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Sai Urja Indo Ventures IPO
📅 Founded: 2012
📍 Chandrapur, Maharashtra
👥 1,969 employees
🌐 suiv.co.in
📋 Face Value: ₹10
🏦 Market Cap: ₹86 Cr
Price Band
₹107 – ₹113
Issue Size
₹24.95 Cr
Lot Size
1200 shares
Min. Investment
₹2,71,200
GMP
+₹0 (+0%)
Est. Return
+0%
Listing Date
05 Oct 2026
Registrar
Maashitla Securities
Sai Urja Indo Ventures IPO at a glance
Sai Urja Indo Ventures IPO was an SME issue of ₹24.95 Cr at a price band of ₹107 – ₹113 per share, open from 25 Sep 2026 to 29 Sep 2026. The shares listed on BSE SME on 05 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issue₹18 Cr
Offer for Sale (OFS)₹4 Cr
Total Issue Size₹24.95 Cr
Face Value₹10
Market Cap (at issue)₹86 Cr
Listing ExchangeBSE SME
📅 Open Date25 Sep 2026
🔒 Close Date29 Sep 2026
✂️ Cut-off Price Date29 Sep 2026
🎟️ Allotment Date30 Sep 2026
💸 Refund Initiation01 Oct 2026
📂 Demat Credit01 Oct 2026
📈 Listing Date05 Oct 2026
Objects of the Issue
- 💰 Working capital — ₹8 Cr
- 💰 Repayment of loans — ₹6.60 Cr
- 💰 General corporate purposes
About the Company
Sai Urja Indo Ventures, based in Chandrapur, Maharashtra, provides operation and maintenance services to industrial plants in power, steel and agrochemicals. Its work includes managing electrical systems, coal handling and housekeeping, and supplying skilled manpower to plants.
Strengths
- ✅ Provides operation and maintenance for power, steel and agrochemical plants
- ✅ Wide service range — electrical, C&I, coal handling, boiler-turbine operation and housekeeping
- ✅ Large workforce of nearly 2,000 people deployed at client sites
Risk Factors
- ⚠️ Labour-intensive business with thin margins (EBITDA under 8%)
- ⚠️ Revenue tied to a small set of large industrial clients
- ⚠️ Contracts are renewed periodically and can be lost
- ⚠️ Valuation is on the higher side versus its SME peers at about 27.6x earnings
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
92.87%
Pre-IPO
→ -27.2%
65.67%
Post-IPO
Founders & Leadership
HM
Harsh Ajaykumar Mittal
Promoter
Promoter of the company
SM
Santosh Ajay Kumar Mittal
Promoter
Promoter of the company
IPO Timeline
✓
Open Date
25 Sep 2026
✓
Close Date
29 Sep 2026
✓
Allotment Date
30 Sep 2026
✓
Listing Date
05 Oct 2026
Key Financials
Revenue₹85.64 Cr
PAT₹4.19 Cr
EPS₹4.1
P/E Ratio27.56x
ROE42.44%
Market Cap₹86 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 85.64 | 65.82 | 45.88 |
| Profit After Tax | 4.19 | 3.13 | 1.39 |
| EBITDA | 6.51 | 5.14 | 2.93 |
| Net Worth | 12.20 | 7.76 | 4.72 |
| Total Borrowing | 7.18 | 5.35 | 2.15 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 34.34 | 40.34 |
| EBITDA Margin (%) | 7.60 | 7.81 |
| Debt / Equity | 0.59 | 0.69 |
| Net Worth (Rs. Cr) | 12.20 | 7.76 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹4.1 | — |
| P/E (x) | 27.56x | — |
| ROE (%) | 42.44% | — |
| Promoter Holding | 92.87% | 65.67% |
| Market Cap | ₹86 Cr | |
IPO Registrar
Maashitla Securities
Sai Urja Indo Ventures IPO FAQs
Sai Urja Indo Ventures IPO is an SME IPO with an issue size of ₹24.95 Cr at a price band of ₹107 – ₹113. Minimum lot size is 1200 shares and the minimum application is 2 lots (minimum investment ~₹2,71,200). Opened on 25 Sep 2026 and closed on 29 Sep 2026. Listed on BSE SME. Registrar: Maashitla Securities.