Current Infraprojects Limited IPO has opened with an impressive response from investors, signaling strong market confidence in the company’s growth story and financial performance. CIPL Group, formerly known as Current Service Consultants, is the parent company and a well-established name in the Engineering, Procurement, and Construction (EPC) sector. Headquartered in Jaipur, Rajasthan, the company has been contributing significantly to India’s infrastructure development since its establishment in 2000.

The IPO of Current Infraprojects Limited is a Book Built Issue amounting to ₹41.80 Crores, consisting entirely of a Fresh Issue of 52.25 Lakh Equity Shares. The subscription window for this public offering opened on August 26, 2025 and will close on August 29, 2025. The basis of allotment is expected to be finalized on September 1, 2025, and the company’s shares are likely to be listed on the NSE SME platform on or around September 3, 2025.

The IPO price band has been set between ₹76 and ₹80 per equity share, with the market capitalisation at the upper price band expected to be around ₹153.18 Crores. The lot size for the IPO has been fixed at 1,600 shares, requiring a minimum investment of 2 lots (3,200 shares), amounting to ₹2,56,000 for retail investors. Holani Consultants Private Limited is the Book Running Lead Manager (BRLM) for the IPO, while Bigshare Services Private Limited is the registrar. The market maker role is also being handled by Holani Consultants Private Limited.

Grey Market Premium (GMP) and Listing Gains

The Grey Market Premium (GMP) of Current Infraprojects IPO has been reported at around ₹20, indicating potential listing gains of about 25% over the issue price. However, investors should note that GMP is an unofficial market indicator, highly dependent on demand and supply in an unorganized setup. It should not be taken as an absolute guarantee of post-listing performance but rather as a reference for possible investor sentiment.

Subscription Status – Strong Response on Day 1

The IPO has witnessed a phenomenal subscription status, with reports showing that the issue was subscribed 54.25 times by 12:30 PM on August 26, 2025, the very first day of its subscription period. Such a massive subscription highlights the robust interest from institutional investors, non-institutional investors, and retail participants. This response also reflects the confidence in the company’s financials, sector growth, and future projects.

Anchor Investor Participation

Ahead of the IPO opening, Current Infraprojects raised ₹11.62 Crores from Anchor Investors by allotting 14,52,800 shares at a price of ₹80 per share in consultation with the BRLM. This strong anchor investor participation further adds credibility and confidence in the IPO. Anchor investors are allotted shares from the Qualified Institutional Buyers (QIBs) portion of the issue, strengthening the institutional base of the offering.

Financial Performance of Current Infraprojects

The financial results of Current Infraprojects have shown steady growth over the past three fiscal years.

• Revenue from operations stood at ₹9,132.68 Lakh in FY25, compared to ₹7,772.86 Lakh in FY24 and ₹6,105.60 Lakh in FY23.

• EBITDA for the same periods was ₹1,519.24 Lakh in FY25, ₹847.43 Lakh in FY24, and ₹340.45 Lakh in FY23.

• Profit After Tax (PAT) has grown consistently from ₹149.24 Lakh in FY23 to ₹508.92 Lakh in FY24, and further to ₹945.37 Lakh in FY25.

The company’s earnings per share (EPS) stood at ₹7.00 pre-issue and is projected to be ₹4.94 post-issue for FY24. The pre-issue P/E ratio of 11.43x and post-issue P/E ratio of 16.20x are fairly aligned with the industry average P/E of 17x, suggesting that the IPO is reasonably priced. The company’s Return on Capital Employed (ROCE) for FY24 is 26.49%, Return on Equity (ROE) is 49.75%, and Return on Net Worth (RoNW) is 39.40%, indicating efficient use of capital and high returns for shareholders.

IPO Objectives

The net proceeds from the IPO are proposed to be used for the following objectives:

1. Investment of ₹585.00 Lakh in equity of its wholly owned subsidiary Current Infra Dhanbad Solar Private Limited, to set up a 1,800 KW solar plant under the RESCO Model at the Indian Institute of Technology (ISM), Dhanbad.

2. Funding working capital requirements of around ₹3,000.00 Lakh, enabling smoother business operations and project execution.

3. General corporate purposes, ensuring long-term sustainability and strategic growth.

Allotment Process – How to Check Status

Investors can check the Current Infraprojects IPO allotment status once it is finalized on September 1, 2025. The allotment can be viewed on the registrar’s website by entering the application number, PAN, or DP Client ID. This step-by-step process ensures transparency and helps investors confirm their share allocation quickly.

IPO Review and Recommendation

The IPO of Current Infraprojects is backed by a solid financial track record, a growing order book, and strategic projects in renewable energy. The strong subscription numbers, positive Grey Market Premium trends, and reasonable valuations make this IPO attractive, especially for investors seeking listing gains. However, considering the volatility of SME stocks, this IPO is most suitable for risk-tolerant investors.

In conclusion, Current Infraprojects Limited IPO presents a promising investment opportunity in India’s EPC and infrastructure development sector. With its strong fundamentals, expansion into renewable energy, robust anchor investor support, and overwhelming Day 1 subscription, the IPO has positioned itself as one of the most talked-about SME IPOs of 2025. The upcoming listing on NSE SME is being closely watched by market participants, and if the subscription and GMP trends continue, it could reward investors with healthy listing gains.

The Upcoming IPOs in this week and coming weeks are Amanta Healthcare, Rachit Paints, 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.

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