Srinibas Pradhan Constructions Limited
Bookbuilding IPO · NSE
- Price band
- ₹91 - ₹98
- Lot size
- 1,200 shares
- Issue amount
- ₹20.32 cr
- Total subscription
- 1.19×
- Opens
- 6 Mar 2026
- Closes
- 10 Mar 2026
- Allotment
- 11 Mar 2026
- Listing
- 13 Mar 2026
Offer at a glance
Issue overview
- Issue size
- 20,73,600 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,09,200
- Fresh issue
- ₹16.79 cr
- Offer for sale
- ₹3.53 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,17,600
- Issue type
- Bookbuilding IPO
- Shares before issue
- 61,47,397
- Shares after issue
- 78,60,997
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,35,200 |
| sHNI | 3 | 3,600 | ₹3,52,800 |
| bHNI | 9 | 10,800 | ₹10,58,400 |
Share reservation
Subscription & GMP
Subscription by category
Reported 10 Mar 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 1 |
| NIB | 0 | 26 |
| RETAIL | 406 | 282 |
| HNIs(10L +) | 181 | 10 |
| HNIs (2-10L) | 90 | 16 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 0.19 | 0.21 |
| Others | 0 | 0.21 |
| RETAIL | 9.55 | 6.63 |
| NIB | 9.56 | 16.03 |
| HNIs 2+ | 3.19 | 0.87 |
| HNIs 10+ | 6.37 | 15.16 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 6.89 | 11.33 | 64.25 | 93.13 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 29.79 | 71.01 | 84.29 | 125.21 |
| RONW | 21.67 | 55.76 | 68.36 | 104.65 |
| PRE IPO(PE) | 0 | 9.15 | 0 | 0 |
| POST IPO(PE) | 9.37 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Srinibas Pradhan Constructions Limited | 9.15 | 98.00 | 10.00 | 35.81 | 21.67 | 6.89 |
| AVP Infracon Limited | 11.84 | 110.00 | 10.00 | 63.80 | 16.29 | 9.29 |
| Sonu Infratech Limited | 15.74 | 83.10 | 10.00 | 69.10 | 8.34 | 5.28 |
Company information
Company profile
Incorporated in 2020, Srinibas Pradhan Constructions Limited (SPCL) works in the infrastructure and utilities sector and focuses on projects related to roads, highways, bridges, electricity and mining infrastructure. The company mainly develops rural, district and urban roads using quality materials like aggregates, sand, tar and cement to build durable infrastructure. It also undertakes construction of high level bridges and steel structures for bridges and industrial sheds. Along with this, SPCL provides complete civil construction services such as foundations, superstructures, multi storey buildings, factories and other industrial projects. The company takes part in competitive bidding for infrastructure projects across Odisha and serves state government departments, public sector undertakings and private corporate clients. Its project portfolio includes roads, bridges, irrigation and canal works, civil construction and industrial development, and as of 15 February 2026, the company has a consolidated order book of Rs. 18,406.95 lakhs.
Strengths
- Experienced Leadership & Strong Industry Presence: The company is managed by experienced promoters, including Mr. Srinibas Pradhan (since 2001) and Mr. Ramakanta Pradhan. Their deep industry experience and guidance support the company’s strong position in the construction and infrastructure sector.
- Qualified and Skilled Workforce: The company has a team of well-trained and experienced engineers with strong technical and practical knowledge, ensuring smooth project execution and high-quality results.
- Strong Backward Integration: The company has reliable sourcing for key materials such as bricks, sand, and other construction inputs. This helps maintain supply stability, control costs, and ensure consistent quality.
Risk factors
- Subsidiary Integration Risk: The recent setup of its wholly owned subsidiary may create challenges related to restructuring, aligning workflows, and smooth operational integration. This will require strong planning and effective change management.
- Limited Geographic Presence: Even though the company has the capability to work across India, expanding into new regions may need extra marketing efforts, partnerships, and strategic investments.
- Supply Chain Disruption Risk: Events like natural disasters or global supply chain issues can delay the availability of materials, which may affect project timelines and overall business operations.
Promoters
Mr. Ramakanta Pradhan
Mr. Srinibas Pradhan
Registrar & documents
Lead manager
Novus Capital Advisors Private Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
C/O- Srinibas Pradhan, Near Chuakani Po-Lamtibaha, Jharsuguda, Jharsuguda, Jharsuguda, Odisha, 768216
+91 6645 251105
[email protected]Company website ↗Understanding SPCON IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.