The IPO will close on June 27, with allotment likely to be finalised by June 30. The stock is scheduled to list on the NSE SME platform on July 2.
The price band is fixed between Rs 81 and Rs 86 per share, and investors can bid for a minimum lot of 1,600 shares.
The IPO is being managed by GYR Capital Advisors, with Mas Services Limited as the registrar. Giriraj Stock Broking is acting as the market maker.
Company overview
Incorporated in 2009, Suntech Infra Solutions offers a range of civil construction services, including foundation and structural work. It operates in both public and private sectors across industries like power, oil & gas, steel, cement, refineries, and infrastructure.
The company currently has six ongoing projects valued at over Rs 186 crore and an equipment rental order book worth Rs 10.92 crore.
It owns a large fleet of modern equipment including piling rigs, diaphragm wall grabs, boom placers, and cranes. Key clients include Bharat Mandapam, IOCL, Ultratech, and the Unity Group.
Financial Performance
The company has shown steady financial growth. For FY24, it reported revenue of Rs 96.25 crore and profit after tax of Rs 9.25 crore, up from Rs 5.76 crore in FY23. EBITDA margin improved to 28.28%, and PAT margin stood at 9.67%. Its return on equity (ROE) for FY24 is a healthy 28.50%.
The IPO proceeds will be utilised to fund working capital needs (Rs 12.21 crore), purchase of construction equipment (Rs 12.51 crore), and for general corporate purposes.
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