Latest IPO in India: Integrity Infrabuild Developers Ltd – Strong Growth, ₹12 Cr Issue, SME Opportunity
Latest IPO in India: Integrity Infrabuild Developers Ltd – Strong Growth, ₹12 Cr Issue, SME Opportunity
The latest IPO in India, Integrity Infrabuild Developers Ltd, opens on May 13, 2025, offering a strong opportunity for SME investors. With a solid project track record and a robust order book of ₹205.98 crore, this IPO is attracting attention in the infrastructure segment.
Company Overview
Founded in 2017, Integrity Infrabuild Developers Ltd is a government-approved Class-A civil contractor operating in Gujarat. The company has completed over 111 infrastructure projects worth ₹213.36 crore, mainly in roads, buildings, and bridges. With a consistent project pipeline and experienced leadership, Integrity is positioning itself for long-term growth in the Indian infrastructure market.
IPO Timeline
- IPO Opens: May 13, 2025
- IPO Closes: May 15, 2025
- Basis of Allotment: May 16, 2025
- Initiation of Refunds: May 19, 2025
- Shares Credited to Demat: May 19, 2025
- Listing Date: May 20, 2025
IPO Price Band
This is a fixed price issue with an offer price of ₹100 per equity share, each having a face value of ₹10. The pricing reflects the company’s valuation and infrastructure sector growth outlook.
Lot Size
- Lot Size: 1,200 shares
- Minimum Investment: ₹1,20,000
Applications must be placed in multiples of 1 lot.
Key Dates Recap
- Opening Date: May 13, 2025
- Closing Date: May 15, 2025
- Allotment Date: May 16, 2025
- Listing Date: May 20, 2025
Financials
- Revenue (FY 2023-24): ₹64.47 crore
- Profit After Tax: ₹0.94 crore
- Market Cap (Post-Issue): ₹43 crore
- P/E Ratio: 32.68
- Debt-to-Equity Ratio: 3.60
- 3-Year CAGR: 38.89%
Strengths
- Experienced Management with deep domain expertise in infrastructure.
- Robust Order Book worth ₹205.98 crore.
- Consistent Execution of government-funded infrastructure projects.
- Own Equipment Fleet ensures operational efficiency.
Risks
- High Leverage: Debt-to-equity ratio of 3.60 could impact profitability.
- Government Dependency: Revenue depends heavily on public sector contracts.
- SME Listing Volatility: Potential liquidity challenges and price swings.
IPO Anchor Investors Details
There are no anchor investors disclosed for this IPO, as is typical for many SME IPOs.
IPO Promoter Holding Details
| Shareholder Category | Pre-Issue Holding (%) | Post-Issue Holding (%) |
|---|---|---|
| Promoters | 99.99% | 72.09% |
| Public | 0.01% | 27.91% |
IPO Grey Market Premium (GMP)
| Date | GMP (₹) | Expected Listing Price (₹) | Listing Gain (%) |
|---|---|---|---|
| May 11, 2025 | — | — | — |
Note: No GMP data available as of now.
Final Thoughts
Integrity Infrabuild Developers Ltd offers a compelling infrastructure SME IPO with a strong project execution history and a significant order backlog. While the high debt load and SME listing dynamics present risks, the growth potential in India’s infrastructure sector makes it a notable IPO to watch. Investors looking at the latest IPO in India in the SME segment should evaluate this offering with proper risk consideration.