Vectras Enprocon IPO Day 2: Subscribed 1.29x; QIB Demand at 1.42x
Key Highlights
Vectras Enprocon IPO (₹38 crore SME IPO) was subscribed 1.29x on Day 2 of 3, with QIB at 1.42x. See category-wise subscription and day-wise bids.
Last updated: Mon, Nov 2, 2026, 10:30 PM IST · SME · · Day 2 of 3
- Vectras Enprocon IPO subscribed 1.29x overall on Day 2, up from 1.11x on Day 1
- Total bids: 46,57,200 shares against 36,13,200 shares on offer
- Category-wise: 1.42x, 1.10x, 1.33x
- Price band: ₹99 to ₹105 per share
- The issue closes on Tue, Nov 3, 2026
The Vectras Enprocon IPO reached a subscription multiple of 1.29x by the end of day 2 of 3 trading days, as of 10:30 PM IST on November 2, 2026. This reflects an increase from the 1.11x subscription recorded on the first day of the issue. The qualified institutional buyers (QIB), which are institutional investors like banks and mutual funds, emerged as the most-bid category at 1.42x.
Vectras Enprocon IPO Status: Day 2
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Fri, Oct 30, 2026 | 40,22,400 | 42.24 | 1.11x |
| Day 2 | Mon, Nov 2, 2026 | 46,57,200 | 48.90 | 1.29x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) | Day 2 bids | Day 2 (x) |
|---|---|---|---|---|---|
| QIB | 9,60,000 | 13,58,400 | 1.42x | 13,58,400 | 1.42x |
| NII | 9,73,200 | 9,36,000 | 0.96x | 10,69,200 | 1.10x |
| of which individual NII | — | 8,86,800 | — | 10,16,400 | — |
| of which other NII | — | 49,200 | — | 52,800 | — |
| Retail | 16,80,000 | 17,28,000 | 1.03x | 22,29,600 | 1.33x |
| Total | 36,13,200 | 40,22,400 | 1.11x | 46,57,200 | 1.29x |
All three investor categories have bid for more than their allocated shares, except for the non-institutional investors (NII) who bid at 1.10x. The retail category, which includes individual investors bidding up to ₹2 lakh, reached a subscription level of 1.33x. The total number of bids across all categories rose to 46,57,200 shares by the end of the second day, compared to 40,22,400 shares on the first day.
Vectras Enprocon IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Fri, Oct 30, 2026 to Tue, Nov 3, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹99 to ₹105 per share |
| Lot size | 2,400 shares |
| Total issue size | 50,52,000 shares (₹38 crore) |
| Listing at | BSE |
| Lead managers | Beeline Capital Advisors Pvt Ltd. |
| MUFG Intime India Pvt Ltd. |
About Vectras Enprocon
Vectras Enprocon Ltd. is a Gujarat-based Engineering, Procurement, and Construction (EPC) company operating in the midstream and downstream segments of the Oil & Gas industry. As per the DRHP, the company provides integrated solutions including combined station works, pipeline networks, and associated civil infrastructure, covering design, engineering, procurement, construction, testing, and commissioning. Its customers include entities in the public and private sectors within the Oil & Gas industry. Since its incorporation, the company has completed 3,34,393 inch dia piping, 785 inch kilometres of pipeline, and 4 combined station works.
Vectras Enprocon Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 1,198.02 | 804.80 | 543.19 |
| Total income (₹ crore) | 1,199.01 | 805.33 | 543.68 |
| Profit after tax (₹ crore) | 154.33 | 101.68 | 58.12 |
| Net worth (₹ crore) | 377.50 | 223.17 | 121.49 |
| Total borrowings (₹ crore) | 198.73 | 95.50 | 39.76 |
Revenue from operations grew to ₹1,198.02 crore in FY 2025-26 from ₹804.80 crore in FY 2024-25. Profit after tax rose to ₹154.33 crore in FY 2025-26, up from ₹101.68 crore in FY 2024-25. The company reported a debt-to-equity ratio of 0.53x at the end of FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Repayment / prepayment, in full or part, of certain outstanding borrowings | 14.00 |
| Funding long-term working capital requirement | 20.00 |
Risk Factors as per the DRHP
- The company faces high customer concentration risk, with the largest customer contributing 47.93% of revenue in FY 2025.
- The business is exposed to risks related to outstanding litigation against the company and its promoters.
- Potential regulatory hurdles exist regarding the process of obtaining or renewing necessary licenses and permits for operations.
How to Check Vectras Enprocon IPO Subscription Status
Live bidding figures are published by BSE while the issue is open. Once it closes, allotment status is published by the registrar, MUFG Intime India Pvt Ltd. (https://in.mpms.mufg.com/).
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Mon, Nov 2, 2026, 10:30 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.