The subscription window will remain open until August 29, with allotment likely to be finalized on September 1. Shares are expected to list on NSE SME on September 3.
Price Band and Lot Size
The IPO price band has been set between Rs 70 and Rs 75 per share. Investors can bid for a minimum of 3,200 shares.
Issue Structure
The offering comprises a fresh issue of 47.16 lakh equity shares, aggregating to Rs 35.38 crore. The net issue of 44.76 lakh shares is open to the public, with not more than 50% set aside for Qualified Institutional Buyers (QIBs), not less than 35% for retail investors, and at least 15% for Non-Institutional Investors (NIIs).
About the Company
Incorporated in 2005, Chennai-based Sattva Engineering Construction is an EPC (Engineering, Procurement, and Construction) firm with a focus on water infrastructure, wastewater management, and industrial projects.The company has delivered projects for government agencies such as the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), Tamil Nadu Water Supply and Drainage Board (TWAD), Public Works Department, Greater Chennai Corporation, Southern Railway, and BHEL.Its portfolio includes water distribution networks, sewage treatment plants, pumping stations, factory buildings, warehouses, and residential complexes. The company has also executed projects funded by global institutions like the Asian Development Bank and the World Bank.
Financial Performance
Sattva Engineering Construction reported a 22% growth in revenue to Rs 94.85 crore in FY25, compared with Rs 77.44 crore in FY24. Profit after tax doubled to Rs 9.14 crore in FY25 from Rs 4.56 crore in FY24.
Objects of the Issue
The IPO proceeds will primarily be used to meet long-term working capital requirements, with Rs 27.5 crore earmarked for this purpose. The balance will be allocated for general corporate purposes.
Vivro Financial Services is the book-running lead manager, while MUFG Intime India is the registrar. Rikhav Securities is acting as the market maker.
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