Oval Projects Engineering Ltd

New orders secured (Apr 2026–Aug 2026)

• Government of Tripura PWD awarded ₹13.45 crore for Asharambari H.S. School infrastructure.
• IGGL last-mile gas connectivity inside Numaligarh Refinery under North-East Gas Grid Project worth ₹7.10 crore.
• CPWD (Govt of India) balance electromechanical works for NIT Agartala swimming pool; ₹6.79 crore.

Project completions (to date)

• IGGL Pipeline Project: completed 730 metres HDD across Barak River.
• AGCL station works completed successfully.
• ASCL beautification of MG Bazar Pond completed.
• IOCL CGD pipeline laying at Koderma completed.

Outlook and management focus

• Disciplined execution, timely completion and cash-flow discipline to drive sustainable growth.
• Focus on selective opportunities aligned with capabilities.

Issue Overview

• IPO of equity shares; fresh issue.
• Fully subscribed; no undersubscription; net proceeds available post-IPO expenses.
• Main objectives: working capital, general corporate purposes, and issue expenses.

Utilisation of Proceeds

• Utilisation as disclosed; no material deviations from the offer document.
• Payments were preponed; no change in financing for objects.
• Working capital: end-quarter utilisation partial and ongoing.
• General Corporate Purpose: largely utilised; small unutilised balance.
• Issue Expenses: largely utilised; small unutilised balance.
• Unutilised funds are parked in fixed deposits and a monitoring account.

Governance and Compliance

• All statutory approvals related to the objects obtained; principal approval from BSE.
• No material events affecting viability reported.
• No other material information reported.

GCP

• GCP utilised: 3.85; unutilised: 0.09.
• Board approval for allocation not explicitly stated.

Compliance status

• Securities received for dematerialisation processed within 15 days of receipt by Depositories.
• Dematerialised security certificates mutilated and cancelled; Depository named as registered owner within 15 days.
• Updated Depository and stock exchange records; Register of Members updated within 15 days.
• Securities after dematerialisation listed on all relevant stock exchanges.