Sai Urja Indo Ventures IPO
GMP, Subscription, Price, Dates & Financial Details
Incorporated in 2012, Sai Urja Indo Ventures Limited provides integrated Operation and Maintenance (O&M) and industrial support services. The company primarily serves the power generation sector, as well as heavy industries like iron & steel and agrochemicals. Its expertise spans managing…
Open Date
Wed, 23 Sep 2026
Close Date
Fri, 25 Sep 2026
Price Band
₹ 107 – 113
Lot Size
1200
Issue Size
₹ 24.95 Cr
Minimum Investment
₹ 271,200 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Sai Urja Indo Ventures IPO is set to open its Initial Public Offering (IPO) for subscription on September 23, 2026. According to the Red Herring Prospectus (RHP), the IPO is a book-built issue with a total issue size of ₹24.95 Crore, comprising a fresh issue of 16.13 Lakh equity shares aggregating to ₹20.67 Crore and an offer for sale (OFS) of 3.79 Lakh equity shares aggregating to ₹4.28 Crore by the existing shareholders.
The Sai Urja Indo Ventures IPO will open for subscription on September 23, 2026, and close on September 25, 2026. The basis of allotment is expected to be finalized on September 28, 2026, while the shares are tentatively scheduled to be listed on BSE SME Platform on September 30, 2026.
The company has fixed the price band at ₹107 to ₹113 per share, with a lot size of 1200 shares. Retail investors will require a minimum investment of ₹271,200 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited is the registrar to the issue. Shannon Advisors Private Limited are the Book Running Lead Managers (BRLMs) to the issue.
Before investing in the Sai Urja Indo Ventures IPO, investors should carefully review the company's financial performance, business model, IPO objectives, and risk factors disclosed in the offer documents. Investors should also ensure that they submit their applications before the subscription window closes on September 25, 2026.
Sai Urja Indo Ventures IPO Timeline (Tentative)
- IPO Open Date
- Wed, 23 Sep 26
- IPO Close Date
- Fri, 25 Sep 26
- Basis of Allotment
- Mon, 28 Sep 26
- Initiation of Refunds
- Tue, 29 Sep 26
- Credit of Shares to Demat
- Tue, 29 Sep 26
- Listing Date
- Wed, 30 Sep 26 — BSE
Open Date
23 September 2026
Close Date
25 September 2026
Basis Of Allotment
28 September 2026
Listing Date
30 September 2026
IPO Subscription
Check Live Subscription →The Sai Urja Indo Ventures IPO subscription Data Unavailable. Subscription data will be available once biddings start. Bidding is open from 10:00 AM to 5:00 PM on 23 September 2026
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 7,10,400 shares, representing 35.66% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 3,92,400 shares (19.7%), while Non-Institutional Investors (NIIs) receive 3,02,400 shares (15.18%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Anchor Investors | 586,800 | 29.46% |
| Qualified Institutions | 392,400 | 19.7% |
| Non-Institutional | 302,400 | 15.18% |
| BNII | 201,600 | 10.12% |
| SNII | 100,800 | 5.06% |
| Retail Investors | 710,400 | 35.66% |
| Total | 1,992,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 24.25 | 21.11 | 13.95 |
| Revenue | 85.64 | 65.82 | 45.88 |
| Profit After Tax | 4.19 | 3.13 | 1.39 |
| Net Worth | 12.2 | 7.76 | 4.72 |
| Reserve & Surplus | 6.39 | 1.95 | 4.71 |
| Total Borrowings | 7.18 | 5.35 | 2.15 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Sai Urja Indo Ventures Limited KPI Information
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 42.44 | 50.27 | 34.37 |
| ROCE % | 50.66 | 65.43 | 52.51 |
| Debt / Equity | 0.59 | 0.69 | 0.45 |
| RoNW % | 42.44 | 50.27 | 34.37 |
| Pat Margin % | 4.98 | 4.79 | 3.01 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Sai Urja Indo Ventures Ltd | 10 | 0 | 7.29 | 7.29 | 42.44 | 20.99 |
| Lakshya Powertech Ltd | 10 | 11.27 | 9.94 | 9.94 | 9.82 | 101.17 |
About Sai Urja Indo Ventures Limited
Incorporated in 2012, Sai Urja Indo Ventures Limited provides integrated Operation and Maintenance (O&M) and industrial support services. The company primarily serves the power generation sector, as well as heavy industries like iron & steel and agrochemicals. Its expertise spans managing electrical, mechanical, and instrumentation systems, operating critical plant systems (such as coal handling and merry-go-round networks), equipment overhauls, industrial housekeeping, and skilled manpower supply.
Core Service Offerings
Maintenance Services: Electrical systems maintenance, Control & Instrumentation (C&I), and mechanical jobs.
Operation Services: Operation of Coal Handling Plants (CHP), Merry-Go-Round (MGR) railway systems, and Boiler-Turbine-Generator (BTG) units.
Specialized & Overhaul Services: Industrial housekeeping, Annual Overhauls (AOH), Capital Overhauls (COH), predictive/preventive maintenance, breakdown repairs, condition monitoring, and field instrument calibration.
Contractual Structure Services are delivered through four tender-based contract models:
Annual Maintenance Contracts (AMC): Multi-year agreements typically ranging from 1 to 3 years.
Performance-Based Contracts: Service agreements linked directly to plant output metrics and equipment reliability.
Manpower Supply Contracts: Specialized staffing solutions tailored to industrial requirements.
Short-Term Bill of Quantity (BOQ) Contracts: Task-specific engagements for temporary or project-based needs.
Order Book & Work In Progress (As of June 15, 2026)
Project Status | Count | Value (₹ Lakhs) |
|---|---|---|
Ongoing Projects (Pending Execution) | 17 | 7,165.10 |
New Projects (Uncommenced) | 4 | 2,536.74 |
Total Pipeline | 21 | 9,701.84 |
Workforce As of June 30, 2026, the company employs 1,969 individuals managing field operations, day-to-day business activities, HR, and accounting functions.
Sai Urja Indo Ventures IPO Promoters
- Harsh Ajaykumar Mittal
- Santosh Ajay Kumar Mittal
Promoters Holding
Holding Pre Issue
92.87%
Holding Post Issue
65.67%
Sai Urja Indo Ventures IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding the working capital requirements of the Company
- Repayment/prepayment, in full or part, of certain loans availed by our Company
- General Corporate Purpose
Sai Urja Indo Ventures Limited Address / Contact Details
Sai Urja Indo Ventures Ltd.
UG-2 Office Floor, J. K. Complex,
Nanaji Nagar Nagpur Road,
Chandrapur, Maharashtra, 442401
Tel: +919960815166
Email-id: headoffice@suiv.co.in
Website: https://suiv.co.in/
IPO Snapshot
Sai Urja Indo Ventures IPO Lot Size
The Sai Urja Indo Ventures IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,71,200 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,71,200.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 271,200.00 |
| Retail (Max) | 2 | 2,400 | 271,200.00 |
| S-HNI (Min) | 3 | 3,600 | 406,800.00 |
| S-HNI (Max) | 7 | 8,400 | 949,200.00 |
| B-HNI (Min) | 8 | 9,600 | 1,084,800.00 |
Issue Reservation
- Anchor Investors — 29.46%
- QIB — 19.7%
- NII — 15.18%
- RII — 35.66%
Book Running Lead Managers
- Shannon Advisors Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Sai Urja Indo Ventures IPO?
Sai Urja Indo Ventures IPO is a Book-building IPO with a total issue size of ₹24.95 crore. The Sai Urja Indo Ventures IPO price band is ₹107 to 113 per share. The Sai Urja Indo Ventures IPO subscription opens on Wed, Sep 23, 2026, and closes on Fri, Sep 25, 2026. The Sai Urja Indo Ventures IPO will be listed on the BSE. Maashitla Securities Pvt. Limited is the registrar for the Sai Urja Indo Ventures IPO.
When will the Sai Urja Indo Ventures IPO open for subscription?
The Sai Urja Indo Ventures IPO opens on Wed, Sep 23, 2026 and closes on Fri, Sep 25, 2026
What is Sai Urja Indo Ventures IPO Price Band?
Sai Urja Indo Ventures IPO Price Band is ₹107 to 113 per share.
What is Sai Urja Indo Ventures IPO Lot Size?
Sai Urja Indo Ventures IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹271200 based on the upper price band
What is the minimum investment for Sai Urja Indo Ventures IPO?
The minimum investment for Sai Urja Indo Ventures IPO is ₹271200, based on one lot of 1200 shares at the upper price band of ₹113 per share.
How to apply for Sai Urja Indo Ventures IPO?
Investors can apply for the Sai Urja Indo Ventures IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Sep 25, 2026. The application amount remains blocked until the Sai Urja Indo Ventures IPO allotment is finalized.
What is Sai Urja Indo Ventures IPO Issue Size?
Sai Urja Indo Ventures IPO issue size is ₹24.95 crores.
What is the Sai Urja Indo Ventures IPO Allotment Date?
Sai Urja Indo Ventures IPO allotment date is Mon, Sep 28, 2026.
Who is the Sai Urja Indo Ventures IPO Registrar?
The registrar for Sai Urja Indo Ventures IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check Sai Urja Indo Ventures IPO allotment status, refund processing, and other IPO-related information.
Who is the Sai Urja Indo Ventures IPO Lead Manager?
The book-running lead managers (BRLMs) for the Sai Urja Indo Ventures IPO are Shannon Advisors Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Sai Urja Indo Ventures IPO Red Herring Prospectus (RHP).