Srinibas Pradhan Constructions IPO Details

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Incorporated in 2020, SPCL is a fast-growing infrastructure firm based in Jharsuguda, Odisha. The company specializes in critical civil engineering projects, including roads, highways, high-level bridges, and mining infrastructure.

Srinibas Pradhan Constructions IPO
SP
Srinibas Pradhan Constructions Limited IPO
Infrastructure · Roads & Highways · Bridges · Civil Construction
🔴 IPO Closed ⬡ SME IPO NSE SME
₹98
Issue Price
₹20.32 Cr
Issue Size
Mar 13, 2026
Listing Date
₹77.04 Cr
Market Cap (Pre-IPO)
📅 IPO Timetable
All dates tentative
🔓
IPO Opens
Friday, 6 March 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 10 March 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 11 March 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 12 March 2026
Unallotted funds returned; shares credited to demat
🏷️
Listing on NSE SME
Friday, 13 March 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date6 March 2026 (Fri)
IPO Close Date10 March 2026 (Tue)
Listing Date13 March 2026 (Fri)
Face Value₹10 per share
Price Band₹91 to ₹98
Issue Price (Upper Band)₹98 per share
Issue TypeBook Build — Fresh + OFS
Lot Size1,200 shares
Total Issue Size20,73,600 shares (₹20.32 Cr)
Fresh Issue16,09,200 shares (₹16.79 Cr)
Offer for Sale (OFS)3,60,000 shares (₹3.53 Cr)
Market Maker Reservation1,04,400 shares
Net Offered to Public19,69,200 shares
Market MakerRikhav Securities Ltd.
Pre-Issue Shares61,47,397
Post-Issue Shares78,60,997
Promoter Holding (Pre)85.27%
Market Cap (Pre-IPO)₹77.04 Cr
Listing ExchangeNSE SME
Lead ManagerNovus Capital Advisors Pvt. Ltd.
RegistrarMaashitla Securities Pvt. Ltd.
Order Book (Feb 2026)₹184.07 Cr
💰 Lot Size & Minimum Investment
At issue price ₹98
Investor TypeLotsSharesAmount
Retail (Min & Max)22,400₹2,35,200
S-HNI — Minimum33,600₹3,52,800
S-HNI — Maximum89,600₹9,40,800
B-HNI — Minimum910,800₹10,58,400
👥 Investor Reservation
Out of 20,73,600 total shares
5.03%
Market Maker
1,04,400 shares
Rikhav Securities
46.99%
Retail (RII)
9,74,400 shares
Min & Max 2 lots
47.05%
NII / HNI
9,75,600 shares
sNII + bNII
0.93%
QIB
19,200 shares
Mutual funds, FIIs
💡 Note: This is an SME IPO. Retail investors must apply for exactly 2 lots (2,400 shares at ₹2,35,200). NII is split between sNII (<₹10L): 3,25,200 shares and bNII (>₹10L): 6,50,400 shares.
📈 Company Financials
Restated Consolidated · ₹ Crore
MetricSep 2025 (H1)FY 2024–25FY 2023–24FY 2022–23
Total Assets56.6755.7620.836.50
Total Income45.6389.7335.2726.35
PAT4.116.593.551.48
EBITDA7.6413.015.582.15
Net Worth22.0115.917.722.67
Reserves & Surplus15.8711.553.572.57
Total Borrowings17.1717.251.880.06
Revenue Growth
FY 2022–23₹26.35 Cr
FY 2023–24₹35.27 Cr
FY 2024–25₹89.73 Cr
Sep 2025 (H1 FY26)₹45.63 Cr
🎯 Key Performance Indicators
55.76%
ROE
FY 2024–25
71.01%
ROCE
FY 2024–25
7.34%
PAT Margin
FY 2024–25
14.50%
EBITDA Margin
FY 2024–25
21.67%
ROE
Sep 30, 2025
29.79%
ROCE
Sep 30, 2025
0.78x
Debt/Equity
Sep 30, 2025
3.58x
Price to Book
At ₹98
⚖️ Valuation & EPS
Pre-IPO EPS
₹10.71
FY25 earnings + pre-issue shares
P/E: 9.15x
Post-IPO EPS
₹10.45
Annualised H1 FY26 + post-issue shares
P/E: 9.37x
Price to Book Value
3.58x
At issue price ₹98
Market Cap (Pre-IPO)
₹77.04 Cr
At issue price ₹98
ℹ️ Pre-IPO EPS uses pre-issue shares (61,47,397) and FY25 earnings. Post-IPO EPS uses post-issue shares (78,60,997) and annualised H1 FY26 earnings. Indicative figures from the RHP.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding the working capital requirements of the Company
₹11.55 Cr
2
Repayment of portion of loan availed by the Company
₹1.00 Cr
3
General corporate purposes (balance of net proceeds)
Balance
Total (items 1 & 2) ₹12.55 Cr
🏢 About Srinibas Pradhan Constructions Limited
Est. 2020 · Odisha

Incorporated in 2020, Srinibas Pradhan Constructions Limited (SPCL) operates in the infrastructure and utilities sector, specialising in the execution of projects related to roads, highways, bridges, electricity infrastructure, and mining infrastructure.

SPCL participates in competitive bidding processes for infrastructure projects across the state of Odisha, catering to state government departments, central and state public sector undertakings, as well as private corporate clients. As on February 15, 2026, the company has a consolidated Order Book of ₹18,406.95 lakhs (₹184.07 Cr).

Core Business Activities
🛣️
Roads & Highways
Construction of rural, major district & urban roads
🌉
Bridges & Steel Structures
High-level bridges and steel structures for industrial sheds
🏗️
Civil Construction
Foundations, multi-storied buildings, factories & industrial facilities
⚡
Electricity & Mining
Electricity infrastructure and mining infrastructure projects
Competitive Strengths
⭐Established reputation in Odisha infrastructure sector
👷Experienced and skilled workforce
🔗Strong backward integration across project components
💼Diverse portfolio spanning roads, bridges, irrigation, civil & industrial
Company Promoters
RP
Mr. Ramakanta Pradhan
Promoter, Srinibas Pradhan Constructions Ltd.
SP
Mr. Srinibas Pradhan
Promoter, Srinibas Pradhan Constructions Ltd.
📅 Key Dates
IPO Opens6 Mar 2026
IPO Closes10 Mar 2026
Allotment11 Mar 2026
Refund & Credit12 Mar 2026
Listing Day13 Mar 2026
💡 Quick Summary
Price Band₹91 – ₹98
Issue Price₹98 / share
Lot Size1,200 shares
Min. Investment₹2,35,200
Issue Size₹20.32 Cr
Fresh Issue₹16.79 Cr
OFS₹3.53 Cr
ListingNSE SME
🏦 Registrar & Lead Manager
Registrar
Maashitla Securities Pvt. Ltd.
📞 +91-11-45121795-96
Investor.ipo@maashitla.com
Lead Manager
Novus Capital Advisors Private Limited
📍 Company Address
Srinibas Pradhan Constructions Limited
C/O Srinibas Pradhan, Near Chuakani,
Po-Lamtibaha, Jharsuguda,
Odisha – 768216
📞 +91 6645 251105
cs@srinibaspradhan.com
🛡️ Regulatory Note: SME IPO investments carry higher risk than mainboard IPOs. Always read the RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Srinibas Pradhan Constructions IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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