- Issue price
- ₹185per share
- Issue size
- ₹160.88 Cr86,95,945 shares
- Face value
- ₹10per equity share
- Lot size
- 81 sharesMin. ₹14,985 at the upper price
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesFri, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 69,45,945 shares (₹128.5 Cr)
- Offer for sale
- 17,50,000 shares (₹32.38 Cr)
- Total issue
- 86,95,945 shares (₹160.88 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- NII15.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 30,43,581 | 35.00% | — |
| Non-institutional investors (NII) | 13,04,394 | 15.00% | — |
| QIB, excluding anchor | 17,39,188 | 20.00% | — |
| Anchor investors | 26,08,782 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹185 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 81 | ₹14,985 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- ₹15.7
- P/E (FY 2025-26 at cap price)
- 11.78×
- RoNW
- 35.44%
- NAV per share
- ₹57.69
- Debt to equity
- 0.73
- EBITDA margin
- 14.07%
- PAT margin
- 8.23%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 503.57 | 350.76 | 209.58 |
| Total income | 505.57 | 352.60 | 211.33 |
| EBITDA | 70.85 | 43.89 | 23.71 |
| Profit after tax | 41.43 | 27.45 | 13.98 |
| Net worth | 156.78 | 77.02 | 49.57 |
| Reserves and surplus | 129.60 | 52.27 | 24.82 |
| Total assets | 412.24 | 258.54 | 143.26 |
| Total borrowing | 114.64 | 111.02 | 43.82 |
FY 2025-26 vs FY 2024-25: revenue +43.6%, profit after tax +50.9%.
Source: ProspectusUpdated
About the company
The company is an engineering, procurement and construction firm that executes power transmission and distribution infrastructure projects on a turnkey basis. Its work covers underground cabling, substations, rural and urban electrification, street lighting and renewable energy works, mainly for government electricity utilities. It was converted from a partnership firm into a company in 2019.
- Incorporated
- 2019
- Industry
- Power EPC
- CIN
- U51909RJ2019PLC065892
- Website
- swastikainfra.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Vatsalya Gupta | Promoter | — | — | — |
| Vinay Gupta | Promoter | 25.86% | — | 2,73,500 |
| Ruchira Gupta | Promoter | 18.77% | — | 2,73,500 |
| Biren Parnami | Promoter | 14.57% | — | 3,28,000 |
| Manoj Modi | Promoter | 14.57% | — | 3,28,000 |
| Babulal Gupta | Promoter | 2.73% | — | — |
| Ishaan Bhartia | Selling shareholder | — | — | 2,73,500 |
| Ishita Bhartia | Selling shareholder | — | — | 2,73,500 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding incremental working capital requirements | 90.00 |
| General corporate purposes | 19.39 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Rajesh Power Services Limited | ₹79.5 | 10.10× | 35.30% | ₹225.6 |
| Vikran Engineering Limited | ₹4.1 | 14.60× | 7.40% | ₹48 |
| Swastika Infra LimitedIssuer | ₹15.7 | 11.78× | 35.40% | ₹57.7 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Over fifteen years of experience executing power distribution EPC projects.
- Order book of about ₹91,655 lakhs for uncompleted ongoing contracts as of July 31, 2026.
- Revenue grew strongly across the three fiscal years shown.
- Asset-light model that relies on leased project assets rather than owned heavy machinery.
- Promoters with long experience in the EPC sector lead the company.
Risks
- Almost all revenue comes from government utilities, so policy or budget changes could affect contracts.
- Payment delays and disputes with government clients, including a pending High Court writ petition.
- Order book is concentrated in a small number of large projects.
- Large working capital requirements funded substantially by borrowings.
- Receivables and retention money tie up significant cash and have risen sharply.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹185) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Swastika Infra IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 23 September 2026 and closes on Friday, 25 September 2026.
What is the Swastika Infra IPO price band?
The final issue price is ₹185 per share.
What is the lot size of the Swastika Infra IPO?
One lot is 81 shares, which is ₹14,985 at ₹185 per share.
Where will Swastika Infra shares list?
On NSE and BSE. The tentative listing date is Wednesday, 30 September 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Swastika Infra IPO allotment status?
Search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹90 Cr for funding incremental working capital requirements, ₹19.39 Cr for general corporate purposes.
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