Suntech Infra Solutions Limited, a company offering civil construction services and construction equipment rental, closed its IPO on June 27, 2025, with an impressive 32.33x subscription. The IPO received robust interest from retail, high-net-worth, and institutional investors alike.

The IPO size was Rs 54.58 crore, consisting of a fresh issue of Rs 44.38 crore and an offer for sale worth Rs 10.20 crore. The share price band was fixed between Rs 81 to Rs 86 per equity share, and the shares will be listed on the NSE SME platform with the listing expected on July 2, 2025.

About the Company

Suntech Infra Solutions is a growing enterprise in India’s infrastructure sector, delivering civil foundation and structural works on both direct contract and sub-contracting basis. It also offers construction equipment rental services, supporting projects across industries such as power, oil & gas, steel, cement, refineries, and renewable energy.

Its wide industry reach and technical expertise have made it a reliable partner for both public and private sector undertakings.

IPO Details at a Glance

• IPO Opened: June 25, 2025

• IPO Closed: June 27, 2025

• Allotment Date: June 30, 2025

• Listing Date (Tentative): July 2, 2025

• Price Band: Rs 81 – Rs 86

• Lot Size: 1,600 shares

• Retail Investment: Rs 1,37,600 minimum

• HNI Investment: Rs 2,75,200 minimum

• Total IPO Size: Rs 54.58 crore

• Fresh Issue: Rs 44.38 crore

• Offer for Sale (OFS): Rs 10.20 crore

• Market Capitalisation at Upper Band: Rs 176.72 crore

Book Running Lead Manager: GYR Capital Advisors Pvt Ltd
Registrar: MAS Services Ltd
Market Maker: Giriraj Stock Broking Pvt Ltd

Live Subscription Update

As of 11:00 AM on June 27, 2025, the IPO was subscribed 32.33 times, indicating very strong investor demand. It attracted interest across categories:

• Retail Individual Investors (RIIs)

• High Net-Worth Individuals (HNIs)

• Qualified Institutional Buyers (QIBs)

This level of demand reflects market confidence in the company’s performance and future prospects.

Grey Market Premium (GMP) & Expected Listing Gain

As per market sources, Suntech Infra Solutions IPO GMP today stands at Rs 14, which implies an expected listing price of Rs 100 per share (approx. 16.31% premium over the upper price band).

Note: GMP is an informal indicator and should not be solely relied upon for investment decisions.

Anchor Investor Participation

Before the IPO opened for public subscription, Suntech Infra Solutions raised Rs 12.63 crore from anchor investors by allotting 14,68,800 shares at Rs 86 apiece. This pre-subscription boost often signals institutional confidence in the company.

Financial Performance

Suntech Infra Solutions has reported steady growth in its top-line and bottom-line metrics over recent years.

Revenue from Operations:

• FY22: Rs 7,231.76 lakh

• FY23: Rs 8,619.37 lakh

• FY24: Rs 9,625.45 lakh

• Dec 31, 2024 (9 months): Rs 9,124.77 lakh

EBITDA:

• FY22: Rs 1,358.95 lakh

• FY23: Rs 2,058.94 lakh

• FY24: Rs 2,747.31 lakh

• Dec 31, 2024: Rs 2,996.07 lakh

Profit After Tax (PAT):

• FY22: Rs 302.45 lakh

• FY23: Rs 575.60 lakh

• FY24: Rs 924.52 lakh

• Dec 31, 2024: Rs 1,027.73 lakh

The EBITDA and PAT figures show a sharp rise, demonstrating strong operating leverage and profitability improvements.

Valuation Metrics

Key financial indicators point to reasonable valuation for the IPO:

• Pre-Issue EPS: Rs 6.21

• Post-Issue EPS: Rs 4.50

• Annualised EPS: Rs 6.67

• Pre-Issue P/E Ratio: 13.85x

• Post-Issue P/E Ratio: 19.12x

• Annualised P/E Ratio: 12.90x

• Industry P/E Benchmark: 43x

• ROCE (FY24): 17.28%

• ROE (FY24): 28.50%

• RoNW: 23.97%

Compared to industry peers, the IPO appears to be fairly to attractively priced.

Use of IPO Proceeds

Suntech Infra Solutions will utilise the funds raised through the fresh issue for the following purposes:

1. Rs 1,221 lakh for working capital requirements

2. Rs 1,251 lakh for capital expenditure (specifically, purchase of construction equipment)

3. General corporate purposes

This capital infusion will help the company enhance its equipment base and improve project delivery efficiency.

How to Check IPO Allotment Status

Investors can check the Suntech Infra Solutions IPO allotment status on or after June 30, 2025, by visiting the MAS Services IPO allotment portal.

Steps to check allotment:

• Visit MAS Services official allotment page

• Select Suntech Infra Solutions IPO from the dropdown

• Enter your PAN, Application Number, or DP Client ID

• Submit the details and check your status

Final Verdict: Should You Invest?

The IPO has received overwhelming demand, offers strong financials, and is backed by credible anchor investors. With a GMP of Rs 14 and 16.31% expected listing gain, it may present good short-term opportunities.

✅ Recommendation: Risk-taking investors can consider applying for listing gains, while conservative investors may wait for post-listing performance to reassess.

The Upcoming IPOs in this week and coming weeks are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions.

The Current active IPO are Neetu Yoshi, Adcounty Media India, Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences, Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials.

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