Ravita Engineering SME IPO Closes October 16 2026: Subscription GMP and Allotment

The Ravita Engineering SME IPO closes October 16, 2026, bringing bidding to an end for the ₹116.05 crore NSE SME issue of Ravita Engineering Services Ltd. The book-built offer opened on October 14 with a price band of ₹105–112 per share, according to Chittorgarh IPO details and Economic Times Markets. If you still want in, you have until the exchange cut-off today. SME issues work a little differently from mainboard floats, and our IPO investing in India guide explains how.

Ravita Engineering SME IPO closes October 16: key terms

• Close date: Friday, October 16, 2026 (opened October 14).
• Price band: ₹105–112 per share; face value ₹5.
• Lot size: 1,200 shares; retail minimum is two lots (2,400 shares) costing ₹2,68,800 at the upper band. HNI minimum is three lots (3,600 shares) at ₹4,03,200.
• Issue size: up to ₹116.05 crore — entirely a fresh issue of about 1.04 crore shares (1,03,62,000 shares including market maker), with no offer for sale.
• Listing: tentative NSE SME listing on October 22, 2026; basis of allotment expected October 19; refunds and demat credit around October 21.

Chittorgarh’s issue summary and ET Markets’ open-day report give the same terms. Moneycontrol had earlier confirmed the ₹105–112 band and a post-issue market cap of about ₹422 crore at the upper price. Vivro Financial Services is the book-running lead manager, and MUFG Intime India is the registrar.

How the book looked going into the last day

Chittorgarh’s live subscription page showed the issue about 1.70× subscribed overall as of October 15, 2026 at 5:54 PM IST, the end of Day 2. NII led at 2.57×, retail was at 1.53× and QIB at 1.33×. These are interim numbers. The book stays open on October 16, and the final subscription will only be known after the close. Anchor investors had already taken ₹33.02 crore (29,48,400 shares at ₹112) on October 13, as listed on Chittorgarh.

The grey market read and where the money goes

InvestorGain, a grey-market tracker, last put the Ravita Engineering Services GMP near ₹2 a share against the ₹112 upper band, about +1.8%, as of late evening on October 15. ET Markets had noted about ₹4 when the issue opened on October 14. GMP is unofficial, speculative and not a guarantee of listing price or gains, so read it as a mood indicator next to the official subscription book and nothing more.

According to Chittorgarh’s objects table and ET Markets, most of the net proceeds will go to long-term working capital (about ₹70 crore) and to capital expenditure on heavy equipment (about ₹25.53 crore), with the remainder for general corporate purposes. Ravita does turnkey EPIC work on HVAC and related electromechanical systems for onshore, offshore and data-centre projects. ET Markets and Chittorgarh both put its FY26 total income at about ₹278 crore and PAT at about ₹28 crore.

Day-2 demand was already above one time in every category, but the final session will still shape the closing book. Once the basis of allotment is out, you can track your allotment from October 19 through the registrar, and the wider tape is on stock market today India. We also covered another issue closing the same day in our note on the Fusion CX IPO close.