Allotment
Srinibas Pradhan Constructions Limited is launching a book-built IPO aggregating to ₹20.32 crores. The issue comprises a fresh issue of 0.17 crore equity shares amounting to ₹16.79 crores and an offer for sale (OFS) of 0.04 crore shares totaling ₹3.53 crores.
The IPO will open for subscription on March 6, 2026, and close on March 10, 2026. The allotment is expected to be finalized on March 11, 2026. The company’s shares are proposed to be listed on the NSE SME platform, with a tentative listing date of March 13, 2026.
The price band for the issue has been fixed at ₹91 to ₹98 per share. The lot size is 1,200 shares. Retail investors are required to apply for a minimum of 2 lots (2,400 shares), which amounts to ₹2,35,200 at the upper price band. For HNI investors, the minimum application size is 3 lots (3,600 shares), totaling ₹3,52,800.
Novus Capital Advisors Private Limited acted as the Book Running Lead Manager for the issue, while Maashitla Securities Pvt. Ltd. served as the registrar. The market maker for the IPO is Rikhav Securities Ltd..
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| IPO Date | 13 Mar |
| IPO Listing Date | 13 Mar |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹98.00 |
| IPO Issue Size | 20,73,600 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 61,47,397 shares |
| IPO Open Date | 6 Mar |
| IPO Close Date | 10 Mar |
| IPO Allotment (Tentative) | 11 Mar |
| Refunds | 12 Mar |
| Credit to Demat Account | 12 Mar |
| IPO Listing Date | 13 Mar |
| Category | Offer |
|---|---|
| QIB Shares Offered | 19,200 Shares |
| NII (HNI) Shares Offered | 9,75,600 Shares |
| Retail Shares Offered | 9,74,400 Shares |
Investors can apply for a minimum of 2,400 shares, and bids must be placed in multiples of 1,200 shares thereafter.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,35,200 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,35,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,52,800 |
| S-HNI (Max) | 8 | 9,600 | ₹9,40,800 |
| B-HNI (Min) | 9 | 10,800 | ₹10,58,400 |
Srinibas Pradhan Constructions Limited (SPCL), incorporated in 2020, operates in the infrastructure and utilities sector. The company specializes in executing projects related to roads, highways, bridges, electricity infrastructure, and mining infrastructure.
Core Business Activities
SPCL is engaged in infrastructure development across multiple segments, with a primary focus on:
Roads and Highways:
Construction of rural roads, major district roads, and urban roads using quality materials such as aggregates, sand, tar, and cement to ensure durability and reliability.
Bridges and Steel Structures:
Execution of high-level bridges and fabrication of steel structures for bridges and industrial sheds.
Civil Construction:
Comprehensive civil construction services, including foundations, superstructures, multi-storey buildings, factories, and industrial facilities.
The company participates in competitive bidding for infrastructure projects primarily across the state of Odisha, serving state government departments, central and state public sector undertakings, and private corporate clients.
SPCL’s project portfolio spans roads, bridges, irrigation and canal works, civil construction, and industrial development projects.
As of February 15, 2026, the company reported a consolidated order book of ₹18,406.95 lakhs.
Competitive Strengths
| Assets | 56.67 | 55.76 | 20.83 |
| Total Income | 45.63 | 89.73 | 35.27 |
| Profit After Tax | 4.11 | 6.59 | 3.55 |
| EBITDA | 7.64 | 13.01 | 5.58 |
| Net Worth | 22.01 | 15.91 | 7.72 |
| Reserves and Surplus | 15.87 | 11.55 | 3.57 |
| Total Borrowing | 17.17 | 17.25 | 1.88 |
| ROE | 21.67% |
| ROCE | 29.79% |
| Debt/Equity | 0.78 |
| RoNW | 21.67% |
| PAT Margin | 9.01% |
| EBITDA Margin | 16.76% |
| Price to book value | - |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 11.55 |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
Srinibas Pradhan Constructions Ltd. Address
C/O- Srinibas Pradhan, Near Chuakani Po-Lamtibaha,
Jharsuguda, Jharsuguda,
Jharsuguda, Odisha, 768216
+91 6645 251105
cs@srinibaspradhan.com
https://www.srinibaspradhan.com/
IPO Registrar
Maashitla Securities Pvt.Ltd.
+91-11-45121795-96
Investor.ipo@maashitla.com
https://maashitla.com/allotment-status/public-issues