Current Infraprojects Limited, a subsidiary of CIPL Group, has created significant buzz in the market with its IPO subscription status, GMP trends, and allotment updates. The company, formerly known as Current Service Consultants, is a reputed Engineering, Procurement, and Construction (EPC) company headquartered in Jaipur, Rajasthan. Established in 2000, CIPL has steadily grown as a trusted infrastructure player, combining cutting-edge technology, engineering expertise, and sustainable solutions for diverse sectors.

The Current Infraprojects IPO opened for subscription on August 26, 2025, and closed on August 29, 2025. It was a Book Built Issue of ₹ 41.80 Crores, comprising entirely a Fresh Issue of 52.25 Lakh Equity Shares. The IPO price band was fixed between ₹ 76 to ₹ 80 per equity share, with a lot size of 1,600 shares. For retail investors, the minimum application size was two lots (3,200 shares), translating to an investment of ₹ 2,56,000 at the upper band.

The IPO attracted massive investor attention, and as of the final day, it was subscribed 85.47 times, signaling strong demand across Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors. The tentative allotment date is September 01, 2025, with the expected listing on NSE SME scheduled for September 03, 2025.

One of the highlights was the allocation to Anchor Investors, where the company raised ₹ 11.62 Crores by issuing 14,52,800 equity shares at ₹ 80 per share. This was done in consultation with Holani Consultants Private Limited, the Book Running Lead Manager (BRLM) for the issue. Bigshare Services Private Limited acted as the Registrar, while Holani Consultants Private Limited also took on the role of Market Maker.

The Grey Market Premium (GMP) of Current Infraprojects IPO has been reported at ₹ 20, which implies a potential listing price of ₹ 100 against the issue price of ₹ 80. This reflects a 25% premium, though investors are advised that GMP is unofficial, unregulated, and speculative. It depends heavily on demand and supply in the grey market and should be viewed only for educational purposes.

Financially, the company has shown a strong growth trajectory. For the fiscal years ending March 31, 2023, 2024, and 2025, the revenue from operations stood at ₹ 6,105.60 Lakh, ₹ 7,772.86 Lakh, and ₹ 9,132.68 Lakh respectively. The EBITDA grew from ₹ 340.45 Lakh in FY23 to ₹ 847.43 Lakh in FY24, and further to ₹ 1,519.24 Lakh in FY25. Similarly, the Profit After Tax (PAT) rose from ₹ 149.24 Lakh in FY23 to ₹ 508.92 Lakh in FY24, and finally ₹ 945.37 Lakh in FY25. This clearly highlights consistent financial performance and profitability.

On the valuation front, the company reported a pre-issue EPS of ₹ 7.00 and a post-issue EPS of ₹ 4.94. The pre-issue P/E ratio stood at 11.43x, while the post-issue P/E ratio increased to 16.20x. Compared to the industry P/E of 17x, the IPO is considered fairly priced. Other key metrics include a Return on Capital Employed (ROCE) of 26.49%, Return on Equity (ROE) of 49.75%, and Return on Net Worth (RoNW) of 39.40% for FY24. These ratios underline the company’s efficient capital utilization and high profitability margins.

The objectives of the IPO include:

• ₹ 585.00 Lakh for investment in equity of its wholly owned subsidiary Current Infra Dhanbad Solar Private Limited, for setting up an 1800 KW solar plant under the RESCO Model at IIT(ISM), Dhanbad, Jharkhand.

• ₹ 3,000.00 Lakh for funding the working capital requirements of the company.

• Balance funds for general corporate purposes.

The company is led by Mr. Sunil Singh Gangwar, Promoter, 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 field, his leadership and vision have been instrumental in the company’s success.

Considering the robust financial growth, healthy margins, reasonable valuations, and a GMP premium of 25%, experts suggest that risk-taking investors may apply to the IPO for potential listing gains. However, conservative investors should evaluate carefully, as the issue size is small, volatility may be high, and valuations leave limited margin for safety.

In conclusion, the Current Infraprojects IPO has emerged as one of the most subscribed issues in recent months, with subscription status hitting 85.47 times, strong backing from anchor investors, and a healthy GMP trend. With a tentative listing on NSE SME by September 03, 2025, the IPO has set high expectations among investors and market watchers alike.

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

The Current active IPO are Oval Projects, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering, .

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