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Watrana Rentals IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

Upcoming

NSE SME

PRICE BAND

Rs 232 - 245

LOT SIZE

600

Shares

MIN INVEST

Rs 1.5L

CUT-OFF

Rs 245

per share

Open

19 Nov 2026

Last Day

23 Nov 2026

Allotment

25 Nov 2026

Expected Refund

26 Nov 2026

Listing

27 Nov 2026

GMP Today

3m ago

+9%

+Rs 22 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 267

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 13,200

+9.0% (600 shares)

Subscription

-

Not open

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Current IPO Status: upcoming

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About Watrana Rentals

Material Handling Equipment Rental

The company provides rental and trading services for material handling equipment and aerial work platforms. Its business model supports industrial customers that require equipment for material movement, warehousing, logistics and other operational activities without necessarily purchasing the equipment outright. The company also supplies batteries and related equipment. Its operations are supported by a fleet of material handling equipment and a customer base across multiple industrial sectors. Its promoters are Sanjeev Kumar Watrana and Rajeev Kumar Watrana.

IPO_DETAILS_LONG: Watrana Rentals IPO is a book-built issue comprising a fresh issue of 49,02,000 equity shares aggregating up to approximately ₹120.10 Cr at the upper price band. There is no offer for sale, meaning the issue proceeds will go to the company. The price band is ₹232 to ₹245 per share, with a face value of ₹10 and a lot size of 600 shares. The minimum retail application is two lots, or 1,200 shares, amounting to ₹2,94,000 at the upper price band. The IPO opens on November 19, 2026 and closes on November 23, 2026. The tentative allotment date is November 25, refunds and demat credit are expected on November 26, and listing is scheduled for November 27, 2026 on NSE SME. The company intends to use ₹98.13 Cr towards purchasing material handling equipment, aerial work platforms and batteries. The remaining proceeds are intended for general corporate purposes and issue-related expenses.

Issue Details

Total Issue Size

Rs 120 Cr

Issue Size for Retail

Rs 42.04 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 120.1 Cr (100%)

Reservation Quota

QIB

50%

Retail

35%

NII

15%

Lead Manager

Oneview Corporate Advisors Private Limited

Registrar

Maashitla Securities Private Limited

Objects of the Issue (as per DRHP)

  • 1Purchase of material handling equipment (MHE), aerial work platforms (AWP) and batteries: 98.13 Cr
  • 2General corporate purposes and issue-related expenses

Key Performance Indicator (KPI)

KPIJun 30 2026Mar 31 2026
ROE8.59%41.08%
ROCE4.87%19.06%
Debt/EquityNA2.91
RoNW7.67%29.13%
PAT Margin14.37%13.80%
EBITDA Margin33.91%30.76%
Price to Book Value2.87
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)25.4918.80
P/E (x)9.6113.03
Promoter Holding100.00%73.50%
Market CapRs 400.34 Cr.

Sanjeev Kumar Watrana; Rajeev Kumar Watrana; Neha Watrana

Watrana Rentals Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26Q1 FY27 (30 Jun 2026)
Revenue130.23179.66211.6953.62
Net Profit (PAT)18.0524.4329.167.68
EBITDA37.9851.7765.0118.13
Borrowings93.12110.54164.08164.72
ROE--41.08%-
ROCE--19.06%-
Debt/Equity--2.91-
Assets147.69201.82287.07301.71

The latest interim period (Q1 FY27 (30 Jun 2026)) is separate from full financial years and is not annualised.

Company Financials

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MARKET SENTIMENT SCORE

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50
100
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NA

Based on expert reviews, GMP trends & market signals

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Company Contact Details

B-2 Third Floor Derawal Nagar Near Model Town Metro Station Gujranwala Colony North West Delhi Delhi 110009
+91 9289100302
[email protected]
Visit Website

Green Flags

  • The company operates in the material handling equipment rental segment, serving multiple industrial sectors.
  • Its business model provides rental equipment to customers who may prefer to avoid large upfront equipment purchases.
  • The company also trades in new and used equipment and related batteries.
  • FY26 total income increased to ₹211.69 Cr from ₹179.66 Cr in FY25.
  • FY26 PAT increased to ₹29.16 Cr from ₹24.43 Cr in FY25.
  • FY26 EBITDA increased to ₹65.01 Cr from ₹51.77 Cr in FY25.
  • The IPO is entirely a fresh issue, with no OFS component.
  • A substantial portion of the proceeds is intended for fleet and equipment expansion.

Red Flags

  • The company has relatively high borrowings of ₹164.08 Cr as of March 31 2026.
  • Debt-to-equity stood at 2.91 as of March 31 2026.
  • Borrowings increased from ₹110.54 Cr in FY25 to ₹164.08 Cr in FY26.
  • ROE declined sharply from 41.08% at March 31 2026 to 8.59% at June 30 2026.
  • ROCE declined from 19.06% at March 31 2026 to 4.87% at June 30 2026.
  • The minimum retail investment of ₹2,94,000 is relatively high.
  • The business requires significant capital investment in equipment and fleet maintenance.
  • Equipment utilisation depreciation maintenance costs and borrowing costs can affect profitability.
  • The company has a relatively short operating history as a public limited company.
  • === END ===

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Frequently Asked Questions

What is the price band of Watrana Rentals IPO?

The price band is Rs 232-245 per share. One lot contains 600 shares; its value at the upper price is Rs 1,47,000. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for Watrana Rentals IPO?

The scheduled bidding period is 19 Nov 2026 to 23 Nov 2026.

When is Watrana Rentals IPO scheduled to list?

The scheduled listing date is 27 Nov 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for Watrana Rentals IPO?

Maashitla Securities Private Limited is the registrar. See the allotment page for the available schedule and official checking link.

Who manages Watrana Rentals IPO?

Lead manager information recorded for this issue: Oneview Corporate Advisors Private Limited.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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