Srinibas Pradhan Constructions IPO Opens With Price Band ₹91–₹98

Srinibas Pradhan Constructions Limited (SPCL), an infrastructure and civil construction company operating in India, has launched its Initial Public Offering (IPO) on March 6, 2026.

The IPO will remain open for subscription until March 10, 2026, giving investors a five-day window to apply.

The company plans to raise ₹20.32 crore through the IPO, which includes a fresh issue of shares and an offer for sale (OFS).

Following the completion of the IPO process, the shares are expected to list on the NSE SME platform on March 13, 2026, subject to regulatory approvals.

About Srinibas Pradhan Constructions Limited

Srinibas Pradhan Constructions Limited is an infrastructure and construction company focused on civil engineering projects across India.

The company primarily undertakes projects related to:

• Road construction

• Bridge development

• Building construction

• Industrial structures

• Other infrastructure projects

These projects are usually awarded by government departments, public sector undertakings (PSUs), and corporate clients.

The company generates revenue through the execution of construction contracts obtained through competitive bidding and project tenders.

Project Execution Capabilities

Srinibas Pradhan Constructions executes its infrastructure projects through in-house project management teams and engineering capabilities.

The company’s operations are supported by:

• Engineering and project management teams

• Construction equipment

• Site execution staff

By deploying its teams and equipment across project sites, the company aims to manage construction timelines and ensure quality execution of infrastructure projects.

Such capabilities are important in the construction industry, where projects require strict adherence to technical specifications and deadlines.

Srinibas Pradhan Constructions IPO Structure

The Srinibas Pradhan Constructions IPO is being launched as a Book Built Issue, allowing investors to bid within a defined price band.

Key details of the IPO include:

• Total Issue Size: ₹20.32 crore

• Fresh Issue: ₹16.79 crore

• Offer for Sale (OFS): ₹3.53 crore

• Total Shares Offered: 0.21 crore shares

The funds raised through the fresh issue will go to the company for its business requirements, while the proceeds from the offer for sale will go to the existing shareholders selling their shares.

IPO Price Band and Valuation

The price band for the Srinibas Pradhan Constructions IPO has been fixed between ₹91 and ₹98 per share.

At the upper price band of ₹98 per share, the company’s post-listing market capitalisation is expected to be around ₹77.04 crore.

Investors can place bids within this price range during the IPO subscription period.

IPO Timeline

The important dates related to the IPO are as follows:

• IPO Opening Date: March 6, 2026

• IPO Closing Date: March 10, 2026

• Allotment Finalisation: March 11, 2026 (Expected)

• Listing Date: March 13, 2026 (Tentative)

• Stock Exchange: NSE SME

The final schedule may vary slightly depending on regulatory procedures.

Lot Size and Investment Requirements

The IPO has been structured with a defined lot size requirement for investors.

• Lot Size: 1,200 shares

Retail investors are required to apply for a minimum of two lots, which equals 2,400 shares.

At the upper price band of ₹98 per share, the minimum investment required for retail investors will be:

• ₹2,35,200

For High-Net-Worth Individuals (HNIs):

• Minimum Application: 3 lots

• Total Shares: 3,600

• Minimum Investment: ₹3,52,800

Such investment structures are common for SME IPOs listed on the NSE SME platform.

IPO Management and Registrar

The IPO process is being managed by several financial 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 is responsible for handling the IPO process, including marketing the issue and coordinating with regulatory authorities.

The registrar manages investor applications, share allotment, and refund processing, while the market maker helps maintain liquidity in the stock after listing.

Srinibas Pradhan Constructions IPO Grey Market Premium

The Grey Market Premium (GMP) for the Srinibas Pradhan Constructions IPO is currently reported at around ₹0.

The grey market refers to an unofficial market where IPO shares are traded before the stock officially lists on the exchange.

However, investors should note that:

• Grey market trading is unregulated

• No official price discovery occurs

• GMP is purely based on demand and supply

Because of this, GMP is usually considered only an informal indicator rather than a reliable predictor of listing performance.

Infrastructure Construction Sector in India

Companies like Srinibas Pradhan Constructions operate in the infrastructure construction sector, which plays a critical role in India’s economic development.

The government continues to invest heavily in projects such as:

• National highways and roads

• Urban infrastructure

• Industrial projects

• Public buildings

Construction companies contribute to executing these projects and expanding infrastructure across the country.

As infrastructure spending increases, companies in this sector may see growing opportunities for project execution and business expansion.

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