Ravita Engineering Services closed its SME IPO on 16 October 2026. Its final prospectus sets an indicative 22 October start for trading on NSE Emerge.
The 16 October prospectus confirms a fresh issue of 1,03,62,000 shares at ₹112 each, aggregating ₹116.0544 crore. There is no offer-for-sale component. The issue opened on 14 October, following anchor bidding on 13 October.
The timetable matters because earlier reports carried a 21 October listing date. The final prospectus instead places refunds and demat credit on or about 21 October, with trading on or about 22 October. These remain indicative dates; an exchange admission notice and actual trading would establish the completed listing milestone.
Where the money is intended to go
The company estimates net proceeds of ₹104.4352 crore after issue expenses. Its proposed allocations are ₹70 crore for long-term working capital, ₹25.5292 crore for heavy equipment and ₹8.906 crore for general corporate purposes.
Working capital is the largest allocation. For a project engineering business, cash must support procurement and execution while customer collections follow contractual billing and payment cycles. Ravita says additional working capital is intended to support its requirements in fiscal 2027 and fiscal 2028. The planned allocation is financing capacity, rather than evidence that new contracts or revenue have already materialised.
The equipment allocation would increase its owned asset base. Actual purchases and deployment will show how that spending changes execution capacity. The IPO value should therefore not be described as a new ₹116.05 crore factory or wholly as equipment investment.
The company
Based in Salt Lake, Kolkata, Ravita also has an office in Belapur, Maharashtra.
Ravita provides engineering, procurement, installation and commissioning services for HVAC and related electromechanical systems, alongside operations and maintenance. Its disclosed business spans commercial and industrial establishments, including offshore installations.
What to watch next
The immediate milestone is confirmation of listing and commencement of trading. Thereafter, the useful operating evidence will be deployment of proceeds, equipment purchases, collections and contract execution. Neither an IPO nor a proposed use of funds establishes completed expansion.
Source: Ravita Engineering Services final prospectus, dated 16 October 2026, cover and printed pages 84–85, 109–110 and 329.