing units, oil and gas terminals and petroleum depots. As of August 31, 2025, its unexecuted order book for oil and gas station projects stood at ₹15,088.80 lakh, while its order book for oil and gas pipeline projects amounted to ₹18,327.88 lakh as of September 30, 2026. The company also undertakes allied civil and infrastructure projects, along with electrical, instrumentation, inspection, testing and safety auditing services for the oil and gas sector. Its capabilities cover the complete project lifecycle, including design, engineering, procurement, construction, testing and commissioning of pipelines and stations. The company has completed more than 3,34,000 inch-diameter piping works, 785 inch-kilometres of pipelines and four combined station projects. It serves both public-sector and private-sector oil and gas companies and maintains ISO certifications covering quality, safety, environmental management and instrumentation standards. As of September 30, 2026, Vectras Enprocon Limited had 990 employees across its various divisions.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Experienced Promoters: The promoters have over 15 years of experience in the oil and gas EPC industry, supporting project execution and customer relationships.
- Strong Revenue Growth: Revenue increased from ₹80.48 crore in FY2025 to ₹119.81 crore in FY2026, reflecting business expansion. The company also had outstanding orders worth ₹232.45 crore as of March 31, 2026.
- Specialised EPC Capabilities: The company provides engineering, procurement and construction services for oil and gas pipelines, combined stations and related infrastructure across India.
- Tender-Based Business: Revenue depends on winning competitive project tenders. Aggressive bidding and intense competition may reduce profit margins.
- High Working Capital Requirements: Security deposits, performance guarantees, work-in-progress and delayed customer payments can tie up funds and put pressure on liquidity.
- Project Execution Risks: Delays, cost overruns or difficulties in completing projects on time may affect profitability, cash flow and customer relationships.
- Naynesh Kanubhai Patel
- Maheshkumar Gopalbhai Patel
Vectras Enprocon Limited
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