New Delhi, Apr 1 Bvishal Oil and Energy, a provider of onshore oilfield services, has filed preliminary papers with the capital markets regulator, Sebi, to raise funds through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP) filed on Tuesday, the proposed IPO includes a fresh issue of 1.8 crore shares, along with an offer for sale (OFS) of 77.09 lakh shares.
The Gujarat-based company plans to use the proceeds from the fresh issue for capital expenditure and working capital requirements.
Of the fresh issue, Rs 120.9 crore will be allocated to acquire machinery and equipment to expand and strengthen operational capabilities, around Rs 45 crore will be used for working capital requirements, and a portion will be for general corporate purposes.
Bvishal Oil and Energy provides integrated onshore oilfield services across the lifecycle of oil and gas wells, covering exploration, production, and maintenance.
Its core service portfolio includes well intervention and stimulation, surface production testing and gas processing, operations and maintenance (O&M), as well as production enhancement services (PES) and enhanced oil recovery (EOR).
As of February 2026, the company, along with its subsidiaries, reported an order book of Rs 660.85 crore. It has executed 86 projects with a total value of Rs 689.24 crore.
The company’s listed peers include Deep Industries, Hindustan Oil Exploration Company, Selan Exploration Technology, Akash Exploration Services, and Asian Energy Services.
Financially, the company posted revenue from operations of Rs 174 crore in FY25 compared to Rs 181 crore in the preceding fiscal. Profit for the period stood at Rs 30.91 crore in FY25 against Rs 31.63 crore in FY24.
Unistone Capital is acting as the sole book-running lead manager to the issue.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.