Vans Electroengineerings IPO

Name: Vans Electroengineerings IPO
Brand: Vans Electroengineerings
SKU: 544971
Availability: Discontinued

Listed SME

Min Investment

₹2,83,200

2400 Shares

Min Investment

₹2,83,200 · 2400 Shares

Price Band ₹112–118

Lot Size 1200 shares

Issue Size ₹34 Cr

Listed At ₹224.20 +90%

Subscribed 628.78×

Listed On BSE SME

Vans Electroengineerings IPO Listing Day Performance

Vans Electroengineerings listed on BSE SME on 07 October 2026 at ₹224.20, a 90% premium over the issue price of ₹118. A retail investor allotted the minimum application of 2,400 shares (2 lots) gained ₹2,54,880 at the listing price.

Issue price

₹118

upper band

Listing price

₹224.20

pre-open auction

Listing gain

+90%

+₹106.2 per share

Profit per application

+₹2,54,880

2,400 shares

GMP vs actual listing

Last GMP before listing	₹103 (+87.3%)
GMP-implied listing	₹221
Actual listing	₹224.20
Difference	+₹3.2 (+1.4%)

Demand going into listing

Subscribed overall	628.78×
QIB	281.65×
NII	1032.23×
Retail	686.27×

Listing price = opening price from the exchange's pre-open call auction on listing day. Watch live price

Market Sentiment

Grey Market Premium What is GMP?

Full history

+₹103

+87.3% ▲ ₹2 since last update

Est. listing ₹221

Upper price ₹118

GMP range ₹18 – ₹103

26 Sept · ₹18 06 Oct · ₹103

Updated 06 Oct, 12:57 pm IST Unofficial grey-market data

GMP estimate ₹221

Actual listing ₹224.2

Listed above the GMP estimate by ₹3.2 (+1.4%)

Subscription Status

Full details

QIB

281.65x

NII

1,032.23x

bNII (>10L)

1,172.98x

sNII (2-10L)

750.73x

Retail

686.27x

Employee

0.95x

Total

628.78x

Updated: Oct 01, 2026 5:59 pm IST

Analysis Score 86 / 100

Data: 80%

GMP Score · 44% weight 73

Subscription Score · 38% weight 100

Financial Health · 19% weight 90

Weighted average of the parts above; updates as GMP and subscription change. not investment advice.

IPO Details

Price Band	₹112–118 per equity share
Face Value	₹10 Per Equity Share
Lot Size	1200 shares (Min 2 lots · ₹2,83,200)
Total Issue Size	₹34.00 crore
Fresh Issue	Entire issue — no offer for sale, so all proceeds go to the company
Issue Type	Book build Issue
Lead Manager	Hem Securities Ltd.
Registrar	Bigshare Services Pvt. Ltd.
Promoters	Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal and Hotspot Infodot Pvt.Ltd
Listing at	BSE SME
BSE Code	`544971`
ISIN	`INE2SO401011`
Listing Price	₹224.20
Listing Gain	+90.00%

Day-wise Subscription (times subscribed)

QIB

0x D1

0.03x D2

282x Final

NII

2.1x D1

72.23x D2

1,032x Final

Retail

4.54x D1

102x D2

686x Final

Employee

0.08x D1

0.38x D2

0.95x Final

Total

2.66x D1

64.76x D2

629x Final

Each panel has its own scale.

Category	Day 1	Day 2	Final
QIB	0.00x	0.03x	281.65x
NII	2.10x	72.23x	1,032.23x
bNII > ₹10L	1.76x	69.20x	1,172.98x
sNII 2-10L	2.76x	78.12x	750.73x
Retail	4.54x	101.83x	686.27x
Employee	0.08x	0.38x	0.95x
Total	2.66x	64.76x	628.78x

Market Lot Size

Category	Lots	Shares	Amount (₹)
Retail Minimum	2	2,400	₹2,83,200
Retail Maximum	2	2,400	₹2,83,200
S-HNI Minimum	3	3,600	₹4,24,800
S-HNI Maximum	7	8,400	₹9,91,200
B-HNI Minimum	8	9,600	₹11,32,800

IPO Reservation

QIB 19.7% NII 14.7% Retail 34.4% Anchor 29.4% Employee & others 1.8%

Category	Shares Offered	Shares %
QIB	5,37,600	19.67%
NII (HNI)	4,03,200	14.75%
bNII > ₹10L	2,68,800	9.83%
sNII < ₹10L	1,34,400	4.92%
Retail	9,40,800	34.42%
Employee	48,000	1.76%
Anchor	8,04,000	29.41%
Total	27,33,600

Financial Analysis

Financial Data

EPS (Pre)

₹6.74

ROE

83.27%

ROCE

63.96%

RoNW

58.79%

EBITDA Margin

31.63%

Debt/Equity

0.28

NAV/Share

₹11.46

Revenue Growth

67.80%

Profit Margin

23.24%

Financial Performance

2026 vs 2025 Revenue +67.8% Profit (PAT) +211.6% Total Assets +215.5%

Metric	2024	2025	2026
Revenue	2.76	13.82	23.19
Expense	2.71	11.51	15.93
Profit (PAT)	0.02	1.73	5.39
Total Assets	6.57	5.34	16.85

Values in Crores (₹)

Strengths & Risks

Strengths

Heavily oversubscribed — 628.8x overall (final).
Strong institutional (QIB) demand — 281.7x.
Revenue grew 68% in the latest reported year.
Solid profit margin — 23.2%.
Strong return on equity — 83%.

Risks & Concerns

Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.

From this issue's live data. Not investment advice — read the RHP.

Purpose	Amount (Cr)
To Meet Working Capital Requirements of the Company	25.00
General Corporate Purpose	-

Resources & Documents

Anchor Investors

Anchor Bidding Date

September 28, 2026

Shares Offered to Anchors

8,04,000

Lock-in End (30 Days, 50%)

November 04, 2026

Lock-in End (90 Days, 50%)

January 03, 2027

IPO Documents

Draft Red Herring Prospectus Red Herring Prospectus Anchor Investor List

Vans Electroengineerings IPO - Quick Take

Vans Electroengineerings has set a price band of Rs 112–Rs 118 per share for an issue size of Rs 34 crore. The stock listed with a 90.00% gain versus its issue price on October 07, 2026.

The issue is promoted by Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal and Hotspot Infodot Pvt.Ltd with Hem Securities Ltd. acting as lead manager. Net proceeds will primarily be used towards to Meet Working Capital Requirements of the Company (Rs 25 crore) and general Corporate Purpose.

On fundamentals, the company is posting revenue growth of 67.8%, a profit margin of 23.2%, return on equity of 83.3% in its most recent reported period.

On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.

By IPO Cracker Editorial Team · Editorial Policy · Data Sources Last updated: Oct 07, 2026

Related guides: What is GMP? · Anchor Investor explained · Allotment Process · How to Apply · Compare with peers

This summary is built from exchange, RHP and registrar data. Not investment advice. How we score IPOs »

Vans Electroengineerings IPO: Lead Manager & Registrar Track Record

How the firm running this issue and its registrar have fared on the other IPOs we track. Each firm's figures leave out Vans Electroengineerings itself, so they describe what came before it.

SME IPOs, last 12 months

Vans Electroengineerings listed at +90% on day one; the median of 193 listings was +1.5% (better than 94% of them).
Subscribed 629x against a median of 3.98x across 192 issues (higher than 99%).
Average listing-day move across all 194 SME listings we track: +11.6%.

Lead manager and registrar record on other IPOs we track
Firm	Other IPOs	Listed at / above issue	Avg move	Median
Hem Securities Ltd. Lead manager	14 0 MB · 14 SME	93% 13 of 14	+25%	+16%
Bigshare Services Pvt. Ltd. Registrar	61 19 MB · 42 SME	67% 41 of 61	Check allotment →

Recent listings managed by Hem Securities Ltd. (5)

Best: Credent Connect N Care +90% · Weakest: Kasturi Metal Composite −1.3%

IPO	Listed	Listing-day move
HGS (India)	06 Nov 2026	+33.3%
Acme India Industries	09 Oct 2026	+12.8%
Century Business Media	21 Sep 2026	+0%
Raksan Transformers	18 Sep 2026	+0%
Qualiance International	11 Sep 2026	+77.1%

What a lead manager does

A SEBI-registered merchant banker that runs the issue: due diligence, drafting the offer document, setting the price band with the company, and marketing the IPO to investors.

What a registrar does

Finalises the basis of allotment, credits shares to demat accounts, releases blocked funds for unsuccessful bids and handles investor queries about the issue.

Listing-day move = exchange opening price vs issue price (band ceiling where the final price isn't recorded). Counts cover IPOs we track only. Past listings don't predict this one; this is not investment advice.

Frequently Asked Questions

Vans Electroengineerings listed at Rs 224.20 on 07 October 2026, against an issue price of Rs 118 — a 90% premium.

+90% at the listing price — Rs 106.2 per share, or Rs 2,54,880 on the minimum retail application of 2,400 shares.

The price band of Vans Electroengineerings IPO is Rs 112 to Rs 118 per share. Face value is Rs 10 per share.

The total issue size of Vans Electroengineerings IPO is Rs 34 crore, comprising fresh issue of Rs 34 crore.

The lot size of Vans Electroengineerings IPO is 1,200 shares. The minimum application is 2 lots (2,400 shares), requiring an investment of Rs 2,83,200.

Vans Electroengineerings IPO opens for subscription on September 29, 2026 and closes on October 01, 2026. Anchor investor bidding is scheduled for September 28, 2026.

The expected allotment date for Vans Electroengineerings IPO is October 05, 2026. Refunds for unsuccessful applicants are expected on October 06, 2026. Shares are scheduled to be credited to demat accounts on October 06, 2026.

Vans Electroengineerings IPO is scheduled to list on October 07, 2026 on BSE. BSE script code: 544971, ISIN: INE2SO401011.

The last GMP (Grey Market Premium) recorded for Vans Electroengineerings IPO before listing was +Rs 103 (+87.3% over issue price). The shares actually listed at Rs 224.2 (+90.00% versus the issue price). GMP only estimates the listing price and stops mattering once the shares trade.

Vans Electroengineerings IPO was subscribed 628.78 times overall by the close of bidding — retail at 686.27x, QIB at 281.65x, NII at 1,032.23x.

Based on the final retail subscription of 686.27x for Vans Electroengineerings IPO, the estimated retail allotment probability is approximately 0.17%. This is a low probability — approximately 1 out of every 100 retail applications may receive allotment.

The registrar for Vans Electroengineerings IPO is Bigshare Services Pvt. Ltd. After the allotment date, you can check your allotment status on the registrar's official website by entering your PAN, application number, or demat account details. Allotment status is also available on the BSE and NSE websites.

The book running lead manager(s) for Vans Electroengineerings IPO are Hem Securities Ltd.

The promoter(s) of Vans Electroengineerings are Balakrishnan Srinivasan, Viraj Bansal, Abhishek Saraff, Nitin Jain, Pooja Bansal and Hotspot Infodot Pvt.Ltd.

Vans Electroengineerings IPO GMP — What It Means

Its last GMP before listing was 87.3%. Of the 34 SME IPOs we have tracked with a final GMP of 25% or more, 34 listed above, 0 flat and 0 below the issue price; Vans Electroengineerings listed 90% above its issue price.

See the full Vans Electroengineerings GMP history and trend, or learn how grey market premium works and how reliable it is.

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