Srinibas Pradhan Constructions IPO will open for subscription on March 6, 2026 and close on March 10, 2026. The IPO is a Book Building Issue through which the company plans to raise around ₹20.32 crores. The issue consists of a fresh issue worth ₹16.79 crores and an offer for sale of up to 3,60,000 equity shares with a face value of ₹10 per share.
The price band for the Srinibas Pradhan Constructions IPO is fixed at ₹91 to ₹98 per share. The allocation for investors is divided into 50% for QIBs, 15% for HNIs/NII, and 35% for retail investors. The shares are scheduled to be listed on the NSE SME platform on March 13, 2026. The IPO allotment is expected to be finalized on March 11, 2026.
The company reported revenue of ₹89.73 crores in FY2025 compared to ₹35.27 crores in FY2024. Profit after tax stood at ₹6.59 crores in FY2025 against ₹3.55 crores in FY2024. Based on the financial performance, the IPO appears suitable for long-term investors who are comfortable with SME segment risks.
Contents
Srinibas Pradhan IPO Details
| Particulars | Details |
|---|---|
| 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 | View PDF |
| RHP Draft Prospectus | View PDF |
Srinibas Pradhan IPO
Open: 6-10 March
Issue Size: ₹20.32 Cr.
Objective: To fund working capital, repay some loans & support growth.
Exchange: NSE SME
Srinibas Pradhan Constructions IPO Review
The Srinibas Pradhan Constructions IPO is receiving a neutral review from market observers. The company operates in the infrastructure and civil construction sector, primarily focusing on roads, bridges, and industrial development projects. Over the past two years, the firm has shown strong growth in both revenue and profit, which indicates expanding project execution and order inflow.
However, as an SME infrastructure company, its performance is largely dependent on government contracts, project execution timelines, and working capital management. Investors should also consider the relatively small issue size and liquidity risks associated with SME listings. Long-term investors who believe in the infrastructure growth story in India may consider evaluating the company further before investing.
Srinibas Pradhan Constructions IPO Market Lot
The minimum market lot for the Srinibas Pradhan IPO is 2,400 shares, requiring an application amount of ₹2,35,200.
| 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 |
IPO Reservation
| 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% |
Srinibas Pradhan Constructions IPO Dates
| Event | Date |
|---|---|
| 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 |
Promoters and Holding Pattern
The promoters of the company are Mr. Ramakanta Pradhan and Mr. Srinibas Pradhan.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 61,47,397 | 85.27% |
| Promoter Holding Post Issue | 78,60,997 | – |
Objects of the Issue
The company plans to utilise the funds raised through the IPO mainly for business expansion and operational requirements. A major portion of the proceeds, around ₹11.55 crores, will be used to fund the company’s working capital requirements, which are critical for executing infrastructure projects and managing operational expenses.
Additionally, ₹1.00 crore will be used for repayment of a portion of the existing loans taken by the company. The remaining funds will be used for general corporate purposes to strengthen the company’s financial position and support future growth opportunities.
About Srinibas Pradhan Constructions IPO
Srinibas Pradhan Constructions Limited (SPCL) was incorporated in 2020 and operates in the infrastructure and utilities sector. The company undertakes projects related to roads, highways, bridges, electricity infrastructure, and mining infrastructure. Its core operations include civil construction, bridge development, steel structures, and industrial infrastructure development.
The company primarily participates in government tenders and bidding processes to secure infrastructure contracts, particularly in the state of Odisha. Its client base includes government departments, public sector undertakings, and private sector companies. With an experienced workforce, diversified project portfolio, and a growing presence in infrastructure development, the company aims to expand its footprint through better project execution and operational efficiency.
Business Analysis and Financial Health
Srinibas Pradhan Constructions Limited operates in the infrastructure contracting segment, mainly executing civil construction projects such as roads, bridges, and industrial infrastructure. The company has shown strong revenue growth, with turnover increasing significantly from ₹35.27 crores in FY2024 to ₹89.73 crores in FY2025, indicating improved project execution and higher order inflows.
Profitability has also improved steadily, with PAT rising to ₹6.59 crores in FY2025. The company maintains healthy return ratios such as ROE of 55.76% and ROCE of 71.01%, which are relatively strong for a small infrastructure contractor. However, the business remains capital intensive and dependent on government project awards. Sustainable growth will depend on securing new contracts, managing working capital efficiently, and maintaining project delivery timelines.
Srinibas Pradhan Constructions IPO Company Financial Report
Amount ₹ in Crores
| 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 |
Srinibas Pradhan Constructions IPO Valuation – FY2025
| 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 |
Peer Group Comparison
| 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 |
IPO Lead Managers (Merchant Bankers)
Novus Capital Advisors Private Limited
Company Address
| Particular | Details |
|---|---|
| Company Name | Srinibas Pradhan Constructions Ltd. |
| Address | C/O- Srinibas Pradhan, Near Chuakani Po-Lamtibaha |
| City | Jharsuguda |
| State | Odisha |
| Pincode | 768216 |
| Phone | +91 6645 251105 |
| cs@srinibaspradhan.com | |
| Website | https://www.srinibaspradhan.com |
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: Investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Srinibas Pradhan Constructions IPO FAQs
What is Srinibas Pradhan IPO?
Srinibas Pradhan IPO is an SME IPO through which the company plans to raise around ₹20.32 crores. The price band is ₹91 to ₹98 per share and the shares will be listed on the NSE SME platform.
When will Srinibas Pradhan Constructions IPO open for subscription?
The IPO will open on March 6, 2026 for QIB, NII, and Retail investors and will close on March 10, 2026.
What is the investor quota in the IPO?
The investor allocation is 50% for QIBs, 15% for NII/HNI investors, and 35% for retail investors.
How to apply for Srinibas Pradhan Constructions IPO?
Investors can apply through ASBA via their bank account. Applications can also be submitted through UPI using stock broker platforms or by submitting offline IPO forms through brokers.
What is the issue size of Srinibas Pradhan Constructions IPO?
The total issue size of the IPO is approximately ₹20.32 crores.
What is the price band of Srinibas Pradhan Constructions IPO?
The price band for the IPO is ₹91 to ₹98 per equity share.
What is the lot size of Srinibas Pradhan Constructions IPO?
The minimum application lot is 2,400 shares, which requires an investment of ₹2,35,200 at the upper price band.
What is the allotment date for Srinibas Pradhan Constructions IPO?
The IPO allotment is expected to be finalized on March 11, 2026.
What is the listing date for Srinibas Pradhan Constructions IPO?
The shares are expected to be listed on the NSE SME platform on March 13, 2026.
Expert Comment
Srinibas Pradhan Constructions Limited operates in a sector that benefits from India’s ongoing infrastructure development. The company has reported strong revenue growth and healthy return ratios in recent years, indicating operational expansion. However, as an SME infrastructure contractor, the business remains dependent on project bidding cycles and working capital availability.
Investors should evaluate the company’s order book, financial sustainability, and SME listing risks before applying. The IPO may suit investors with a long-term perspective who are comfortable with the volatility typically associated with SME stocks.
