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Suntech Infra Solutions, a B2B civil construction firm, has opened its IPO today. The IPO aims to raise Rs 44.39 crore. It includes a fresh issue of shares and an offer for sale. The IPO will remain open until June 27. The company plans to list on the NSE SME platform on July 2. View More

Suntech Infra Solutions, a B2B civil construction services provider, has opened its initial public offering (IPO) for subscription today. The Rs 44.39 crore IPO comprises a fresh issue of 39.74 lakh shares worth Rs 34.18 crore and an offer for sale (OFS) of 11.87 lakh shares aggregating to Rs 10.21 crore by existing shareholders. The IPO will close on June 27, with allotment likely to be finalised by June 30. The stock is scheduled to list on the NSE SME platform on July 2. The price band is fixed between Rs 81 and Rs 86 per share, and investors can bid for a minimum lot of 1,600 shares. The IPO is being managed by GYR Capital Advisors, with Mas Services Limited as the registrar. Giriraj Stock Broking is acting as the market maker. Company overview Live Events Incorporated in 2009, Suntech Infra Solutions offers a range of civil construction services, including foundation and structural work. It operates in both public and private sectors across industries like power, oil & gas, steel, cement, refineries, and infrastructure. The company currently has six ongoing projects valued at over Rs 186 crore and an equipment rental order book worth Rs 10.92 crore. It owns a large fleet of modern equipment including piling rigs, diaphragm wall grabs, boom placers, and cranes. Key clients include Bharat Mandapam, IOCL, Ultratech, and the Unity Group. Financial Performance The company has shown steady financial growth. For FY24, it reported revenue of Rs 96.25 crore and profit after tax of Rs 9.25 crore, up from Rs 5.76 crore in FY23. EBITDA margin improved to 28.28%, and PAT margin stood at 9.67%. Its return on equity (ROE) for FY24 is a healthy 28.50%. The IPO proceeds will be utilised to fund working capital needs (Rs 12.21 crore), purchase of construction equipment (Rs 12.51 crore), and for general corporate purposes. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)