The Indian IPO market continues to remain in focus as Current Infraprojects Limited, part of the CIPL Group, launched its maiden public offering on August 26, 2025. The IPO has received overwhelming investor response, being subscribed 54.25 times within the first few hours of opening.

Company Background

CIPL Group, earlier known as Current Service Consultants, was established in 2000 and is headquartered in Jaipur, Rajasthan. Over the past two decades, it has transformed into a leading Engineering, Procurement, and Construction (EPC) company in India. The company has contributed significantly to infrastructure development projects across diverse sectors, with a strong focus on sustainability-first solutions and cutting-edge engineering technologies.

Its subsidiary businesses extend into renewable energy, solar projects, and infrastructure development, positioning the company as a key growth driver in India’s infrastructure ecosystem.

IPO Details

The Current Infraprojects IPO is a Book Built Issue amounting to ₹41.80 crores, consisting entirely of a fresh issue of 52.25 lakh shares. There is no Offer for Sale (OFS) component in the issue, ensuring that all funds raised will be utilized for business expansion.

• IPO Opening Date: August 26, 2025

• IPO Closing Date: August 29, 2025

• Allotment Date: September 1, 2025

• Tentative Listing Date: September 3, 2025

• Exchange: NSE SME Platform

The price band of the IPO is fixed between ₹76 to ₹80 per share, with a lot size of 1,600 shares. Individual retail investors must apply for at least 2 lots (3,200 shares), translating into a minimum investment of ₹2,56,000.

At the upper price band of ₹80, the company’s market capitalization will be ₹153.18 crore.

The IPO is being managed by Holani Consultants Private Limited as the Book Running Lead Manager, while Bigshare Services Private Limited is acting as the Registrar. Holani Consultants is also serving as the Market Maker for this IPO.

Anchor Investors

Ahead of the IPO opening, Current Infraprojects Limited raised ₹11.62 crore from anchor investors at a price of ₹80 per share, by allotting 14,52,800 equity shares. This strong anchor book subscription indicates confidence in the company’s growth prospects.

IPO Subscription Status

On the very first day of its subscription period, as of 12:30 PM on August 26, 2025, the IPO had already been subscribed 54.25 times. This exceptional demand reflects strong investor appetite for growth-oriented EPC companies and the increasing traction in SME IPOs in India.

Investors can check live subscription status on the NSE website for real-time updates.

Grey Market Premium (GMP)

As of 20 August 2025, the Grey Market Premium (GMP) for Current Infraprojects IPO stood at ₹20 per share, indicating an expected listing price of around ₹100 (a 25% premium over the issue price of ₹80).

However, it is important to note that GMP is an unregulated market indicator and does not guarantee actual listing performance. GMP values fluctuate based on demand-supply dynamics and should be viewed only for educational and informational purposes.

IPO Allotment Process

The IPO allotment will be finalized on September 1, 2025, and investors can check their allotment status via the registrar’s website. The process involves:

1. Visiting the IPO allotment status portal.

2. Selecting "Current Infraprojects Limited IPO" from the dropdown list.

3. Entering application number, PAN, or DP Client ID.

4. Submitting details to view allotment.

Investors who receive allotments will have shares credited to their demat accounts before the listing date, while refunds for non-allottees will be processed accordingly.

Use of IPO Proceeds

The net proceeds of the IPO will be utilized for the following purposes:

• ₹585 lakh investment in equity of its wholly owned subsidiary, Current Infra Dhanbad Solar Private Limited, for setting up a 1,800 KW solar power plant at IIT(ISM), Dhanbad under the RESCO Model.

• ₹3,000 lakh to fund the working capital requirements of the company.

• Remaining funds will be used for general corporate purposes.

Key Highlights for Investors

• Strong presence in the EPC and infrastructure sector with a track record of over two decades.

• Focus on renewable energy projects, particularly in solar power, aligning with India’s green energy goals.

• Healthy demand reflected in oversubscription on Day 1.

• Backing from anchor investors, adding credibility to the issue.

• Reasonable GMP trend suggesting a positive listing outlook.

Risks to Consider

While the IPO appears attractive, investors should also consider the risks:

• Being an SME IPO, liquidity may be limited compared to mainboard issues.

• EPC sector faces risks of project delays, regulatory approvals, and working capital pressures.

• Market volatility may impact listing gains and long-term returns.

Conclusion

The Current Infraprojects IPO has generated significant buzz in the market due to its strong subscription numbers, attractive GMP, and promising business outlook in the infrastructure and renewable energy sector.

Investors seeking exposure to growth-oriented EPC and green energy projects may find this IPO appealing, though they should assess risks associated with SME listings before investing.

With allotment scheduled for September 1, 2025, and listing expected by September 3, 2025, all eyes are now on whether Current Infraprojects delivers strong listing gains and sustains investor interest post-listing.

The Upcoming IPOs in this week and coming weeks are Amanta Healthcare, Rachit Paints, Abril Paper Tech, Sneha Organics, Sugs Lloyd, .

The Current active IPO are Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering, Shivashrit Foods, Anondita Medicare, Classic Electrodes (India).

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