Sathlokhar Synergys E&C Global
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Jul 2024 – 01 Aug 2024
- Listing date
- 06 Aug 2024
- Face value
- ₹10 per share
- Issue price
- ₹140 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹92.93 Cr
- Market cap at offer price
- ₹338 Cr
- Promoter holding
- 86.50% → 62.71% pre-issue → post-issue
- ISIN
- INE0RFP01011
- Registrar
- Purva Sharegistry (India) Pvt.Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- Plot No.5171, 9th Street, Ram Nagar North Extension, Madipakkam, Saidapet, Tamil Nadu
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 18,10,000 | — | — |
| Market maker | 6,00,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹140
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 8,000 | ₹11,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 14.98 | 10.86 |
| P/E (×) | 9.35 | 12.89 |
| Price to book (×) | 1.96 | — |
| Market cap | — | ₹338 Cr |
Key performance indicators
- Return on net worth
- 64.68%
- ROCE
- 87.33%
- PAT margin
- 10.61%
- NAV per share
- ₹23.16
- Price to book
- 1.96
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sathlokhar Synergys E&C Global
Incorporated in Chennai on September 13, 2013 as Lohats Ventures Private Limited, renamed Sathlokhar Synergys Private Limited in 2014, Sathlokhar Synergys E&C Global Private Limited in January 2024, and converted to a public limited company (Sathlokhar Synergys E&C Global Limited) in February 2024, the company is an integrated engineering, procurement and construction (EPC) 'design and build' and infra turnkey contractor. It constructs buildings and infrastructure facilities for industrial, warehousing, commercial, institutional, pharmaceutical, hospital, hotel, resort and villa projects, installs Mechanical, Electrical and Plumbing (MEP) networks through in-house MEP designers and engineers, and is an authorised channel partner of TATA Power Solar Systems Ltd for installation, sales, commissioning and maintenance of solar power products. Work is won through competitive bidding/tendering — including government tenders (its first government contract was from Tidel Park Ltd) — and through direct client relationships, with services spanning detailed designing, planning, procurement, engineering, site execution, project management and completion up to commissioning. Operations are concentrated in Tamil Nadu and Karnataka (about 23% and 64% of FY2024 revenue respectively), with projects also executed in Uttar Pradesh, West Bengal and Pondicherry. The company has completed 64 projects worth ₹333.94 crores, has 14 ongoing projects worth ₹449.31 crores across three states, and carried an order book of ₹78,326 lakhs since incorporation till March 31, 2024. In FY2024 it reported revenue from operations of ₹24,697.37 lakhs and restated profit of ₹2,621.43 lakhs.
Company Analysis
from RHPSathlokhar Synergys E&C Global Limited is an integrated engineering, procurement and construction (EPC) design-and-build and infra turnkey contracting company that builds industrial, warehousing, commercial, institutional, pharmaceutical, hospital, hotel and solar projects across India.
Incorporated in Chennai on September 13, 2013 as Lohats Ventures Private Limited, renamed Sathlokhar Synergys Private Limited in 2014, Sathlokhar Synergys E&C Global Private Limited in January 2024, and converted to a public limited company (Sathlokhar Synergys E&C Global Limited) in February 2024, the company is an integrated engineering, procurement and construction (EPC) 'design and build' and infra turnkey contractor. It constructs buildings and infrastructure facilities for industrial, warehousing, commercial, institutional, pharmaceutical, hospital, hotel, resort and villa projects, installs Mechanical, Electrical and Plumbing (MEP) networks through in-house MEP designers and engineers, and is an authorised channel partner of TATA Power Solar Systems Ltd for installation, sales, commissioning and maintenance of solar power products. Work is won through competitive bidding/tendering — including government tenders (its first government contract was from Tidel Park Ltd) — and through direct client relationships, with services spanning detailed designing, planning, procurement, engineering, site execution, project management and completion up to commissioning. Operations are concentrated in Tamil Nadu and Karnataka (about 23% and 64% of FY2024 revenue respectively), with projects also executed in Uttar Pradesh, West Bengal and Pondicherry. The company has completed 64 projects worth ₹333.94 crores, has 14 ongoing projects worth ₹449.31 crores across three states, and carried an order book of ₹78,326 lakhs since incorporation till March 31, 2024. In FY2024 it reported revenue from operations of ₹24,697.37 lakhs and restated profit of ₹2,621.43 lakhs.
Objects of the Issue
- Funding working capital requirements Upto ₹ 7300.00 lakhs p.81
- General Corporate Purposes p.83
Issue Structure
- Total Issue
- Upto ₹ [●] Lakhs
- Fresh Issue
- Upto 66,38,000 Equity Shares of face value of ₹ 10 each, aggregating up to ₹ [●] Lakhs
- Offer for Sale
- NIL (entire issue constitutes fresh issue)
- Face Value
- ₹ 10 each
Business Model
Earns revenue from the sale of construction services under EPC/turnkey contracts secured through competitive bidding and tendering processes (including government tenders) and through direct client relationships developed by the promoters. Services span the value chain — detailed designing, planning, procurement of materials, engineering, site execution with overall project management up to commissioning — plus MEP network installation and solar installation/sales/commissioning/maintenance as authorised channel partner of TATA Power Solar Systems Ltd. Revenue is recorded for project stages completed and certified by the client.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. G Thiyagu | Promoter | 0.36% | — |
| Ms. Sangeethaa Thiyagu | Promoter | 80.63% | — |
| Mr. Dinesh Sankaran | Promoter | NIL (0 equity shares) | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.