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Suntech Infra Solutions, a B2B civil construction company, has rolled out its INR 44.39 crore initial public offering (IPO), marking a key step in its growth strategy. The IPO, which opened for public subscription earlier this week, includes both a fresh issue and an offer for sale, priced between INR 81 and INR 86 per share. The fresh capital will fund working capital needs, acquisition of construction equipment, and general corporate purposes. The shares are set to be listed on the NSE's SME platform, underlining the company's commitment to long-term infrastructure expansion.
Suntech Infra Solutions, a business-to-business construction company, officially announced the price band for its INR 44.39 crore initial public offering (IPO), setting it in the range of INR 81 to INR 86 per share. The IPO opened for subscription recently and remained active for three days, aiming to attract both retail and institutional investors. The shares will soon be listed on the NSE's SME platform, adding a fresh milestone to the company's capital journey. Advertisement
The offering comprises two components: a fresh issue of up to 39.74 lakh equity shares aggregating to INR 34.18 crore, and an offer for sale (OFS) of 11.87 lakh shares totaling INR 10.21 crore. While the fresh issue will infuse new capital into the company, the OFS enables existing shareholders to partially offload their stake.
According to the company, the net proceeds from the fresh issue will be utilised primarily to support working capital requirements and to invest in capital expenditure for acquiring construction equipment, which is crucial to its core business in civil construction. A portion of the proceeds will also be directed toward general corporate purposes, reflecting a balanced deployment strategy focused on operational enhancement.
Suntech Infra Solutions offers a wide range of civil construction services, including foundational and structural works, executed through direct contracts, sub-contracting models, and equipment rental solutions. The firm has steadily built a diverse clientele across public and private sectors and has delivered projects in power, oil & gas, steel, cement, and renewable energy industries positioning itself as a versatile player in the infrastructure space.
For the fiscal period ending December 31, 2024, the company reported a profit after tax of INR 10.3 crore and revenue from operations of INR 89.72 crore, highlighting its solid financial footing ahead of the public issue. GYR Capital Advisors is acting as the book-running lead manager for the IPO, while Mas Services has been appointed as the registrar, managing the share allotment and investor-related services.
Source: PTI
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