Srinibas Pradhan Constructions Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹98
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,17,600
Issue Size
₹20.32 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
49.48%
QIB Quota
0.98%
NII Quota
49.54%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Srinibas Pradhan Constructions Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
85.27%
Promoter Holding (Post-Issue)
62.1%
Issue Type
Book Building - SME
ISIN
INE0TPJ01019
About the Company
The Company is engaged in infrastructure development across various domains, with a primary focus on Roads and Highways, including Rural, Major District, and Urban roads. The Company utilizing a range of materials such as Aggregate, Sand, Tar, and Cement to ensure durable and reliable construction. In addition to roads, it focuses on construction of High-Level Bridges and Steel Structures, both for bridges and sheds. its Civil Construction Services encompass a wide spectrum, from Foundations and Superstructures to Multi-Storied Structures, Factories, and Industrial Facilities. The Company engages in competitive bidding processes by participating in tenders/ bids/ quotations and complete the process for getting contracts/ work orders for diverse projects in the State of Odisha, such as Roads, Bridges, Irrigation & Canals, Civil, and Industrial construction.
Industry Overview
The infrastructure sector is a key driver of the Indian economy. The sector is highly responsible for propelling India's overall development and enjoys intense focus from the Government for initiating policies that would ensure the time-bound creation of world-class infrastructure in the country. The infrastructure sector includes power, bridges, dams, roads, and urban infrastructure development. In other words, the infrastructure sector acts as a catalyst for India's economic growth as it drives the growth of the allied sectors like townships, housing, built-up infrastructure, and construction development projects.
Company History
The Company was incorporated as Srinibas Pradhan Constructions Private Limited under the provisions of the Companies Act, 2013, pursuant to certificate of incorporation dated September 25, 2020 issued by the Central Registration Centre. Subsequently, the Company was converted into public limited company under the provisions of Companies Act, 2013, pursuant to the approval accorded by our Shareholders at the Extra-ordinary General Meeting held on December 27, 2023. Consequently, the name of the Company was changed to "Srinibas Pradhan Constructions Limited" and a fresh Certificate of Incorporation consequent upon conversion from a private limited company to a public limited company was issued to our Company by the Registrar of Companies, Cuttack on February 09, 2024. The registered office of our company is situated at Plot No. 813, Khata No. 106/548, Brajraj Nagar, Chhualiberna, Jharsuguda, Belpahar Rs, Jharsuguda, Belpahar, Orissa, India, 768217. The Corporate Identification Number of the Company is U45201OR2020PLC034275.
Products & Services
- The Company is engaged in infrastructure development across various domains, with a primary focus on Roads and Highways, including Rural, Major District, and Urban roads.
Growth Strategy
- Acquire New Customers.
- Strengthen Pre-Qualification Criteria for Government Contracts.
- Backward Integrations.
- Geographical Expansion.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 20,73,600 equity shares of face value of Rs.10/- each (the "Equity shares") of Srinibas Pradhan Constructions Limited ("SPCL" or the "Company" or the "Issuer") at an offer price of Rs. 98 per equity share for cash, aggregating up to Rs. 20.32 Crores ("Public Offer") comprising of a fresh issue of 17,13,600 equity shares aggregating to Rs.16.79 Crores(the "Fresh Issue") and an offer for sale of 3,60,000 equity shares by the selling shareholders ("Offer For Sale") aggregating to Rs. 3.53 Crores comprising; 1,80,000 equity shares aggregating up to Rs. 1.76 Crores by Ramakanta Pradhan and 1,80,000 equity shares aggregating up to Rs.1.76 Crores by Srinibas Pradhan (Collectively Refferd as "Selling Shareholders") out of which 1,04,400 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 98 per equity share for cash, aggregating Rs. 1.02 Crores will be reserved for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The public offer less market maker reservation portion i.e. Offer of 19,69,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs.98 per equity share for cash, aggregating up to Rs. 19.30 Crores is herein after referred to as the "Net Offer". The public offer and net offer will constitute 26.38% and 25.05% respectively of the post- offer paid-up equity share capital of the company. Price Band: Rs. 98/- for equity share of face value of Rs. 10 each. The floor price is 9.8 times of the face value of the equity shares. Bids can made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Focused on Infrastructure and civil construction.
- Experienced management team.
- Experienced workforce.
- Strong Backward Integrations.
- Strong Order Book from various government agencies, local bodies and private companies.
- Its business operations are focused primarily in the State of Odisha. The company relies heavily on projects undertaken or awarded within Odisha, by entities such as the local authorities, municipal bodies, and other organizations operating in the state. As a result, its revenue streams are derived entirely from contracts with a limited number of entities, exposing it to risks arising from economic, regulatory, and other changes specific to Odisha. Any adverse changes in central or state government policies could potentially lead to foreclosure, termination, restructuring, or renegotiation of its contracts. Such developments could significantly impact the company business operations and financial results.
- The company depends on certain key customers for its revenues. A decrease in the revenues the company derives from them could materially and adversely affect its business, results of operations, cash flows and financial condition.
- The Company depends on the knowledge and experience of its Promoters, Ramakanta Pradhan and Srinibas Pradhan for its growth. The loss of their services may have a material adverse effect on its business, financial condition and results of operations.
- The company has in past entered into related party transactions and its may continue to do so in the future.
- Its may not maintain profitability in the future.