Current Infraprojects Limited, part of the CIPL Group, is launching its IPO (Initial Public Offering) to raise ₹41.80 Crores. The issue, opening on 26 August 2025 and closing on 29 August 2025, consists entirely of a Fresh Issue of 52.25 lakh shares. The company, headquartered in Jaipur, Rajasthan, has built a strong reputation in the Engineering, Procurement, and Construction (EPC) sector since its establishment in 2000.

IPO Details and Key Dates

The price band of the Current Infraprojects IPO is set between ₹76 and ₹80 per equity share. At the upper band of ₹80, the company’s estimated market capitalization will be ₹153.18 Crores. The lot size for the IPO is 1,600 shares, and individual retail investors must apply for a minimum of 2 lots (3,200 shares), requiring an investment of ₹2,56,000.

The IPO subscription window runs from 26 August 2025 to 29 August 2025. The basis of allotment is expected to be finalized on 1 September 2025, with shares likely to be listed on the NSE SME platform on 3 September 2025.

Book Running Lead Manager and Registrar

• Book Running Lead Manager: Holani Consultants Private Limited

• Registrar: Bigshare Services Private Limited

• Market Maker: Holani Consultants Private Limited

Anchor Investors Participation

Ahead of the IPO opening, Current Infraprojects raised ₹11.62 Crores from Anchor Investors at ₹80 per share. The company allocated 14,52,800 equity shares to anchor investors, reinforcing confidence in the offering.

Grey Market Premium (GMP)

As of 20 August 2025, the Grey Market Premium (GMP) for Current Infraprojects IPO stood at ₹20, indicating an expected listing price of ₹100 (a 25% premium over the upper price band). It is important to note that GMP is unofficial and unregulated, reflecting only demand and supply in the informal market. Investors should treat GMP trends as informational only and not as an assured indicator of listing performance.

Objectives of the IPO

The net proceeds from the IPO will be utilized for the following:

• ₹585 Lakh for investment in wholly owned subsidiary Current Infra Dhanbad Solar Pvt. Ltd., for setting up a 1,800 KW solar plant under the RESCO model at IIT (ISM), Dhanbad, Jharkhand.

• ₹3,000 Lakh for working capital requirements of the company.

• Remaining funds for general corporate purposes.

Company Background and Strengths

CIPL Group, earlier known as Current Service Consultants, has over two decades of expertise in infrastructure development. Under the leadership of Promoter, Chairman & Managing Director Mr. Sunil Singh Gangwar, who holds a B.E. (Electrical) from the University of Rajasthan and has 32 years of industry experience, the company has expanded across mechanical, electrical, and solar infrastructure projects.

The group’s focus on sustainability, engineering excellence, and technology integration has enabled it to establish a strong position in the EPC industry, delivering projects across diverse sectors.

Financial Performance

The company has demonstrated steady growth in revenues and profitability over the last three fiscal years:

• Revenue from Operations:

  • FY2025: ₹9,132.68 Lakh

  • FY2024: ₹7,772.86 Lakh

  • FY2023: ₹6,105.60 Lakh

• EBITDA:

  • FY2025: ₹1,519.24 Lakh

  • FY2024: ₹847.43 Lakh

  • FY2023: ₹340.45 Lakh

• Profit After Tax (PAT):

  • FY2025: ₹945.37 Lakh

  • FY2024: ₹508.92 Lakh

  • FY2023: ₹149.24 Lakh

This performance highlights consistent revenue growth, expanding EBITDA margins, and a sharp increase in net profitability.

Valuation Metrics

• Pre-Issue EPS (FY24): ₹7.00

• Post-Issue EPS (FY24): ₹4.94

• Pre-Issue P/E Ratio: 11.43x

• Post-Issue P/E Ratio: 16.20x

• Industry Average P/E Ratio: 17x

• ROCE (FY24): 26.49%

• ROE (FY24): 49.75%

• RoNW (FY24): 39.40%

These metrics suggest that the IPO is reasonably priced compared to peers, with healthy returns on equity and capital employed.

Expert Review and Recommendation

Given the company’s strong financial track record, sectoral growth prospects, and valuation near industry averages, the IPO may offer listing gains as reflected by the current GMP. However, considering the relatively high investment requirement for retail investors (minimum ₹2.56 Lakhs), it is more suitable for risk-taking investors aiming for short-term listing benefits or long-term exposure to the infrastructure and renewable energy sector.

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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