Current Infraprojects Limited, part of the CIPL Group, is gearing up to launch its Initial Public Offering (IPO), which is scheduled to open for subscription on August 26, 2025, and close on August 29, 2025. This IPO comes at a time when several infrastructure-focused companies are raising funds to expand their operations, and it positions itself as an attractive opportunity for investors looking at India’s growing infrastructure and construction sector.

Company Background

CIPL Group, earlier known as Current Service Consultants, is a well-established Engineering, Procurement, and Construction (EPC) company headquartered in Jaipur, Rajasthan. Since its establishment in 2000, the group has played a significant role in India’s infrastructure development. Its projects span across mechanical, electrical, and civil engineering works, with a strong emphasis on sustainability-first solutions.

The company has earned a reputation for its engineering excellence and cutting-edge technology. Over the years, it has successfully executed multiple projects across diverse sectors, contributing to India’s urban and industrial infrastructure growth.

The company is promoted by Mr. Sunil Singh Gangwar, Chairman and Managing Director, who holds a Bachelor of Engineering (Electrical) from the University of Rajasthan. With over 32 years of experience in the mechanical and electrical engineering fields, his leadership and vision have been pivotal in the company’s journey. The experience of the promoters and the strong management team has ensured consistent growth and steady financial performance.

IPO Details

The Current Infraprojects IPO is a Book Built Issue amounting to ₹41.80 crore, consisting entirely of a fresh issue of 52.25 lakh equity shares. There is no Offer for Sale (OFS) component, which means the proceeds will directly support the company’s expansion plans and working capital requirements.

• Price Band: ₹76 to ₹80 per share

• Lot Size: 1,600 shares

• Minimum Investment for Retail Investors: 2 lots (3,200 shares) = ₹2,56,000

• Issue Size: ₹41.80 crore (entirely fresh issue)

• Market Capitalisation (at ₹80 per share): ₹153.18 crore

• Listing Exchange: NSE SME platform

• IPO Open Date: August 26, 2025

• IPO Close Date: August 29, 2025

• Allotment Date: September 1, 2025

• Listing Date: September 3, 2025 (tentative)

• Lead Manager: Holani Consultants Private Limited

• Registrar: Bigshare Services Private Limited

• Market Maker: Holani Consultants Private Limited

The IPO aims to raise capital to support the company’s growth strategy, strengthen its balance sheet, and expand its operations in the infrastructure sector.

Anchor Investors

Ahead of the IPO, Current Infraprojects raised ₹11.62 crore from anchor investors by issuing 14,52,800 equity shares at ₹80 per share. This shows a strong level of institutional interest and confidence in the company’s growth story. Anchor investors are allocated shares from the Qualified Institutional Buyers (QIBs) portion.

Financial Performance

The company’s financials indicate consistent and robust growth over the past three years:

• Revenue from Operations:

  • FY 2025: ₹9,132.68 lakh

  • FY 2024: ₹7,772.86 lakh

  • FY 2023: ₹6,105.60 lakh

• EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation):

  • FY 2025: ₹1,519.24 lakh

  • FY 2024: ₹847.43 lakh

  • FY 2023: ₹340.45 lakh

• Profit After Tax (PAT):

  • FY 2025: ₹945.37 lakh

  • FY 2024: ₹508.92 lakh

  • FY 2023: ₹149.24 lakh

This strong growth trajectory shows the company’s ability to scale operations effectively. Its profitability has grown significantly, more than doubling between FY 2024 and FY 2025.

Valuation Metrics

The company’s pre-issue EPS (Earnings Per Share) stands at ₹7.00, while the post-issue EPS is estimated at ₹4.94 for FY 2024. The pre-issue P/E ratio is 11.43x, and the post-issue P/E ratio is 16.20x. Comparatively, the industry P/E ratio is around 17x, suggesting that the IPO is fairly priced.

Other financial indicators include:

• ROCE (Return on Capital Employed): 26.49% in FY 2024

• ROE (Return on Equity): 49.75% in FY 2024

• RoNW (Return on Net Worth): 39.40%

These ratios reflect the company’s efficient use of capital and high return potential for shareholders.

Grey Market Premium (GMP)

As of August 20, 2025, the Grey Market Premium (GMP) of Current Infraprojects IPO stands at ₹20 per share, which translates to an expected listing price of ₹100 (25% gain over the upper price band).

However, it is important to note that GMP is unofficial and speculative, as it depends on demand and supply in the unregulated grey market. Investors are advised not to rely solely on GMP while making investment decisions.

Subscription Details

The IPO subscription window will remain open from August 26 to August 29, 2025. Investors can subscribe under different categories – Retail, Non-Institutional Investors (NII), and Qualified Institutional Buyers (QIBs). The exact subscription status will be updated during the IPO period.

Allotment and Listing

• Allotment Finalisation: September 1, 2025

• Refunds Initiation: September 2, 2025

• Shares Credit to Demat Accounts: September 2, 2025

• Listing Date on NSE SME: September 3, 2025

Investors can check their IPO allotment status by visiting the registrar’s website (Bigshare Services) and entering details like application number, PAN, or DP Client ID.

Investment Outlook

Given the strong financial performance, fair valuation, and anchor investor backing, the Current Infraprojects IPO has generated notable interest. The expected 25% listing gain (as per GMP) makes it attractive for short-term investors.

For long-term investors, the company’s consistent growth, efficient capital utilisation, and strong presence in India’s infrastructure sector suggest potential for value creation. However, given the relatively small market cap and SME listing, investors should assess their risk appetite before investing.

Recommendation: Risk-tolerant investors may consider subscribing for potential listing gains. Conservative investors should evaluate the company’s long-term growth trajectory before applying.

The Upcoming IPOs in this week and coming weeks are Abril Paper Tech, Sneha Organics, Sugs Lloyd, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering.

The Current active IPO are Shivashrit Foods, Anondita Medicare, Classic Electrodes (India), ARC Insulation & Insulators, Mangal Electrical Industries, .

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