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Swastika Infra IPO
📅 Founded: 2019
📍 Jaipur, Rajasthan
👥 182 employees
🌐 swastikainfra.com
📋 Face Value: ₹10
🏦 Market Cap: ₹631 Cr
Price Band
₹175 – ₹185
Issue Size
₹161 Cr
Lot Size
81 shares
Min. Investment
₹14,985
GMP
+₹8 (+4.3%)
Est. Return
+4.3%
Listing Date
30 Sep 2026
Registrar
MUFG Intime India
Swastika Infra IPO at a glance
Swastika Infra IPO was a mainboard issue of ₹161 Cr at a price band of ₹175 – ₹185 per share, open from 23 Sep 2026 to 25 Sep 2026. It was subscribed 1.55 times overall (QIB 1.02x, NII 2.14x, retail 1.5x). The shares listed on BSE, NSE on 30 Sep 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +4.3% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
1.55x subscribed
Issue Details
Fresh Issue₹128.5 Cr
Offer for Sale (OFS)₹32.38 Cr
Total Issue Size₹161 Cr
Face Value₹10
Market Cap (at issue)₹631 Cr
Listing ExchangeBSE, NSE
📅 Open Date23 Sep 2026
🔒 Close Date25 Sep 2026
✂️ Cut-off Price Date25 Sep 2026
🎟️ Allotment Date28 Sep 2026
💸 Refund Initiation29 Sep 2026
📂 Demat Credit29 Sep 2026
📈 Listing Date30 Sep 2026
Objects of the Issue
- 💰 Working capital — ₹90 Cr
- 💰 General corporate purposes
About the Company
Swastika Infra, based in Jaipur, is an EPC contractor for power infrastructure, covering supply, erection, installation, testing and commissioning. Its work includes power distribution and transmission projects such as substations, electrification and renewable energy installations.
Strengths
- ✅ Order book of about ₹2,037 Cr gives revenue visibility
- ✅ Works on underground cabling, GIS/AIS substations and electrification
- ✅ Income more than doubled between FY24 and FY26
Risk Factors
- ⚠️ Clients are mostly state power distribution companies, where payments can be delayed
- ⚠️ Working-capital intensive EPC model
- ⚠️ Short operating history since 2019
- ⚠️ Growth depends on government spending on power networks
Subscription Status
1.55x Overall
QIB: 1.0x
NII: 2.1x
RII: 1.5x
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 Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
76.51%
Pre-IPO
→ -19.1%
57.41%
Post-IPO
Founders & Leadership
BG
Babulal Gupta
Promoter
Promoter of the company
VG
Vinay Gupta
Promoter
Promoter of the company
IPO Timeline
✓
Open Date
23 Sep 2026
✓
Close Date
25 Sep 2026
✓
Allotment Date
28 Sep 2026
✓
Listing Date
30 Sep 2026
Key Financials
Revenue₹505.57 Cr
PAT₹41.43 Cr
EPS₹12.14
P/E Ratio15.24x
ROE35.44%
Market Cap₹631 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 505.57 | 352.60 | 211.33 |
| Profit After Tax | 41.43 | 27.45 | 13.98 |
| EBITDA | 70.85 | 43.89 | 23.71 |
| Net Worth | 156.78 | 77.02 | 49.57 |
| Total Borrowing | 114.64 | 111.02 | 43.82 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 26.43 | 35.64 |
| EBITDA Margin (%) | 14.01 | 12.45 |
| Debt / Equity | 0.73 | 1.44 |
| Net Worth (Rs. Cr) | 156.78 | 77.02 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹12.14 | — |
| P/E (x) | 15.24x | — |
| ROE (%) | 35.44% | — |
| Promoter Holding | 76.51% | 57.41% |
| Market Cap | ₹631 Cr | |
IPO Registrar
Swastika Infra IPO FAQs
Swastika Infra IPO is a mainboard IPO with an issue size of ₹161 Cr at a price band of ₹175 – ₹185. Minimum lot size is 81 shares (minimum investment ~₹14,985). Opened on 23 Sep 2026 and closed on 25 Sep 2026. Listed on BSE, NSE. Registrar: MUFG Intime India.