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Vans Electroengineerings SME IPO Review

Vans Electroengineerings SME IPO has been reviewed by 1 analyst, and the overall consensus is Strong Apply — carrying a score of 100. Out of the 1 analysts who have covered this IPO, 1 recommend subscribing — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹112-118 per share, with a minimum application size of 1200 shares (minimum investment of approximately ₹141,600 at the upper band). Subscription ran from 29 Sep 2026 to 01 Oct 2026. The issue size is ₹34 crore, entirely a fresh issue. As of now, the grey market premium (GMP) for Vans Electroengineerings SME IPO is quoting at ₹103 (87.29%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
100/ 100
Strong Apply 1 of 1 recommend subscribing
How analysts voted
Apply 1
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Vans Electroengineerings, based in Salem, makes vacuum circuit breakers, vacuum interrupters and overhead equipment parts for railway traction power, metro and renewable energy uses. Coverage is thin at one note, which gave no rating. Total income rose to ₹23.19 crore in FY26 from ₹2.76 crore in FY24, and profit to ₹5.39 crore from ₹0.02 crore.

Listing gains

At the upper band of ₹118 the note values the ₹33.98 crore issue at 23.81 times post-issue earnings and 10.30 times book, and calls this a relatively premium valuation on both counts. One source is a limited basis for a listing view, but the premium the note describes points to a muted listing.

Short-term strategy

The whole issue is fresh, and the proceeds go to working capital and general corporate purposes. The note shows why: trade receivables rose sharply in FY26, and net capital turnover fell from 6.41 times to 3.74 times, which it reads as more capital tied up in operations. Borrowings were modest at ₹2.55 crore in FY26.

Long-term strategy

The note credits specialised products whose mandatory railway approvals create entry barriers. The risks are concentration: over 90% of revenue is linked to Indian Railways and its contractors, the top customer gave 42.66% of FY26 revenue, and circuit breakers and interrupters made up 85.50%. The long-term view in the note rests on continued railway demand, with concentration as the main risk.

How this is written: an AI-assisted summary of the 2 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

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Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Analyst Verdict Report
Not Rated PDF
Apply PDF

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Frequently asked

Should I apply for Vans Electroengineerings SME IPO?

The analyst consensus for Vans Electroengineerings SME IPO tracked on this page is Strong Apply, with a score of 100/100. Out of 1 analyst who have reviewed this IPO, 1 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 100 mean for Vans Electroengineerings SME IPO?

The score of 100 is an aggregate of all analyst ratings tracked for Vans Electroengineerings SME IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Vans Electroengineerings SME IPO?

Vans Electroengineerings SME IPO listed on October 7, 2026 at ₹224.2, against the issue price of ₹118 — a gain of +90% (₹106.2 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Vans Electroengineerings SME IPO?

Vans Electroengineerings SME IPO was priced at ₹112-118 per share. The minimum lot size is 1200 shares, making the minimum investment approximately ₹141,600 at the upper end of the price band. Subscription ran from 29 Sep 2026 to 01 Oct 2026.

Explore Vans Electroengineerings SME IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Vans Electroengineerings SME IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
100 / 100
Listed at
₹224.2
Full IPO details
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