Oval Projects Engineering Ltd IPO

The Company was originally incorporated as `Oval Projects Engineering Private Limited' as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 7, 2013 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, the Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the Company at the extraordinary general meeting held on August 14, 2024 and the name of the Company was changed to `Oval Projects Engineering Limited' and a fresh certificate of incorporation, consequent upon conversion to a public limited company dated September 20, 2024, was issued to the Company by the Registrar of Companies, Central Processing Centre.

Global oil demand in 2025 is expected to grow by 1.3 mb/d, y-o-y, unchanged from last month's assessment. Some minor adjustments were made in 1Q25, mainly due to the receipt of actual data. In the OECD, oil demand is expected to expand by about 0.1 mb/d, while non-OECD demand is forecast to increase by about 1.2 mb/d in 2025. In 2026, world oil demand is projected to rise by 1.3 mb/d, y-o-y, also unchanged from last month's assessment. The OECD is anticipated to grow by around 0.1 mb/d, y-o-y, in 2026, while demand in the non-OECD is expected to increase by about 1.2 mb/d, y-o-y. India holds a significant position in the global oil and gas industry due to its large and growing energy market. The EPC market for oil and gas in India has witnessed a growth rate of 10% CAGR over the past five years, driven by a) India's pipeline network has expanded significantly, with projects such as the Jagdishpur-Haldia-Bokaro-Dhamra Pipeline (JHBDPL) and North East Gas Grid gaining traction. b) The government's ambitious target of establishing CGD networks in over 400 districts has catalyzed demand for EPC services. C) Major refinery upgrades and capacity additions, including the Ratnagiri Refinery and Petrochemicals project, have bolstered EPC opportunities.

We are primarily an infrastructure services company engaged in the business of providing engineering, procurement and construction (EPC) industrial infrastructure services and operations and maintenance (O&M) services to our PAN India customers especially in the Oil & Gas sector. Headquartered at Agartala-Tripura, we commenced our business operations as a project management consultancy company. Over the last decade, we have expanded and diversified our business services to EPC, O&M and other infrastructure services and constantly improved our business processes.