Srinibas Pradhan Constructions Initial Public Offering Commences; Check Grey Market Premium, Subscription Status, and Key Details
Srinibas Pradhan Constructions IPO Update
Initial Public Offering (IPO) Details
- IPO Price Band: ₹91-₹98 per share
- IPO Subscription Period: March 6-10
- SME IPO Allotment Date: Wednesday, March 11
- Listing Date: Friday, March 13
Grey Market Premium (GMP) The grey market premium for Srinibas Pradhan Constructions is ₹0, indicating a muted investor sentiment.
IPO Subscription Status (as of 12:52 pm, Day 1)
- Subscription: 0.02 times
- Retail Portion: 0.02 times
- NII Portion: 0.01 times
- QIBs Portion: No bids received
IPO Details
- Issue Size: ₹20.38 crore
- Issue Type: Fresh Issue and Offer for Sale (OFS)
- Fresh Issue: 17 lakh shares, ₹16.79 crores
- Offer for Sale: 4 lakh shares, ₹3.53 crore
Utilisation of Proceeds The net proceeds from the issue will be used to support business operations and financial obligations. Specifically:
- ₹11.55 crore for working capital requirements
- ₹1 crore for partial repayment of loans
- Remaining funds for general corporate purposes
Read also: SMR Jewels IPO Successfully Lists with Institutional Support
IPO Details - Book Running Lead Manager and Registrar
- Book Running Lead Manager: Novus Capital Advisors Private Limited
- Registrar: Maashitla Securities Pvt Ltd
- Market Maker: Rikhav Securities Ltd.
About Srinibas Pradhan Constructions Srinibas Pradhan Constructions Limited is an infrastructure company based in Odisha, undertaking projects involving road and bridge construction, industrial buildings, and maintenance work. In FY25, road and bridge construction contributed 70.23% of revenue, followed by industrial and other building projects at 23.82%. The company operates largely on a B2B model, with 91.19% of FY25 revenue coming from non-government clients.
Order Book As of February 2026, the company's order book stood at ₹184.07 crore.
Investor Takeaway
Monitor the IPO subscription status and grey market premium for Srinibas Pradhan Constructions.
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