Ravita Engineering Services Ltd., founded in December 2007, specializes in EPIC contracts for HVAC, central air-conditioning, air flow systems, chillers, compressors, cooling equipment, and other electromechanical systems on a turnkey basis for commercial, industrial, offshore rigs, and platforms. They also offer operation and maintenance services for their projects and third-party systems.
The company also engages in the execution of a specialised niche engineering project, viz., laying of sub-sea discharge pipelines for the effluent treatment plant (“ETP”) at Paradeep, Odisha.P”) at Paradeep, Odisha.
The company's business operations fall into three areas of expertise, namely, (i) Onshore; (ii) Offshore; and (iii) Data Centre.
The company has undertaken its Onshore operations in states like Gujarat, Maharashtra, Odisha and Karnataka.
Its offshore operations occur at rigs, platforms, and marine installations in India's territorial waters.
The company's Data Centre operations include maintaining cooling systems, chiller plants, HVAC, and utilities to ensure uptime, reliability, and temperature control. They currently serve a large Indian conglomerate at their Navi Mumbai data center. As of December 31, 2025, our order book for Data Center O&M services was ₹ 7,403.63 lakhs.
Competitive Strength
- Comprehensive electro-mechanical engineering capabilities with separate EPIC and O&M service offerings.
- Balanced revenue mix with short to medium tenor project execution cycle and multi-year O&M contracts
- Long-standing relationships with large clients supporting repeat business.
- Management-driven domain expertise and industry relationships.
- Specialised operational experience in adverse environments and mission‑critical data centres.
| Purpose | Amount (₹ Cr) |
|---|---|
| To meet long-term working capital requirements of the Company | ₹66 |
| Funding capital expenditure requirements of our Company towards purchase of certain heavy equipment | ₹25 |
| General Corporate Purposes | — |
| Metric | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 147 | 58 | 9 |
| Revenue | 208 | 109 | 14 |
| PAT | 21 | 12 | 2 |
| EBITDA | 30 | 16 | 3 |
| Net Worth | 93 | 15 | 3 |
| Reserves | 92 | 15 | 3 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | 1.33 | 1,969,200 | 2,612,400 |
| NII / HNI | 2.57 | 1,476,000 | 3,796,800 |
| Retail (RII) | 1.53 | 3,446,400 | 5,275,200 |
| Market Maker | — | 522,000 | — |
| Total | 1.70 | 6,891,600 | 11,684,400 |
* Amount calculated at upper price band (₹112) · ** Total includes all investor categories
- 1 Initiation of Refund 21 Oct 2026
- 2 Credit of Shares to Demat 21 Oct 2026
- The IPO P/E of 15x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹4 compares to post-issue EPS of ₹7 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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