Shivalaya Construction IPO

About Shivalaya Construction IPO

The 100% book building issue of Shivalaya Construction Ltd comprises a fresh issue of aggregating up to ₹450 crores and an offer for sale aggregating up to 24,861,900 equity shares. The total offer size of the issue aggregates up to [TBA]. The price band is [TBA] per share and the lot size is [TBA]. The IPO opens on [TBA] and closes on [TBA].

Shivalaya Constructions IPO listing date is on [TBA] and the allotment date is on [TBA]. The credit of shares to the Demat account will take place on [TBA], while the initiation of refund will take place on [TBA].

Sedemac Mechatronics IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is TBA. The lot size investment required by sNIIs is TBA, amounting to TBA, and for bNIIs, it is TBA, amounting to TBA.

Shivalaya Construction Ltd is an integrated infrastructure engineering, procurement and construction player with a focus on roads, highways and bridges, having executed 41 projects as of July 31, 2025, across 19 states and union territories in India. It has more than 25 years of experience in the construction, development and maintenance of roads and highways which includes specialised structures such as elevated roads, flyovers, bridges and railway over bridges.

Objectives of Shivalaya Construction IPO

The company proposes to utilise the IPO proceeds for:

• Pre-payment or re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company
  
• General corporate purposes
  

Industry Outlook

India's infrastructure sector is witnessing robust growth, fuelled by significant government investments and strategic initiatives aimed at strengthening the nation's economic framework. For the fiscal year 2025–26, the government allocated a record ₹11.21 trillion, underscoring its dedication to infrastructure development as a cornerstone of economic progress and employment generation.

India’s economic growth is fuelled by a diverse range of sectors, of which infrastructure is a vital sector. The Indian infrastructure contributed around 3.4% to the GDP as of FY24. In recent years, the government has implemented several steps to accelerate infrastructure development, wherein, the key focus areas are transportation, energy, smart cities, water, social infrastructure, and digital infrastructure. There have also been efforts to attract foreign investors in the infrastructure sector through policy reforms. The Government has sought to address the demand for basic infrastructure by increasing the number of projects in both railway and highways sectors.

Company Information

Shivalaya Construction Ltd is an integrated infrastructure engineering, procurement and construction player with a focus on roads, highways and bridges, having executed 41 projects as of July 31, 2025, across 19 states and union territories in India. It has more than 25 years of experience in the construction, development and maintenance of roads and highways which includes specialised structures such as elevated roads, flyovers, bridges and railway over bridges.

As of July 31, 2025 it has constructed over 2,700 lane kms of roads and highways and have executed projects ranging from 14 lane kms to 210 lane kms and have over 1,500 lane kms of ongoing projects.

Strengths of Shivalaya Construction

• An integrated EPC player with a strong pan-India presence in the infrastructure sector
  
• Strong execution capabilities with a proven track record of handling complex and challenging projects
  
• In-house equipment bank enhancing execution capabilities
  
• A strong and diversified order book with long term revenue growth visibility
  
• Experienced promoters supported by a strong management team
  

Risks of Shivalaya Construction

• Adverse changes in government policies may result in contracts being foreclosed or terminated which may have material impact on business
  
• Loss of top customers can have adverse impact on business and result of operation
  
• Business and financial conditions would be materially and adversely affected if it fails to obtain new HAM Projects
  
• Inability to win or acquire new projects could adversely affect results of operation
  
• Majority of order book concentrated in the states of Jharkhand, Kerala, UP, Maharashtra and Meghalaya
  

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Managers

• Registrar: MUFG Intime India Pvt Ltd
  
• Book Running Lead Managers: IIFL Capital Services Ltd, Axis Capital Ltd, JM Financial Ltd
  

Business Model

Shivalaya Construction Ltd executes the projects either on an engineering, procurement and construction (“EPC”) basis or on a hybrid annuity model (“HAM”) basis. Under its EPC business, it provides services which include the construction of highways, bridges, buildings, and other civil infrastructure projects such as water works. Under its HAM business, it focuses on the development of roads and highways, undertaken on a HAM basis.

Shivalaya Construction Growth Trajectory

The revenue from operations of Shivalaya Construction Ltd grew from ₹2731.542 crores in FY 23 to ₹3124.526 crores in FY 25. Strong execution capabilities coupled with a strong and diversified order book has helped the company grow over the years.

Shivalaya Construction Market Position

As of July 31 2025, Shivalaya Construction Ltd has executed 41 projects across 19 states and union territories in India. As of July 31, 2025, the company had 14 ongoing projects (with five EPC Projects and nine HAM Projects), across the states and union territories of Jammu and Kashmir, Haryana, Uttar Pradesh, Maharashtra, Kerala, Karnataka, Jharkhand and Meghalaya.

How to Apply for Shivalaya Construction Ltd IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.