Swastika Infra IPO
GMP, Subscription, Price, Dates & Financial Details
Power and Energy
Incorporated in August 2019, Swastika Infra Limited is an Engineering, Procurement and Construction (EPC) company focused on power transmission and distribution (T&D) infrastructure projects. The Company provides end-to-end turnkey EPC solutions, encompassing the supply, erection, installation,…
Open Date
Wed, 23 Sep 2026
Close Date
Fri, 25 Sep 2026
Price Band
₹ 175 – 185
Lot Size
81
Issue Size
₹ 160.88 Cr
Minimum Investment
₹ 14,985 (81 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
Swastika Infra 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 ₹160.88 Crore, comprising a fresh issue of 69.46 Lakh equity shares aggregating to ₹128.50 Crore and an offer for sale (OFS) of 17.50 Lakh equity shares aggregating to ₹32.38 Crore by the existing shareholders.
The Swastika Infra 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 the NSE and BSE on September 30, 2026.
The company has fixed the price band at ₹175 to ₹185 per share, with a lot size of 81 shares. Retail investors will require a minimum investment of ₹14,985 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited is the registrar to the issue. Srujan Alpha Capital Advisors Llp, and PhillipCapital (India) Private Limited are the Book Running Lead Managers (BRLMs) to the issue.
Before investing in the Swastika Infra 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.
Swastika Infra 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 & NSE
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 Swastika Infra 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 0 shares, representing 0% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 0 shares (0%), while Non-Institutional Investors (NIIs) receive 0 shares (0%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Qualified Institutions | 0 | 0% |
| Retail Investors | 0 | 0% |
| Non-Institutional | 0 | 0% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 412.24 | 258.54 | 143.26 |
| Revenue | 505.57 | 352.6 | 211.33 |
| Profit After Tax | 41.43 | 27.45 | 13.98 |
| Net Worth | 156.78 | 77.02 | 49.57 |
| Reserve & Surplus | 129.6 | 52.27 | 24.82 |
| Total Borrowings | 114.64 | 111.02 | 43.82 |
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.
Swastika Infra Limited KPI Information
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 35.44 | 43.36 | 32.84 |
| ROCE % | 25.76 | 23.14 | 25.15 |
| Debt / Equity | 0.73 | 1.44 | 0.88 |
| RoNW % | 35.44 | 43.36 | 32.84 |
| Pat Margin % | 8.23 | 7.82 | 6.67 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Swastika Infra Limited | 10 | 0 | 15.7 | 15.7 | 35.4 | 57.7 |
| Rajesh Power Services Ltd | 10 | 10.1 | 79.5 | 79.5 | 35.3 | 225.6 |
| Vikran Engineering Ltd | 1 | 14.6 | 4.1 | 4.1 | 7.4 | 48 |
About Swastika Infra Limited
Incorporated in August 2019, Swastika Infra Limited is an Engineering, Procurement and Construction (EPC) company focused on power transmission and distribution (T&D) infrastructure projects. The Company provides end-to-end turnkey EPC solutions, encompassing the supply, erection, installation, testing and commissioning of power infrastructure. Its key areas of operations include underground cabling, construction of Gas Insulated Substations (GIS), Air Insulated Substations (AIS) and grid substations, rural and urban electrification, street lighting, and renewable energy projects. Its scope of work also includes the installation of power transformers, circuit breakers, ring main units and other electrical equipment required for power distribution.
As of July 31, 2026, the Company had successfully completed 36 EPC power projects across six Indian states, covering approximately 18,579.47 km of distribution lines, with an aggregate contract value of ₹76,467 lakh. Its order book comprised 18 ongoing EPC power projects across six states, with an aggregate order value of ₹2,03,665 lakh. The Company has executed projects for various government utilities, including WBSEDCL, MGVCL, APDCL, GED, HPSEBL, UHBVN, JVVNL, UPCL, AVVNL, RSDCL, MSEDCL and RRVPNL. A significant proportion of its projects are funded by the World Bank or supported by the Ministry of Power, Government of India.
The Company operates an asset-light business model, under which erection activities are generally outsourced to third-party contractors, while construction materials and electrical equipment are sourced through its centralized procurement function. Its in-house project engineers and managers supervise project execution and are responsible for maintaining quality standards, ensuring adherence to design specifications and monitoring project timelines. The Company has a dedicated team of 65 engineers and technicians across electrical, mechanical and civil disciplines.
As of July 31, 2026, Swastika Infra Limited had 182 full-time employees, including 65 engineers and technicians and 52 project execution supervisors and other personnel.
Swastika Infra IPO Promoters
Babulal Gupta
Vinay Gupta
Ruchira Gupta
Biren Parnami
Manoj Modi
Vatsalya Gupta
Promoters Holding
Holding Pre Issue
76.51%
Holding Post Issue
57.41%
Swastika Infra IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
Funding incremental working capital requirements of our Company
General corporate purpos
Swastika Infra Limited Address / Contact Details
Swastika Infra Ltd.
Plot no.14 &15, First Floor,
Gajraj Apartment
Motilalatal Road
Opposite Hotel Neelam
Jaipur, Rajasthan, 302001
Telephone: +91 9116135709
E-mail: cs@swastikainfra.com
Website:https://www.swastikainfra.com/
IPO Snapshot
Swastika Infra IPO Lot Size
The Swastika Infra IPO has a lot size of 81 shares. Retail investors require a minimum investment of ₹14,985 by applying for 1 lot (81 shares). The maximum application allowed for the retail category is 13 lots (1,053 shares), requiring an investment of ₹1,94,805.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 81 | 14,985.00 |
| Retail (Max) | 13 | 1,053 | 194,805.00 |
| S-HNI (Min) | 14 | 1,134 | 209,790.00 |
| S-HNI (Max) | 66 | 5,346 | 989,010.00 |
| B-HNI (Min) | 67 | 5,427 | 1,003,995.00 |
Issue Reservation
Book Running Lead Managers
- Srujan Alpha Capital Advisors Llp
- PhillipCapital (India) 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 Swastika Infra IPO?
Swastika Infra IPO is a Book-building IPO with a total issue size of ₹160.88 crore. The Swastika Infra IPO price band is ₹175 to 185 per share. The Swastika Infra IPO subscription opens on Wed, Sep 23, 2026, and closes on Fri, Sep 25, 2026. The Swastika Infra IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Swastika Infra IPO.
When will the Swastika Infra IPO open for subscription?
The Swastika Infra IPO opens on Wed, Sep 23, 2026 and closes on Fri, Sep 25, 2026
What is Swastika Infra IPO Price Band?
Swastika Infra IPO Price Band is ₹175 to 185 per share.
What is Swastika Infra IPO Lot Size?
Swastika Infra IPO lot size is 81 shares, Retail investors need a minimum investment of ₹14985 based on the upper price band
What is the minimum investment for Swastika Infra IPO?
The minimum investment for Swastika Infra IPO is ₹14985, based on one lot of 81 shares at the upper price band of ₹185 per share.
How to apply for Swastika Infra IPO?
Investors can apply for the Swastika Infra 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 Swastika Infra IPO allotment is finalized.
What is Swastika Infra IPO Issue Size?
Swastika Infra IPO issue size is ₹160.88 crores.
What is the Swastika Infra IPO Allotment Date?
Swastika Infra IPO allotment date is Mon, Sep 28, 2026.
Who is the Swastika Infra IPO Registrar?
The registrar for Swastika Infra IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Swastika Infra IPO allotment status, refund processing, and other IPO-related information.
Who is the Swastika Infra IPO Lead Manager?
The book-running lead managers (BRLMs) for the Swastika Infra IPO are Srujan Alpha Capital Advisors Llp and PhillipCapital (India) 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 Swastika Infra IPO Red Herring Prospectus (RHP).