Incorporated in February 2022, VANS Electroengineerings Limited is engaged in the manufacturing and supply of components used in traction power supply and overhead equipment systems for Indian railway electrification infrastructure, metro systems and renewable energy applications. Its products are primarily supplied to Indian Railways and railway contractors, and the Company operates from its registered office and manufacturing facility in Salem, Tamil Nadu.
The Company manufactures Single Pole and Double Pole Vacuum Circuit Breakers (VCBs) and Vacuum Interrupters (VIs) for applications including traction substations, sectioning posts, feeding posts and other railway electrification systems. Its product portfolio includes products approved by the Research Designs and Standards Organization (RDSO), and the Company has received approvals from the Central Organization for Railway Electrification (CORE), including “Approved Vendor” status for certain products.
The Company’s manufacturing facility is equipped with machinery including busbar multi-processing and horizontal bandsaw machines, along with in-house testing and quality control infrastructure. It also engages with the Korea Electrotechnology Research Institute (KERI), South Korea and Central Power Research Institute (CPRI), Bengaluru for product testing and compliance with standards including IEC 62505-1:2016 and IEC 62271-100/2017-07. These capabilities support the development and supply of products for railway, metro, industrial and special applications.
The Company is supported by promoters and management with experience across electrical and electronics engineering, railway infrastructure, switchgear manufacturing and industrial manufacturing. Its operations are focused on product development, engineering, manufacturing, quality control, sales and supply chain management.
As of August 31, 2026, the Company had 33 employees across manufacturing, product development, quality control, finance and accounting, administration and operations, and purchase and stores.
Competitive Strengths
- Niche Market Focus with Quality and Timely Delivery.
- Established Customer Base and Geographical Footprint.
- Quality Assurance Standards and RDSO-Approved Products.
- Core Engineering and Integrated Engineering, Assembly and Testing Capabilities.
| Purpose | Amount (₹ Cr) |
|---|---|
| To Meet Working Capital Requirements of the Company | ₹25 |
| General Corporate Purpose | — |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 17 | 5 | 7 |
| Revenue | 23 | 14 | 3 |
| PAT | 5 | 2 | 0 |
| EBITDA | 7 | 2 | 0 |
| Net Worth | 9 | 4 | 1 |
| Reserves | 7 | 2 | 0 |
| Total Borrowing | 3 | 1 | 5 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | 113.37 | 1,341,600 | 152,103,600 |
| NII / HNI | 1,032.51 | 403,200 | 416,310,000 |
| Retail (RII) | 675.16 | 940,800 | 635,188,800 |
| Market Maker | — | 146,400 | — |
| Total | 1.02 | 48,000 | 49,200 |
* Amount calculated at upper price band (₹118) · ** Total includes all investor categories
- 1 Initiation of Refund 06 Oct 2026
- 2 Credit of Shares to Demat 06 Oct 2026
- The IPO P/E of 24x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹7 compares to post-issue EPS of ₹5 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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