The Srinibas Pradhan Constructions Limited IPO (SPCL IPO) opened for subscription on March 6, 2026, and will close on March 10, 2026. The public issue provides investors an opportunity to invest in an infrastructure construction company engaged in civil engineering projects across India.

The company plans to list its shares on the NSE SME platform. According to the tentative schedule, the IPO allotment is expected to be finalised on March 11, 2026, while the shares are likely to be listed on the stock exchange on March 13, 2026.

The price band for the IPO has been fixed between ₹91 and ₹98 per equity share, and at the upper price band the company is expected to have a market capitalisation of around ₹77.04 crore.

About Srinibas Pradhan Constructions Limited

Srinibas Pradhan Constructions Limited (SPCL) is an India-based infrastructure and construction company primarily operating in the domestic market.

The company undertakes civil construction works related to infrastructure development, including:

• Road construction

• Bridge development

• Commercial and residential buildings

• Industrial structures

• Other infrastructure projects

SPCL mainly executes projects for government departments, public sector undertakings (PSUs), and corporate clients.

The company’s business focuses on project execution and infrastructure development, which plays an important role in supporting economic growth and connectivity.

Business Model and Revenue Generation

The company earns revenue mainly through construction contracts awarded by government agencies, PSUs, and corporate organisations.

These projects are typically awarded through tendering and competitive bidding processes.

Once a contract is secured, the company is responsible for executing the project within the specified timelines, cost estimates, and quality standards.

Revenue is generated based on project milestones, work completion stages, and contractual payment terms.

Project Execution Capabilities

Srinibas Pradhan Constructions manages its operations using in-house project management capabilities.

The company supports project execution through:

• Internal engineering teams

• Construction equipment and machinery

• Operational teams deployed across project locations

This approach allows the company to manage multiple infrastructure projects simultaneously across various sites in India.

Infrastructure projects often involve large-scale coordination of labour, materials, and machinery, making project management expertise a key factor for success.

Srinibas Pradhan Constructions IPO Size and Structure

The Srinibas Pradhan Constructions IPO is a Book Built Issue with a total issue size of ₹20.32 crore.

The issue includes both fresh issue shares and an Offer for Sale (OFS).

IPO Structure

• Total Issue Size: ₹20.32 crore

• Fresh Issue: 0.17 crore shares worth ₹16.79 crore

• Offer for Sale: 0.04 crore shares worth ₹3.53 crore

The fresh issue proceeds will go to the company and may be used for business expansion, operational needs, and general corporate purposes.

The Offer for Sale component allows existing shareholders to partially dilute their stake by selling shares to the public.

Srinibas Pradhan Constructions IPO Important Dates

Investors planning to participate in the IPO should take note of the following key dates:

• IPO Opening Date: March 6, 2026

• IPO Closing Date: March 10, 2026

• Allotment Date (Tentative): March 11, 2026

• Listing Date (Tentative): March 13, 2026

• Listing Exchange: NSE SME

These dates are tentative and may change depending on regulatory or operational factors.

Price Band and Market Capitalisation

The price band for the IPO is set between ₹91 and ₹98 per share.

At the upper price band of ₹98, the company’s estimated market capitalisation will be around ₹77.04 crore.

Market capitalisation represents the total value of a company’s outstanding shares after listing, providing investors with an idea of the company’s market size.

Srinibas Pradhan Constructions IPO Lot Size

The minimum lot size for the IPO is 1,200 shares.

Applications must be made in multiples of the lot size.

Minimum Investment Requirement

Retail Investors

• Minimum application: 2 lots (2,400 shares)

• Minimum investment: ₹2,35,200

High Net-Worth Individuals (HNIs)

• Minimum application: 3 lots (3,600 shares)

• Minimum investment: ₹3,52,800

Since this is an SME IPO, the minimum investment requirement is higher compared to most mainboard IPOs.

IPO Lead Manager, Registrar and Market Maker

The IPO process is managed by experienced intermediaries.

• Book Running Lead Manager: Novus Capital Advisors Private Limited

• Registrar to the Issue: Maashitla Securities Private Limited

• Market Maker: Rikhav Securities Limited

The lead manager oversees the entire IPO process, including pricing and marketing the issue, while the registrar manages share allotment and investor records.

The market maker helps maintain liquidity in the shares after listing on the SME exchange.

Srinibas Pradhan Constructions IPO Grey Market Premium (GMP)

According to the latest available information, the Grey Market Premium (GMP) for the Srinibas Pradhan Constructions IPO is currently around ₹0.

This indicates that no significant premium is being observed in the unofficial grey market at present.

Important Note on Grey Market Premium

Investors should note that:

• Grey market trading is unofficial and unregulated

• GMP reflects informal demand and supply conditions

• It does not guarantee listing performance

Therefore, GMP should be considered only for informational and educational purposes.

Infrastructure Sector Outlook

The infrastructure sector in India continues to play a critical role in economic growth.

Government spending on roads, bridges, urban infrastructure, and industrial development has increased in recent years.

Construction companies engaged in civil infrastructure development may benefit from these investments and long-term infrastructure programs.

However, the sector also faces challenges such as project delays, cost escalations, and dependency on government spending.

Factors Investors Should Consider

Before applying for the IPO, investors may consider several important factors.

Infrastructure Demand

India’s ongoing infrastructure development initiatives could create long-term opportunities for construction companies.

Execution Risks

Infrastructure projects involve large investments and long timelines, which can expose companies to risks such as delays or cost overruns.

Dependence on Government Contracts

Since many projects come from government departments and PSUs, the company’s performance may depend on the availability of public infrastructure projects.

Investors should carefully evaluate the company’s financial performance, project pipeline, and risk factors before investing.

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