Srinibas Pradhan Constructions Limited is coming out with a small-cap NSE SME IPO of about ₹20.32 crore, a book-built issue in the ₹91–₹98 price band, aimed at funding working capital, partial debt repayment and general corporate purposes.
Srinibas Pradhan Constructions IPO – Key Details
|
Item |
Details |
|
IPO Name |
Srinibas Pradhan Constructions Limited IPO |
|
Exchange |
NSE SME |
|
IPO Type |
Book Built Issue – Fresh + OFS |
|
Issue Size |
20,73,600 shares (approx ₹20.32 crore at upper band) chittorgarh+2 |
|
Fresh Issue |
17,13,600 shares (~₹16.79 crore) |
|
Offer for Sale (OFS) |
3,60,000 shares (~₹3.53–4 crore) by existing shareholders chittorgarh+1 |
|
Face Value |
₹10 per share chittorgarh+1 |
|
Price Band |
₹91 – ₹98 per share chittorgarh+2 |
|
Lot Size (NSE SME) |
1,200 shares per lot chittorgarh+3 |
|
Bidding Dates |
6 March 2026 – 10 March 2026 chittorgarh+3 |
|
Minimum Application |
2 lots = 2,400 shares ≈ ₹2,35,200 at upper band (retail) chittorgarh+3 |
|
Allotment Date |
11 March 2026 (tentative) chittorgarh+3 |
|
Refunds / Demat Credit |
12 March 2026 chittorgarh+4 |
|
Listing Date |
13 March 2026 on NSE SME chittorgarh+3 |
|
Pre-IPO Shares |
61,47,397 shares |
|
Post-IPO Shares |
78,60,997 shares |
Sector: Infrastructure developers & operators, primarily civil construction/infra works.
Objective of the Issue – How the Money Will Be Used
According to the offer documents/summary:
- Working capital: About ₹11.55 crore to fund the company’s day‑to‑day working capital needs (site expenses, materials, labour etc.).
- Debt repayment: Around ₹1 crore to partially repay existing loans of the company.
- General corporate purposes: Balance proceeds for general corporate / strategic initiatives (business expansion, admin expenses, contingencies etc.).
This is a typical SME infra IPO structure – primarily working capital + balance sheet strengthening.
Business Snapshot
Incorporated 2020, engaged in civil construction/infrastructure projects, likely roads, buildings, and related works (per infra developer classification).
Company Financials (Restated Consolidated)
The company has shown steady growth in its financial performance over the years. As of September 30, 2025, the company’s total assets stood at ₹56.67 crore, slightly higher than ₹55.76 crore as of March 31, 2025, and significantly higher compared to ₹20.83 crore in FY2024 and ₹6.50 crore in FY2023. Total income for the period ended September 2025 was ₹45.63 crore, compared to ₹89.73 crore in FY2025, ₹35.27 crore in FY2024, and ₹26.35 crore in FY2023.
Profit after tax (PAT) increased to ₹4.11 crore for the period ended September 2025, compared with ₹6.59 crore in FY2025, ₹3.55 crore in FY2024, and ₹1.48 crore in FY2023, indicating an improving profitability trend over the years. EBITDA stood at ₹7.64 crore as of September 2025, compared to ₹13.01 crore in FY2025, ₹5.58 crore in FY2024, and ₹2.15 crore in FY2023.
The company’s net worth improved significantly to ₹22.01 crore as of September 2025, compared to ₹15.91 crore in FY2025, ₹7.72 crore in FY2024, and ₹2.67 crore in FY2023. Similarly, reserves and surplus increased to ₹15.87 crore as of September 2025, up from ₹11.55 crore in FY2025, ₹3.57 crore in FY2024, and ₹2.57 crore in FY2023. Meanwhile, total borrowings stood at ₹17.17 crore as of September 2025, slightly lower than ₹17.25 crore in FY2025, but higher compared to ₹1.88 crore in FY2024 and ₹0.06 crore in FY2023, reflecting the company’s expansion and funding requirements.
Strengths of Srinibas Pradhan Constructions IPO
- Infrastructure focus in a government‑backed sector (roads, civil works, infra capex theme).
- Fresh issue largely for working capital, which can directly support revenue growth if order book is healthy.
- Debt reduction component (₹1 crore) slightly de‑risks the balance sheet.
- NSE SME listing may provide valuation re‑rating if execution and growth remain strong.
- Small issue size (₹20.32 crore) can see higher subscription/oversubscription interest in a bullish SME market.
-
Risks of Srinibas Pradhan Constructions IPO
- SME infra contractor: Likely high dependence on a few projects/clients; any delay or cancellation can impact revenues.
- High minimum investment of about ₹2.35 lakh (2 lots) makes it unsuitable for very small retail investors.
- Execution and receivable risk typical in infra projects (payment delays, cost overruns, regulatory issues).
- Lower liquidity expected on NSE SME vs mainboard; entry/exit spreads can be wide.
- Offer for Sale portion indicates some existing shareholders are partially exiting, which investors should evaluate alongside promoter skin‑in‑the‑game.
FAQs
1. When does the Srinibas Pradhan Constructions IPO open and close?
The NSE SME IPO opens on 6 March 2026 and closes on 10 March 2026, with tentative allotment on 11 March and listing on 13 March 2026 on NSE SME platform.
2. What is the price band and lot size for Srinibas Pradhan IPO?
Price band: ₹91–₹98 per share (FV ₹10). Lot size: 1,200 shares. Retail investors need minimum 2 lots = 2,400 shares ≈ ₹2,35,200 at upper band.
3. What is the total issue size of Srinibas Pradhan Constructions IPO?
₹20.32 crore comprising 17.13 lakh fresh shares (~₹16.79 crore) + 3.6 lakh OFS shares (~₹3.53 crore). Listing on NSE SME with Rikhav Securities as market maker.
4. How will the IPO proceeds be used by Srinibas Pradhan Constructions?
₹11.55 crore for working capital, ₹1 crore for partial debt repayment, and balance for general corporate purposes to support infra project execution and growth.
5. Who are the lead manager and registrar for Srinibas Pradhan IPO?
Lead Manager: Novus Capital Advisors Pvt. Ltd.
Registrar: Maashitla Securities Pvt. Ltd.
Market Maker: Rikhav Securities Ltd.
