The initial public offer (IPO) of Suntech Infra Solutions received bids for 1,62,49,600 shares as against 36,92,800 shares on offer, as per NSE data as of 17:00 hours on Wednesday (25 June 2025). The issue was subscribed 4.40 times.
The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 81 to Rs 86 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE’s SME platform.
Initial public issue of offer upto 51,61,600 equity shares comprising a fresh issue of upto 39,74,400 equity shares and offer for sale (OFS) of upto 11,87,200 equity shares.
About 2,59,200 equity shares will be reserved for subscription by market maker to the issue. The net offer comprises of 49,02,400 equity shares including anchor allocation portion.
The company intends to utilize the net proceeds for funding working capital requirements of the company, funding of capital expenditure requirements of the company towards purchase of construction equipments for civil construction business and general corporate purposes.
Ahead of the Suntech Infra Solutions on Tuesday, 24 June 2025, raised Rs 12.63 crore from anchor investors. The board has allotted 14.68 lakh shares at Rs 86 per share to 7 anchor investors.
Suntech Infra Solutions is engaged in the business of civil construction services, including civil foundation works (such as piling and foundation work), civil structural works, and construction equipment rentals. The company has provided services to both the public and private sectors. Its clients include companies operating in the power, oil & gas, steel, cement, renewable energy, refineries, petrochemical plants, fertilizer plants, and process plants industries, as well as in urban and rural infrastructure development projects such as bridges, metros, irrigation projects, and more. As of 31 December 2024, the company has total 576 employees.
The company recorded revenue from operations of Rs 89.72 crore and net profit of Rs 10.28 crore for the period ended 31 December 2024.