Vans Electroengineerings IPO
Vans Electroengineerings LtdSME
This IPO opens on 29 Sep 2026.
- Open date
- 29 Sep 2026
- Close date
- 1 Oct 2026
- Min. Investment
- ₹2,83,200
- Lot Size
- -
- Fresh Issue
- ₹33.98 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.00x
- Total0.00x
Schedule
- Current step: IPO open date29 Sep 2026
- Upcoming: IPO close date1 Oct 2026
- Upcoming: Allotment date5 Oct 2026
- Upcoming: Funds unblock or debit6 Oct 2026
- Upcoming: Tentative listing date7 Oct 2026
About
Promoter shareholding in Vans Electroengineerings Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Balakrishnan Srinivasan | 10,15,000 | 12.69% | 10,15,000 | 9.33% |
| Abhishek Saraff | 16,15,000 | 20.19% | 16,15,000 | 14.84% |
| Nitin Jain | 16,15,000 | 20.19% | 16,15,000 | 14.84% |
| Hotspot Infodot Private Limite | 18,15,000 | 22.69% | 18,15,000 | 16.68% |
| Sakthi | 8,00,000 | 10.00% | 8,00,000 | 7.35% |
| Priyanka Saraff | 2,00,000 | 2.50% | 2,00,000 | 1.84% |
| Mahima Jain | 2,00,000 | 2.50% | 2,00,000 | 1.84% |
Vans Electroengineerings IPO Strengths & Risks
- Niche Market Focus with Quality and Timely Delivery.
- Quality Assurance Standards and RDSO Approved Entity.
- Core Engineering and Integrated Engineering, Assembling and Testing Capabilities.
- Established Customer Base and Geographical Footprint.
- Experienced and Qualified Promoters.
- Risks Relating to the Business: Our business and revenue are substantially dependent on the Indian Railways. Any adverse change in policy of the Indian Railways may lead to our contracts being foreclosed, terminated, restructured or renegotiated, which may have a material effect on our business and results of operations.
- Risks Relating to the Business: We derive a significant portion of our revenue from the sale of our two-key product verticals i.e. Vacuum Circuit Breakers and Vacuum Interrupters. Any decline in the sales of our key product/s could have an adverse impact on our business, results of operations and financial condition.
- Risks Relating to the Business: A significant portion of our revenue from operations is derived from a limited number of customers and our inability to maintain existing customer relationships or secure repeat business may adversely affect our business and results of operations.
- Risks Relating to the Business: We are contractually and commercially subject to stringent quality, performance and delivery obligations and any failure to comply with such obligations may expose us to claims, penalties, cancellation of orders and reputational harm.
- Risks Relating to the Business: We depend on the timely availability of raw materials and components from suppliers, and any disruption in supply, increase in prices or inability to procure such materials may adversely affect our business.
- Risks Relating to the Business: We operate our manufacturing facility and registered office from rented and leased premises and any termination, non-renewal or disruption in our lease arrangements may adversely affect our business operations.
- Risks Relating to the Business: Significant fluctuations in trade receivables, extended collection periods, and business seasonality may adversely affect our working capital, liquidity, and operational cash flows.
- Risks Relating to the Business: We experience the effects of seasonality, which may result in our operating results fluctuating significantly and also, reduce our sales.
- Risks Relating to the Business: Our business depends on our product engineering, assembling and testing and technical development capabilities and any deficiencies in such capabilities may adversely affect our operations and reputation.
- Risks Relating to the Business: The restated financial statements have been provided by a peer-reviewed chartered accountant who is not a statutory auditor of our Company.
- Risks Relating to the Business: Standardized railway procurement procedures, contractual conditions and compliance requirements may limit our commercial flexibility and increase operational obligations.
- Risks Relating to the Business: Optimizing our manufacturing capacity remains a key driver for maximizing operational efficiency and profitability. Any under-utilisation might affect our business operations adversely and impact financial position.
- Risks Relating to the Business: Our business requires substantial working capital and any inability to obtain adequate financing or effectively manage working capital requirements may adversely affect our operations and growth plans.
- Risks Relating to the Business: Our cash flows may fluctuate significantly from period to period, and any negative cash flow from operations or deterioration in operating cash flows may adversely affect our business and financial condition.
- Risks Relating to the Business: Certain regulatory, statutory and corporate compliance matters have occurred in the past and any adverse action by regulatory authorities may affect our business, financial condition and reputation.
- Risks Relating to the Business: Although the delays in remittance of provident fund contributions and ESIC contributions have been regularized and the applicable dues have been paid, there can be no assurance that the relevant statutory authorities will not initiate or continue proceedings, levy interest, damages, and penalties or take any other regulatory action in relation to such past delays or any other historical non-compliances. Any such action may result in financial liabilities, increased compliance costs, diversion of management time and resources, reputational harm and could materially and adversely affect our business, financial condition, cash flows and results of operations.Our operations require various approvals, registrations, certifications and licenses and any failure to obtain, renew or maintain such approvals may adversely affect our business.
- Risks Relating to the Business: There are certain discrepancies/errors and delay noticed in some of our corporate records relating to forms filed with the Registrar of Companies under the Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for such discrepancies and delay in such compliances could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: Our Company was incorporated on February 07, 2022; thus, we have limited operating history as a Company which may make it difficult for investors to evaluate our historical performance or future prospects.
- Risks Relating to the Business: Our business is substantially dependent on a single manufacturing facility and is exposed to various operational risks, shutdowns, and disruptions, which could materially and adversely affect our business, financial condition, cash flows, and results of operations.
- Risks Relating to the Business: Defects, malfunctions or failures in our products may expose us to warranty obligations, liability claims, contractual disputes and reputational damage.
- Risks Relating to the Business: Our historical performance is not indicative of our future growth or financial results and we may not be able to sustain ourhistorical growth rates despite significant increases in Revenue from Operations and Profit after Tax.
- Risks Relating to the Business: Demand for our products is closely linked to growth in railway electrification, railway modernization and infrastructuredevelopment and any slowdown in such sectors may adversely affect our business.
- Risks Relating to the Business: Failure to adequately protect our trademarks, brand identity, technical know-how and other intellectual property rights mayadversely affect our competitive position.
- Risks Relating to the Business: Certain borrowings availed by our Company may be supported by personal guarantees and any withdrawal, invocation orinability to continue such support may adversely affect our financing arrangements.
- Risks Relating to the Business: Our future growth depends significantly on our ability to secure new purchase orders and successfully convert businessopportunities into revenue-generating contracts.
- Risks Relating to the Business: The product trials or testing done by customers may become unsuccessful if any technical issue is identified during suchtrials. Further, after selling, failure to offer client support in a timely and effective manner may adversely affect ourrelationships with our clients and have an adverse impact on results of operations and financial conditions.
- Risks Relating to the Business: One of our Director and Promoter i.e. Abhishek Saraff is Director and Promoter of our Promoter Group Entity i.e. AvadhRail Infra Limited (Formerly known as Madras Elastomers Limited)("ARIL"), which is listed on Calcutta Stock Exchange(CSE) and is in process of voluntary delisting of its equity shares from the Calcutta Stock Exchange.
- Risks Relating to the Business: Our insurance coverage may not be adequate to protect us against all potential losses arising from our business operations.
- Risks Relating to the Business: Our success depends significantly upon the continued services of our promoters, directors, key managerial personnel andsenior management.
- Risks Relating to the Business: Our business may be exposed to risks arising from the operations of Infowin Electric Private Limited, our subsidiary, whichmay have overlapping product and market opportunities with the Company in the electrical equipment sector.
- Risks Relating to the Business: Inability to adopt evolving technologies, manufacturing techniques and product innovations may adversely affect our competitiveness and future growth.
- Risks Relating to the Business: Our manufacturing operations are exposed to operational risks including equipment failures, process disruptions, accidents and production inefficiencies.
- Risks Relating to the Business: Any shortage, interruption or increase in the cost of electricity and utilities may adversely affect our manufacturing operations and profitability.
- Risks Relating to the Business: We may not declare or pay dividends in future and our shareholders may not receive any return on investment through dividend distributions.
- Risks Relating to the Business: We rely on third-party logistics providers for transportation and delivery of products and any disruptions in such arrangements may adversely affect our operations and customer relationships.
- Risks Relating to the Business: Our order book may not be indicative of future revenues, profitability or operational performance and investors should not place undue reliance on our order book as an indicator of future results.
- Risks Relating to the Business: Our ability to successfully introduce and commercialize new products is subject to market acceptance, customer approvals and successful execution of our product development initiatives.
- Risks Relating to the Business: A portion of our business is secured through competitive bidding and tendering processes and failure to successfully compete for such contracts may adversely affect our revenues and future growth.
- Risks Relating to the Business: The educational qualification documents of one of our Promoter and Whole Time Director, Pooja Bansal, are not traceable and her educational qualification has been disclosed as "Not Available" in the Red Herring Prospectus.
- Risks Relating to the Business: Certain of its investments may be subject to market risk and the company has not made any provisions for a possible decline of the value of such investments.
- Risks Relating to the Business: Natural disasters, pandemics, public health emergencies and other force majeure events may adversely affect the company's business operations and financial performance.
- Risks Relating to the Business: Geopolitical developments, international trade restrictions, disruptions affecting overseas testing agencies, supply chains or certification processes may adversely affect the company's business operations.
- Risks Relating to the Business: Negative publicity concerning the Company, Promoters, Directors, employees, suppliers, customers or the industries in which the company operates may adversely affect its reputation and business prospects.
- Risks Relating to the Business: Fraud, theft, cyber incidents, employee negligence, internal control failures or other misconduct may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company's Promoters will continue to exercise significant influence over the Company after completion of the Issue and their interests may differ from those of other shareholders.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- Risks Relating to the Business: The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company profitability adversely.
- Risks Relating to the Business: The company is subject to the risk of failures of, or a material weakness in, its internal control systems.
- Risks Relating to the Business: The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- Risks Relating to the Business: Any non-compliance with, and changes in, safety, health and environmental laws and labour regulations may adversely affect the company's business, prospects, financial condition and results of operations.
- Risks Relating to the Business: The Company has unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans may adversely affect its cash flows.
- Risks Relating to the Business: The company has issued Equity Shares in the last 12 months at a price which could be lower than the Issue Price.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters, could be lower than the price determined at time of filing the Red Herring Prospectus.
- Risks Relating to the Business: Its Group Company had incurred losses in past which could adversely affect the results of operations and financial conditions of its group company.
- Risks Relating to the Business: Any future issuance of Equity Shares, convertible securities or other equity linked securities by the company and any sale of Equity Shares by its significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Employee misconduct or failures of its internal processes or procedures could harm the company by impairing its ability to attract and retain customers and subject the company to significant legal liability and reputational harm.
- Risks Relating to the Business: The company's Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Risks Relating to the Business: In addition to normal remuneration, other benefits and reimbursement of expenses to the company's Promoters, they are interested to the extent of their shareholding and dividend entitlement thereon in the Company.
- Risks Relating to the Business: There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: The determination of the Price Band is based on various factors and assumptions, and the Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue.
- Risks Relating to the Business: Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Risks Relating to the Business: The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- Risks Relating to the Business: The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE Limited (BSE SME) in a timely manner or at all.
- Risks Relating to the Business: Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors assessments of the company's financial condition, result of operations and cash flows.
- Risks Relating to the Business: Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
