Swastika Infra IPO
LISTEDMAINBOARDListing Performance
▲ 8.11%
Issue Price
₹185
Listing Price
₹200
Listed On
30 Sep 2026
- Price Band
- ₹175 – ₹185
- Lot Size
- 81
- Lot Value
- ₹14,985
- Open Date
- 23 Sep23 Sep 2026
- Close Date
- 25 Sep25 Sep 2026
- Min Investment
- ₹14,985
Swastika Infra — Stock Performance
About Swastika Infra
Use of IPO Proceeds
Total allocation: ₹90.00 Cr (excludes issue expenses)
Promoters
Babulal Gupta
Chairman and Non-Executive Director · age 82
Pre-issue: 2.73%
Vinay Gupta
Managing Director · age 55
Pre-issue: 25.86%
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: Equity
Strengths (3)
- •Strong operational knowledge and relationships with government clients.
- •Experienced senior management team with low attrition in key personnel.
- •Successfully manages large-scale power projects with established order book.
Risk Factors (6)
- •First public issue with no formal market history; offer price may not reflect post-listing market price or trading activity.
- •No assurance of active or sustained trading in equity shares post-listing or predictable market price after listing.
- •Equity investments carry significant risk; investors may lose entire investment if unable to bear loss risk.
- •Floor, cap, and offer prices determined via book building process may not indicate actual market valuation post-listing.
- •SEBI has not approved or guaranteed accuracy of prospectus contents; investors must conduct independent examination.
- •Pre-IPO placement subscribers received no assurance company would proceed with offer or achieve successful listing.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 5.86x (QIB 2.63x, NII 15.06x, Retail 3.73x) at close
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 81 | ₹14,985 |
| Retail (max) | 13 | 1,053 | ₹1,94,805 |
| S-HNI (min) | 14 | 1,134 | ₹2,09,790 |
| S-HNI (max) | 66 | 5,346 | ₹9,89,010 |
| B-HNI (min) | 67 | 5,427 | ₹10,03,995 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.69x | 0.99x | 2.63x |
| sNII (S-HNI) | 0.47x | 0.91x | 11.55x |
| bNII (B-HNI) | 2.18x | 2.70x | 16.81x |
| Retail | 0.49x | 1.07x | 3.73x |
| Total | 0.79x | 1.27x | 5.86x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
3.73x
Allotment Ratio
1 lot per 4 applicants
Allotment Probability
~26.8%
Non-Institutional Investors (NII / HNI)
Subscription
15.06x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
2.63x
Allotment Type
Discretionary allotment
Total Subscription
5.86x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹160.88 Cr |
| Fresh Issue | ₹129.00 Cr |
| OFS Size | ₹323.75 Cr |
| Lead Managers | — |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 503.57 | 41.43 | — | — | — |
| FY25 | 350.76 | 27.45 | — | — | — |
| FY24 | 209.58 | 13.98 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 211.33 | 352.6 | 505.57 |
| EBITDA | 23.71 | 43.89 | 70.85 |
| Total Borrowings | — | 111.02 | — |
| Cash Flow — Operating | -3.34 | -76.54 | -9.65 |
| Cash Flow — Investing | -22.74 | 14.15 | -16.33 |
| Cash Flow — Financing | 16.5 | 60.7 | 27.14 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹27.17 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: Swastika Infra offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Swastika Infra's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Swastika Infra's filing.
Source: Swastika Infra offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
Reservation split not disclosed in this filing.Not disclosed in Swastika Infra's filing.
OFS Selling Shareholders
- Vinay Gupta27,35,000 sh
- Ruchira Gupta27,35,000 sh
- Biren Parnami32,80,000 sh
- Manoj Modi32,80,000 sh
- Ishaan Bhartia27,35,000 sh
- Ishita Bhartia27,35,000 sh
Source: Swastika Infra offer document (DRHP/RHP).
Board & Management
Board of Directors (2)
- Vinay Gupta₹1.99 Cr p.a.
Managing Director
- Ruchira Gupta₹1.75 Cr p.a.
Whole-Time Director
Key Managerial Personnel (2)
- Biren Parnami₹1.90 Cr p.a.
Chief Financial Officer
Bachelor of Commerce degree from Mumbai University
around 12 years of experience in the field of finance
- Shipra Gandhi
Company Secretary and Compliance Officer
Associate Member of The Institute of Company Secretaries of India
over 4 years of experience in the field of compliance and secretarial services
Source: Swastika Infra offer document (DRHP/RHP).
Industry & Market
Per Mordor Intelligence, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Swastika Infra Limited | — | 15.7 | 35.4 | 57.7 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Civil | Company | 2 | — |
| Tax | Company | 4 | 0.446 |
| Tax | Promoters | 4 | 2.24 |
Material civil litigation by the Company Direct and indirect tax proceedings against the Company Direct and indirect tax proceedings involving Promoter
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Documents
Frequently Asked Questions
When is the Swastika Infra IPO opening?
The Swastika Infra IPO opens on 23 Sep 2026 and closes on 25 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Swastika Infra IPO?
The price band for the Swastika Infra IPO is ₹175 to ₹185. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Swastika Infra IPO?
The minimum lot size is 81 shares with a minimum investment of ₹14,985. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Swastika Infra IPO today?
The latest Grey Market Premium for Swastika Infra is ₹7 (+3.78%). GMP is unofficial data and is not a guarantee of listing price.
When will the Swastika Infra IPO list on NSE and BSE?
The Swastika Infra IPO is expected to list on 30 Sep 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the Swastika Infra IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Swastika Infra IPO a mainboard or SME issue?
Swastika Infra is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Swastika Infra IPO?
You can apply for the Swastika Infra IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Swastika Infra IPO?
The GMP-implied price (unofficial, not a forecast) is ₹192: the upper price band of ₹185 plus the latest grey market premium of ₹7, as of 30 Sep 2026, 11:33 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Swastika Infra IPO?
Based on the retail subscription of 3.73x, the estimated allotment ratio is 1 lot per 4 applicants (approximately 26.8% chance of allotment). This is an estimate and actual allotment may vary.
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