Active Infrastructures Limited, a renowned civil construction company, has launched its Initial Public Offering (IPO) with a Book Built Issue worth ₹ 77.83 Crores. The IPO consists entirely of a Fresh Issue of 43.00 Lakh Shares and is set to open for subscription from March 21, 2025, to March 25, 2025. The allotment is expected to be finalized on March 26, 2025, and the company is scheduled for NSE SME listing on March 28, 2025.

The price band for the IPO is ₹ 178 to ₹ 181 per equity share, valuing the company's market capitalization at ₹ 271.77 Crores at the upper end of the price band. Retail investors need to invest a minimum of ₹ 1,08,600 (600 shares per lot), while High-Net-Worth Individuals (HNIs) must invest at least ₹ 2,17,200 (1,200 shares or 2 lots).

IPO Lead Manager, Registrar, and Market Maker

• Book Running Lead Manager: Kreo Capital Private Limited

• Registrar: BIGSHARE SERVICES PRIVATE LIMITED

• Market Maker: Badjate Stock & Shares Private Limited

Active Infrastructures IPO Grey Market Premium (GMP) Update

The Grey Market Premium (GMP) for Active Infrastructures Limited IPO is currently ₹ 0, reflecting the financial performance and demand-supply factors in the unorganized market. Investors should note that GMP is unofficial and speculative and does not determine the actual listing price of the shares.

Active Infrastructures IPO Live Subscription Status

As of 12:00 PM on March 24, 2025, the IPO is subscribed 0.27 times on its second day. Investors can track the Live Subscription Status on NSE for real-time updates.

Anchor Investors and Fund Allocation

The company has raised ₹ 4.43 Crores from Anchor Investors at the upper band price of ₹ 181 per share, allocating 2,44,800 equity shares before the public subscription phase.

Objectives of Active Infrastructures IPO

The company plans to utilize the IPO proceeds for the following purposes:

1. ₹ 3,898.04 Lakhs – Funding Working Capital Requirements.

2. ₹ 1,672.34 Lakhs – Repayment/Prepayment of Borrowings & Bank Guarantee Margin Money.

3. ₹ 704.80 Lakhs – Capital expenditure for purchasing construction equipment.

4. General Corporate Purposes.

5. Issue Expenses Coverage.

Promoters and Business Overview

The promoters of Active Infrastructures Limited include Mr. Sunil Gyanchand Raisoni, Mr. Shreyas Sunil Raisoni, Riaan Diagnostic Private Limited, and Shradha Infraprojects Limited. Mr. Sunil Raisoni, a key promoter, is a veteran in the construction sector and a patron of Raisoni Group of Institutions. Shradha Infraprojects Limited, incorporated in 1997, has executed multiple high-value construction projects.

Financial Performance

The company has demonstrated consistent revenue growth and strong profitability over the last few years.

Key Performance Metrics

• Pre-Issue EPS: ₹ 8.48 | Post-Issue EPS: ₹ 6.96

• Pre-Issue P/E Ratio: 21.34x | Post-Issue P/E Ratio: 26.02x

• Industry P/E Ratio: 18x

• ROCE: 14.90% | ROE & RoNW: 36.22%

• Annualized EPS: ₹ 8.7 | PE Ratio: 20.80x

IPO Allotment & How to Check Allotment Status

The IPO allotment will be finalized on March 26, 2025. Investors can check their IPO allotment status through the Registrar’s Website by following these steps:

1. Visit the IPO allotment status page.

2. Select Active Infrastructures Limited IPO.

3. Enter Application Number, PAN, or DP Client ID.

4. Submit to check the allotment status.

Listing Date and Final Verdict

Active Infrastructures Limited shares are set to be listed on the NSE SME on March 28, 2025. Given the company’s valuation, financial performance, and market sentiment, the IPO appears fully priced. The zero GMP suggests limited listing gains, and investors are advised to evaluate long-term potential before investing.

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