Important Dates
- IPO Open: 2 September 2025
- IPO Close: 4 September 2025
- Allotment Finalization: 8 September 2025
- Refund Initiation: 9 September 2025
- Demat Credit: 9 September 2025
- Listing Date: 10 September 2025 (BSE SME)
Price & Lot Size
- Price Band: ₹250 – ₹262 per share
- Lot Size: 400 shares
- Minimum Retail Investment: ₹1,04,800
Issue Structure
- Total Issue Size: Around ₹99.77 crore
- Fresh Issue: About ₹80.81 crore
- Offer for Sale (OFS): About ₹18.96 crore
- Total Shares Offered: ~38.08 lakh shares
Subscription Status (Day 1)
- Overall Subscription: ~2.4 times
- QIBs: ~3.5 times
- Retail: ~2.4 times
- NIIs: ~1.5 times
Grey Market Premium (GMP)
- GMP in range of ₹53 – ₹58 per share
- This indicates a possible listing price of ₹315 – ₹320, nearly 20% higher than the upper price band.
Company Overview
- Established: 1997
- Business Area: Civil and structural construction for industries like cement, healthcare, power, pharma, and institutions.
- Completed Projects: 19 projects worth over ₹1,134 crore.
- Ongoing Projects: 14 projects across 8 states, with an order book of nearly ₹596 crore (as of June 2025).
Financial Performance (FY25)
- Revenue: ₹594 crore (growth of 53%)
- Profit After Tax (PAT): ₹38 crore (growth of 69%)
- EBITDA: ₹58 crore
- Net Worth: ₹132 crore
- Total Assets: ₹265 crore
Use of IPO Funds
- Purchase of new equipment and vehicles – ₹41.7 crore
- Repayment of debt – ₹23 crore
- General corporate expenses – ~₹12 crore
Quick Snapshot
| Item | Details |
|---|---|
| IPO Price Band | ₹250 – ₹262 |
| Lot Size | 400 shares |
| Minimum Investment | ₹1.05 lakh |
| Issue Size | ~₹99.8 crore |
| Fresh Issue / OFS | ₹80.8 cr / ₹19 cr |
| Subscription (Day 1) | 2.4× overall |
| GMP | ₹53–58 |
| Listing Date | 10 Sept 2025 |
| FY25 Revenue | ₹594 crore |
| FY25 Profit | ₹38 crore |
