The listing gain is adjusted upward from the 19.81% GMP baseline due to exceptionally strong institutional demand (QIB 42.26x) and high financial quality (ROE > 26%, Debt/Equity < 0.6). The structural advantage of a predominantly fresh issue (80%) further boosts sentiment compared to a pure OFS.
💪 Strengths
Strong growth in revenue and PAT over the last 3 years
Healthy ROE (26.51%) and ROCE (27.72%)
Low Debt-to-Equity ratio (0.55) for an EPC company
⚠️ Weaknesses
High dependency on government agencies for revenue
Geographic concentration in Northern India
🚀 Opportunities
Expansion into new infrastructure sectors and geographies
Increased government spending on AMRUT and Namami Gange schemes
🛡️ Threats
Delays in government payment cycles
Intense competition in the EPC bidding process
🎯 Objectives of the IPO
Requirement / Purpose
Amount (₹ Cr)
Funding working capital requirements of the Company
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.