Support and Resistance Levels
Past performance
About Oval Projects Engineering Ltd Oval Projects Engineering Limited, founded in October 2013 and headquartered in Agartala, Tripura, is an infrastructure services company specializing in engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services. Initially established as a private limited company, it transitioned to a public limited company on September 20, 2024. While its primary focus is the Oil & Gas sector, the firm has diversified into civil projects supporting urban development, including smart city initiatives.
Within the Oil & Gas industry, Oval Projects Engineering operates across upstream, midstream, and downstream activities, undertaking projects such as gas processing facilities, pipeline laying, directional drilling, terminal stations, and city gas distribution systems (CGD). It also provides O&M services for both natural gas and captive power plants. Outside the sector, it actively participates in civil infrastructure projects, positioning itself as a versatile EPC and O&M solutions provider.
The company boasts a solid project portfolio, having completed significant milestones such as the Gas Collecting Station survey in Tripura in 2016, a 66-km pipeline project and oil tank modifications in Rajasthan in 2017, and a reinforced thermoplastic pipeline installation in 2020. More recently, it has executed CGD projects in Jharkhand and Methanol Gantry EPC work in 2023. These projects highlight its technical expertise and consistent growth in infrastructure development.
Oval Projects Engineering Limited is preparing for an Initial Public Offering (IPO) to raise capital, offering 56,98,000 equity shares. This includes both a fresh issue of 53,08,000 shares and 3,90,000 shares through an offer-for-sale mechanism. The IPO presents an opportunity for traders to invest in a company with a focused specialization in oil & gas and urban infrastructure development, supported by an expanding project footprint and growth trajectory.