Srinibas Pradhan Ipo
Srinibas Pradhan Constructions IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Novus Capital Advisors Private Limited
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | March 6, 2026 |
| IPO Close Date | March 10, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹91 to ₹98 Per Share |
| Issue Size | Approx ₹20.32 Crores |
| Fresh Issue | Approx ₹16.79 Crores |
| Offer for Sale: | Approx 3,60,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,35,200 |
| Retail Maximum | 2 | 2,400 | ₹2,35,200 |
| S-HNI Minimum | 3 | 3,600 | ₹3,52,800 |
| S-HNI Maximum | 8 | 9,600 | ₹9,40,800 |
| B-HNI Minimum | 9 | 10,800 | ₹10,58,400 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 19,200 Shares | 0.93% |
| NII Shares Offered | 9,75,600 Shares | 47.05% |
| Retail Shares Offered | 9,74,400 Shares | 46.99% |
| IPO Open Date: | March 6, 2026 |
| IPO Close Date: | March 10, 2026 |
| Basis of Allotment: | March 11, 2026 |
| Refunds: | March 12, 2026 |
| Credit to Demat Account: | March 12, 2026 |
| IPO Listing Date: | March 13, 2026 |
| IPO Bidding Cut-off Time: | March 10, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 61,47,397 | 85.27% |
| Promoter Holding Post Issue | 78,60,997 | -% |
| Purpose | Crores |
| Funding the working capital requirements of the Company. | ₹11.55 |
| Repayment of portion of loan availed by our Company | ₹1.00 |
| General Corporate Purpose | – |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹26.35 | ₹24.37 | ₹1.48 | ₹6.50 |
| 2024 | ₹35.27 | ₹30.52 | ₹3.55 | ₹20.83 |
| 2025 | ₹89.73 | ₹80.92 | ₹6.59 | ₹55.76 |
| Sep 2025 | ₹45.63 | ₹40.07 | ₹4.11 | ₹56.67 |
| KPI | Values |
| ROE: | 55.76% |
| ROCE: | 71.01% |
| EBITDA Margin: | 14.50% |
| PAT Margin: | 7.34% |
| Debt to equity ratio: | 1.08 |
| Earning Per Share (EPS): | ₹11.33 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 55.76% |
| Net Asset Value (NAV): | ₹27.36 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| AVP Infracon Limited | 9.29 | 11.84 | 16.29% | 63.80 | 195.73 Cr. |
| Sonu Infratech Limited | 5.28 | 15.74 | 8.34% | 69.10 | 71.94 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |