The Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh shares.
Suntech Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July 2024.
It also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction model.
In FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous year.
The IPO proceeds will be used to fund working capital and purchase new construction equipment to support project execution.With a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra’s debut is expected to mirror the optimism in the SME IPO market, even amid broader market choppiness.Given the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.
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