Swastika Infra To Launch ₹161-Crore IPO At ₹175–185 Per Share
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Swastika Infra will launch its ₹161-crore IPO on 23 September at ₹175–185 per share, with proceeds mainly funding working capital. Read more.
Rajasthan-based engineering, procurement and construction (EPC) company Swastika Infra will launch its ₹161-crore initial public offering (IPO) on 23 September. The company has fixed the price band at ₹175–185 per share and is seeking a valuation of ₹631 crore at the upper end of the band.
The anchor book will open a day before, on 22 September, and the IPO closes on 25 September. Share allotment is expected to be finalised by 28 September, with the company’s shares scheduled to start trading on the stock exchanges on 30 September.
About Swastika Infra IPO
Swastika Infra seeks to raise ₹128.5 crore through a fresh issue. Existing shareholders, including promoters, will sell 17.5 lakh shares through an offer-for-sale (OFS), valued at ₹32.4 crore at the upper price band. Srujan Alpha Capital Advisors and PhillipCapital (India) Pvt Ltd are the merchant bankers managing the IPO. MUFG Intime India Pvt Ltd is the issue registrar.
The company has reduced the size of the IPO from the proposal outlined in its draft papers filed with the Securities and Exchange Board of India (SEBI) in March 2025. The earlier proposal for the Swastika Infra IPO comprised a fresh issue of ₹200 crore and an OFS of 19.2 lakh shares. SEBI approved the draft papers in August 2025.
Use Of IPO Proceeds
Swastika Infra will use most of the net proceeds from the fresh issue to meet working capital requirements. The remaining funds will go towards general corporate purposes. Proceeds from the OFS will accrue to the selling shareholders.
Investors can bid for a minimum of 81 shares and in multiples of 81 thereafter. At the upper price band, the minimum application value stands at ₹14,985, while the maximum investment for retail investors is ₹1,94,805.
The issue has reserved 50% of shares for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
Strong Order Book
Swastika Infra had 18 ongoing EPC power projects with an order book of ₹2,036.65 crore as of July 2026. The uncompleted portion of these projects stood at ₹916.55 crore. The company executes engineering, procurement and construction projects related to power distribution infrastructure.
Its financial performance improved in the year ended March 2026. Profit rose 51% year-on-year to ₹41.4 crore, while total income increased 43.4% to ₹505.6 crore. Revenue from EPC projects grew 43.9% to ₹487.8 crore during the year.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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