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Updated: 29-Sep 22:37

Swastika Infra IPO

ClosedIPO

Listing at: BSE, NSE • Plot no.14 &15, First Floor, Gajraj ApartmentMotilalatal RoadOpposite Hotel NeelamJaipur, Rajasthan, 302001

Allotment status Allotment is outDeclared 28 Sept 2026

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Jump To:Details & Timeline Reservation & Anchor Lot Sizes & Promoter Broker Reviews Market Data (GMP)Subscription & Funding Strengths & Risks Financials KPIs About Company Shariah Audit Documents Registrar & Leads

Disclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.

Live GMP Today

₹7 (3.78%)

Rating:1/5

Est. Listing Price

₹192

Est. Gain: +3.8%

Est. Profit / Lot

₹567

Per Retail Application

Price Band

₹185

Face Value: ₹10

Min. Retail Inv.

₹14,985

Lot: 81 Shares

Total Subscription

7.91x

Anchor: Yes

Swastika Infra IPO GMP History

Genuine daily snapshots retained by the WeeStox backend

1/5 Rating

Disclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.

GMP date	IPO price	GMP	Premium	Est. profit / lot	Subscription	Movement
29 Sept 2026	₹185	+₹7	3.78%	+₹567	7.91x	↑ Up
28 Sept 2026	₹185	+₹6.5	3.51%	+₹526.5	7.91x	Flat
27 Sept 2026	₹185	+₹6.5	3.51%	+₹526.5	7.91x	↑ Up
26 Sept 2026	₹185	+₹4.5	2.43%	+₹364.5	7.91x	Flat
25 Sept 2026	₹185	+₹4.5	2.43%	+₹364.5	7.91x	↓ Down
24 Sept 2026	₹185	+₹9	4.86%	+₹729	1.7x	↓ Down
23 Sept 2026	₹185	+₹9.5	5.14%	+₹769.5	1x	Flat

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Swastika Infra IPO Details

IPO Date	23 Sept 2026 to 25 Sept 2026
Listing At	BSE, NSE
Face Value	₹10 per share
Price Band	₹185
Lot Size	81 Shares
Total Issue Size	₹160.88 Cr(₹1,255.57 Cr)
Fresh Issue	69.46L shares (₹128.5 Cr)
Offer for Sale (OFS)	₹32.38 Cr (approx 2.74 Cr shares)
Issue Type	Book Built Issue IPO

Swastika Infra IPO Timetable

IPO Open Date	23 Sept 2026
IPO Close Date	25 Sept 2026
Basis of Allotment	28 Sept 2026
Initiation of Refunds	29 Sept 2026
Credit of Shares to Demat	29 Sept 2026
Listing Date	30 Sept 2026
Cut-off time for UPI Mandate	5 PM on 25 Sept 2026
Employee Discount	₹20.00/share (Up to 52,083 shares)

Swastika Infra IPO Reservation

Category	Reservation	Shares Offered
QIB Shares Offered	50.00%	43,47,973
− Anchor Investor Shares Offered	30.00%	26,08,782
− QIB (Ex. Anchor) Shares Offered	20.00%	17,39,191
NII (HNI) Shares Offered	15.00%	13,04,392
− bNII > ₹10L Shares Offered	10.00%	8,69,595
− sNII < ₹10L Shares Offered	5.00%	4,34,797
Retail Shares Offered	35.00%	30,43,581

Swastika Infra Anchor Details

PDF

Anchor Bid Date	22 Sept 2026
Anchor Shares Offered	26,08,782 Shares
Total Anchor Portion	₹48.26 Cr
Lock-in 50% End Date	28 Oct 2026 (30 Days)
Lock-in Rem. 50% Date	27 Dec 2026 (90 Days)

Swastika Infra IPO Lot Size

Application	Lots	Shares	Amount (Cut-off)	Reserved Applications
Retail (Min)	1 Lot	Shares	₹14,985	–
Retail (Max)	13 Lots	Shares	₹1,94,805	–
S-HNI (Min)	14 Lots	Shares	₹2,09,790	–
S-HNI (Max)	66 Lots	Shares	₹9,89,010	–
B-HNI (Min)	67 Lots	Shares	₹10,03,995	–

Swastika Infra Promoter Holding

Pre-Issue Holding	Disclosed in RHP
Post-Issue Holding	To be calculated

Swastika Infra IPO Broker Consensus & Reviews

Institutional and brokerage house recommendations with verified review reports

Consensus:50% Positive (Apply)

Apply: 3 (50%)Neutral: 2 (33%)Avoid: 1 (17%)

Total: 6 Analysts

Broker / Research Firm	Recommendation	Research Report
Arihant Capital Markets Ltd	Neutral	View Review
SBICAP Securities Limited	Neutral	View Review
BP Equities (BP Wealth)	Apply	View Review
Ventura Securities Limited	Apply	View Review
Swastika Investmart Ltd	Apply	View Review
Adroit Financial Services Private Limited	Avoid	View Review

Swastika Infra IPO Live Subscription Status

Bidding demand breakdown by shares, institutional demand in ₹ Cr, applications & HNI funding cost

Overall Demand:7.91x

05:16 pm

Investor Category	Shares Offered	Shares Bidded	Subscription Times
QIBs	17,39,191	17,80,056	1.02x
HNIs	13,04,392	35,32,167	2.71x
↳ HNIs 10+	8,69,595	28,60,353	3.29x
↳ HNIs 2+	4,34,797	6,71,814	1.55x
Retail	30,43,581	51,58,890	1.70x
Total	60,87,164	1,04,71,113	1.72x
QIBs	32	33	1.02x
FIIs	–	–	0.00x
DIIs	–	10	0.00x
Mutual funds	–	–	0.00x
Others	–	23	0.00x
HNIs	24	65	2.71x
↳ HNIs 10+	16	53	3.29x
↳ HNIs 2+	8	12	1.55x
Retail	56	95	1.70x
Total	113	194	1.72x

Swastika Infra Limited Financial Information (Restated Consolidated in ₹ Crores)

Period Ended	Assets	Total Income	Profit After Tax	EBITDA	Net Worth	Total Borrowing
31 Mar 2026	₹412.24 Cr	₹505.57 Cr	₹41.43 Cr	₹70.85 Cr	₹156.78 Cr	₹114.64 Cr
30 Mar 2026	₹412.24 Cr	₹505.57 Cr	₹41.43 Cr	₹70.85 Cr	₹156.78 Cr	₹114.64 Cr
31 Mar 2025	₹258.54 Cr	₹352.60 Cr	₹27.45 Cr	₹43.89 Cr	₹77.02 Cr	₹111.02 Cr
30 Mar 2025	₹258.54 Cr	₹352.60 Cr	₹27.45 Cr	₹43.89 Cr	₹77.02 Cr	₹111.02 Cr
31 Mar 2024	₹143.26 Cr	₹211.33 Cr	₹13.98 Cr	₹23.71 Cr	₹49.57 Cr	₹43.82 Cr
30 Mar 2024	₹143.26 Cr	₹211.33 Cr	₹13.98 Cr	₹23.71 Cr	₹49.57 Cr	₹43.82 Cr

Swastika Infra Key Valuation & Financial KPIs

ROE35.44%

ROCE25.76%

Debt / Equity0.73x

P/E (Post IPO)15.24

EBITDA Margin14.07%

Market Cap₹631.2 Cr

Swastika Infra IPO Analysis

Review the company's key advantages and material business risks.

Strengths & Positives

Competitive advantages and operational merits

Incorporated in August 2019, Swastika Infra Limited is an Engineering, Procurement, and Construction (EPC) company specializing in power distribution infrastructure projects and the sale of electrical products.
The company provides end-to-end turnkey solutions for power infrastructure, covering procurement, supply, erection, installation, testing, and commissioning. Its EPC activities include underground cabling, construction of GIS and AIS substations, rural and urban electrification projects, and installation of street lighting systems.
The company also undertakes the trading of electrical products, including power cables and other electrical items. While EPC Power Projects remain its primary focus, the sale of electrical products forms part of its business operations.
Strong Project Execution Capabilities: The company has strong project management and execution capabilities, supporting its ability to undertake end-to-end power distribution infrastructure projects.
Growing Government-Funded Order Book: The company has a growing order book comprising projects funded by central government and multilateral institutions. This provides visibility for its ongoing and future project execution.
Consistent Financial Performance: The company has demonstrated strong and consistent financial performance, supporting its operations and growth across its EPC power infrastructure business.
Dependence on Government Projects: The company's revenue is majorly concentrated from projects undertaken or awarded by government utilities. Adverse changes in government policies could result in contracts being foreclosed, terminated, restructured, or renegotiated, which may materially affect its business and results of operations.

About Swastika Infra Limited

Swastika Infra IPO is a book build issue of ₹160.88 crores. The issue is a combination of fresh issue of 69.46 lakh shares aggregating to ₹128.50 crores and offer for sale of 17.50 lakh shares aggregating to ₹32.38 crores.Swastika Infra IPO bidding opened for subscription on Sep 23, 2026 and will close on Sep 25, 2026. The allotment for the Swastika Infra IPO is expected to be finalized on Sep 28, 2026. Swastika Infra IPO will list on NSE and BSE with a tentative listing date fixed as Sep 30, 2026.Swastika Infra IPO is set issue price band at ₹175 to ₹185 per share. The lot size for an application is 81 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,985 (81 shares) (based on upper price).Srujan Alpha Capital Advisors LLP is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.Refer to Swastika Infra IPO RHP for detailed Information.

Incorporated in August 2019, Swastika Infra Limited is an engineering, procurement and construction (EPC) company specializing in power transmission and distribution (T&D) infrastructure projects.The Company provides turnkey EPC solutions covering the supply, erection, installation, testing and commissioning of power infrastructure. Its key areas of work include underground cabling, construction of Gas Insulated Substations (GIS), Air Insulated Substations (AIS) and Grid Substations, rural and urban electrification, street lighting and renewable energy works. Its projects involve installation of power transformers, circuit breakers, ring main units and other electrical infrastructure required for power distribution. As of July 31, 2026, the Company had completed 36 EPC Power Projects across six Indian states, covering 18,579.47 km of distribution lines, with an aggregate contract value of ₹76,467 lakh. Its order book comprised 18 ongoing EPC Power Projects across six states with an aggregate order value of ₹2,03,665 lakh. The Company has executed projects for government utilities including WBSEDCL, MGVCL, APDCL, GED, HPSEBL, UHBVN, JVVNL, UPCL, AVVNL, RSDCL, MSEDCL and RRVPNL. A significant portion of its projects are funded by the World Bank or supported by the Ministry of Power, Government of India. The Company follows an asset-light business model, with erection work typically assigned to third-party contractors while its centralized procurement team supplies construction materials and electrical equipment. Its in-house project engineers and managers oversee project execution, quality, design specifications and timelines. The Company has a dedicated team of 65 engineers and technicians across electrical, mechanical and civil disciplines. As of July 31, 2026, the Company had 182 full-time employees, including 65 Engineers & Technicians and 52 Project Execution Supervisors & Others. • Experienced promoters and management team. • Asset-light business model with centralized procurement. • Scalable business model supported by a strong order book. • Proven execution track record across multiple Indian states. • Established track record with government utilities and infrastructure clients. • Strong project management and execution capabilities in EPC Power Projects. • Diversified capabilities across power distribution, transmission and renewable energy.

Shariah Compliance Screening (AAOIFI Standard 21)

Business ActivityRequires ReviewImpermissible Revenue ≤ 5%

Debt-to-Assets RatioN/AThreshold ≤ 33% of Assets

Purification GuidanceStandard 0.5%Donate interest dividend fraction

Auditor Notes: Sector information not available — cannot screen business activity

Swastika Infra IPO Documents & Reports

Official prospectus, reports and regulatory filings

Document Title	Authority / Host	Status	Action
Red Herring Prospectus (RHP) Complete offer document filed with ROC & SEBI	SEBI / ROC	Available	View RHP
Draft Red Herring Prospectus (DRHP) Initial regulatory draft submitted for public comments	SEBI Filings	Filed	View DRHP
Anchor Investor Allocation Report Allotment list to institutional bidders	BSE / NSE Circular	Disclosed	Anchor PDF
IPO Allotment Status & Basis of Allotment Registrar query portal via PAN / Application No.	MUFG Intime India Pvt.Ltd.	Live Portal	Check Allotment
Corporate Website & Investor Relations Official portal and financial reports	Issuer Portal	Active	Visit Portal

Swastika Infra IPO Registrar & Lead Managers

Registrar of the Issue

MUFG Intime India Pvt.Ltd.

022-49186000

swastikainfra.ipo@in.mpms.mufg.com

Check Allotment Status Online →

Book Running Lead Managers (BRLM)

Srujan Alpha Capital Advisors LLP
PhillipCapital India Pvt.Ltd.

Registered Office

Plot no.14 &15, First Floor, Gajraj ApartmentMotilalatal RoadOpposite Hotel NeelamJaipur, Rajasthan, 302001