Watrana Rentals IPO
UPCOMINGSMEUpcoming Issue
₹120.10 Cr
Opens
19 Nov 2026
- Price Band
- ₹232 – ₹245
- Lot Size
- 600
- Lot Value
- ₹1,47,000
- Open Date
- 19 Nov19 Nov 2026
- Close Date
- 23 Nov23 Nov 2026
- Min Investment
- ₹1,47,000
About Watrana Rentals
Provides material handling equipment rental solutions, trading of MHE, and related support services across industrial sectors
Use of IPO Proceeds
Promoters
Sanjeev Kumar Watrana
Managing Director · age 51
Pre-issue: 49.99%
Rajeev Kumar Watrana
Whole Time Director · age 48
Pre-issue: 49.99%
Investment Analysis
Quick Analysis: 2 strengths · 6 risk factors· Exchange: NSE SME
Strengths (2)
- •Diversified client base across multiple industrial sectors mitigates sector-specific risks
- •Experienced promoters and senior management with 14+ years in industrial sector
Risk Factors (6)
- •First public issue with no established market for securities; no assurance of active trading or price sustainability post-listing.
- •Issue price determined by book building process may not reflect actual market price after listing on NSE EMERGE.
- •Customer contract termination risk without cause and minimal notice could materially impact revenue and operations.
- •Collection risks from customer receivables could adversely affect financial results and operational performance.
- •Foreign exchange rate fluctuations and commodity price volatility may negatively impact financial performance.
- •Equity investment risks require careful consideration; investors may lose entire investment if unable to bear loss risk.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- GMP ₹16 (+6.5%), unofficial, as of 14 Nov 2026, 05:32 AM IST
GMP Trend
Latest: ₹16 (+6.53%)Quick Profit Calculator
Pre-filled: Issue Price = ₹245, Lot Size = 600 shares
Number of Lots
| Lots | Investment | At GMP | Profit | Return |
|---|---|---|---|---|
| 1 | ₹1,47,000 | ₹261 | +₹9,600 | +6.5% |
| 2 | ₹2,94,000 | ₹261 | +₹19,200 | +6.5% |
| 3 | ₹4,41,000 | ₹261 | +₹28,800 | +6.5% |
| 5 | ₹7,35,000 | ₹261 | +₹48,000 | +6.5% |
| 10 | ₹14,70,000 | ₹261 | +₹96,000 | +6.5% |
Estimated profit based on GMP. Actual listing price may vary.
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,47,000 |
| Retail (max) | 1 | 600 | ₹1,47,000 |
| S-HNI (min) | 2 | 1,200 | ₹2,94,000 |
| S-HNI (max) | 6 | 3,600 | ₹8,82,000 |
| B-HNI (min) | 7 | 4,200 | ₹10,29,000 |
Subscription Status
Subscription data will appear once bidding begins.
Weigh your chances
IPO Timeline
Issue Opens
19 Nov 2026 · Thu
Issue Closes
23 Nov 2026 · Mon
Bidding Cut-off (UPI Mandate)
23 Nov 2026 · 5:00 PM IST
Allotment
25 Nov 2026 · Wed
Listing
27 Nov 2026 · Fri
Issue Opens
19 Nov 2026 · Thu
Issue Closes
23 Nov 2026 · Mon
Bidding Cut-off (UPI Mandate)
23 Nov 2026 · 5:00 PM IST
Allotment
25 Nov 2026 · Wed
Listing
27 Nov 2026 · Fri
IPO Details
| Registrar | — |
| Exchange | NSE SME |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹120.10 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Oneview Corporate Advisors Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY24
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY24 | 130.12 | 18.05 | 18050.30 | 0.01 | 56.47% |
| FY23 | 86.12 | 8.52 | 8517.00 | 0.03 | 61.22% |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 |
|---|---|---|
| Total Income | 86.19 | 130.23 |
| EBITDA | 25.49 | 37.98 |
| Net Worth | 13.91 | 31.96 |
| Total Borrowings | 67.5 | 93.12 |
| Cash Flow — Operating | 16.85 | 31.01 |
| Cash Flow — Investing | -48.34 | -51.39 |
| Cash Flow — Financing | 31.56 | 19.35 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
0.0x
Price ÷ EPS
EPS (FY24)
₹18,050
Earnings per share
RoNW
56.47%
Return on net worth
ROCE
30.36%
as reported in filing
EBITDA margin
29.2%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | ₹14.00 Cr |
| Issued Capital | ₹10.01 Cr |
| Paid-up Capital | ₹10.01 Cr |
| Equity Shares (Pre-Issue) | 10,000 |
| Equity Shares (Post-Issue) | — |
Source: Watrana Rentals offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
- Rajeev Kumar Watrana(Promoter)+50.00%
- Sanjeev Kumar Watrana(Promoter)+50.00%
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Watrana Rentals's filing.
Source: Watrana Rentals offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB50.00%
- NII / HNI15.00%
- Retail35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Watrana Rentals offer document (DRHP/RHP).
Board & Management
Board of Directors (2)
- Amit Bansal
Independent Director
Bachelor of Laws from Chaudhary Charan Singh University, Meerut (2010); Associate member of ICSI (December 2007); Company Secretary (ICSI approved, February 02, 2017)
over 7 (seven) years in secretarial and legal related matters
- Rajesh Sharma
Independent Director
Bachelor of Commerce from B.N. Mandal University, Madhepura, Bihar (1995); Associate member of ICAI (November 16, 2006); Chartered Accountant (ICAI approved, August 14, 2015)
over 9 (nine) years
Key Managerial Personnel (2)
- Sanjeev Kumar Watrana₹1.00 Cr p.a.
Managing Director
- Gunjan Shah
Company Secretary and Compliance Officer
Bachelor's degree in Commerce from University of Calcutta (1999); Associate Member of ICSI (2014); Chartered Accountant and member of ICAI (May 2024)
over two years of professional experience
Source: Watrana Rentals offer document (DRHP/RHP).
Industry & Market
Industry figures as stated in Watrana Rentals's offer document.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Watrana Rentals Limited | — | 18.91 | 37.19 | 50.84 |
| Sanghvi Movers Ltd | 19.5 | 15.22 | 11.79 | 129.12 |
Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Watrana Rentals IPO opening?
The Watrana Rentals IPO opens on 19 Nov 2026 and closes on 23 Nov 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Watrana Rentals IPO?
The price band for the Watrana Rentals IPO is ₹232 to ₹245. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Watrana Rentals IPO?
The minimum lot size is 600 shares with a minimum investment of ₹1,47,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Watrana Rentals IPO today?
The latest Grey Market Premium for Watrana Rentals is ₹16 (+6.53%). GMP is unofficial data and is not a guarantee of listing price.
When will the Watrana Rentals IPO list on NSE and BSE?
The Watrana Rentals IPO is expected to list on 27 Nov 2026 on NSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Watrana Rentals IPO allotment status?
You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Watrana Rentals IPO a mainboard or SME issue?
Watrana Rentals is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Watrana Rentals IPO?
You can apply for the Watrana Rentals IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Watrana Rentals IPO?
The GMP-implied price (unofficial, not a forecast) is ₹261: the upper price band of ₹245 plus the latest grey market premium of ₹16, as of 14 Nov 2026, 05:32 AM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
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