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Shivalaya Construction has filed for an IPO with SEBI to reduce debt and support corporate operations. The offering includes a fresh issue of INR 450 crore and an offer-for-sale of 2.48 crore shares. The company, with a strong presence in roads, highways, and bridge construction, reported total borrowings of INR 3,048 crore and revenue of INR 3,124 crore in fiscal 2025. Its ongoing projects span over 1,500 lane kilometers, and its order book totals INR 3,627 crore. The IPO may also include a pre-IPO placement of up to INR 90 crore.
Shivalaya Construction has initiated preliminary filings with the markets regulator SEBI to raise funds through an initial public offering aimed at reducing its debt burden. The proposed IPO will include a fresh issue of shares worth INR 450 crore alongside an offer-for-sale of 2.48 crore shares by the company?s promoters, as per the draft red herring prospectus. Advertisement
Out of the fresh issuance, INR 340 crore is expected to be used for repaying debt, while the remaining amount will support general corporate purposes. The company reported total borrowings of INR 3,048 crore as of March 2025. In addition, Shivalaya Construction may explore a pre-IPO placement of up to INR 90 crore, which would proportionally reduce the size of the fresh issue.
Founded in 2007, the Delhi-based firm operates as an integrated infrastructure engineering, procurement, and construction company with a focus on roads, highways, and bridges. By the end of July 2025, the company had completed 41 projects across 19 states and union territories.
With over 25 years of combined experience in road and highway construction, including specialized structures such as flyovers, elevated roads, bridges, and railway overpasses, Shivalaya Construction has built more than 2,700 lane kilometers of roads and highways. Its projects have ranged from 14 lane kilometers to 210 lane kilometers, and it currently has over 1,500 lane kilometers under execution. The company?s order book includes 14 projects worth INR 3,627 crore as of July 2025.
For fiscal 2025, the company reported consolidated revenue from operations of INR 3,124 crore. To manage the public offering, Shivalaya Construction has appointed IIFL Capital, Axis Capital, and JM Financial as lead managers.
Source PTI
5th Jun, 2025
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