Suntech Infra Solutions
Book Building issueSMENSE₹44.39 Cr issue
+26.86%
Listing gain over issue price
Issue size
₹44.39 Cr
1 lot at cut-off
₹1,37,600
Lot size
1,600shares
Open
25 Jun 2025
Close
27 Jun 2025
Allotment
30 Jun 2025
Listing
02 Jul 2025
Listing performance
Issue price
₹86
Listed at
₹109.10
Listing-day close
₹103.80
Latest price
₹36.45
Close on 23 Oct 2026
Listing gain
+26.86%
Return since issue
-57.62%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Jun 2025 – 27 Jun 2025
- Listing date
- 02 Jul 2025
- Face value
- ₹10 per share
- Issue price
- ₹86 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹44.39 Cr
- Market cap at offer price
- ₹167 Cr
- Promoter holding
- 94.17% → 68.71% pre-issue → post-issue
- ISIN
- INE0SGZ01016
- Registrar
- MAS Services Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- Unit No.604-605-606, 6th Floor, NDM-2, Plot No.D-1, 2, 3, Netaji Subhash Place, Pitampura, Anandvas Shakurpura, New Delhi
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 | 14,68,800 | — | — |
| Market maker | 2,59,200 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹86
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,37,600 |
| S-HNI (min) | 2 | 3,200 | ₹2,75,200 |
| S-HNI (max) | 7 | 11,200 | ₹9,63,200 |
| B-HNI (min) | 8 | 12,800 | ₹11,00,800 |
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.
Shares allocated
14,68,800
Anchor portion
₹12.63 Cr
at ₹86 per share
Valuation and performance
Valuation at offer price
₹86 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.01 | 7.08 |
| P/E (×) | 14.31 | 12.15 |
| Price to book (×) | 3.43 | — |
| Market cap | — | ₹167 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 23.97%
- ROCE
- 17.23%
- Debt / equity
- 1.46
- PAT margin
- 9.67%
- EBITDA margin
- 28.28%
- NAV per share
- ₹25.06
- Price to book
- 3.43
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Suntech Infra Solutions
Suntech Infra Solutions Limited, formerly a private company incorporated in April 2009, provides civil construction services and rents construction equipment. The company executes foundation works (piling) and other civil construction projects for high-rise buildings and municipal constructions. It recently began supplying materials as part of its services. The company generates revenue from both service delivery and equipment rental. With a history of consistent financial performance, the company is expanding its operations through acquisition of new construction equipment (rigs and cranes) and scaling its workforce and project portfolio.
Company Analysis
from RHPSuntech Infra Solutions Limited is a civil construction and construction equipment rental company operating in India's infrastructure and construction sectors.
Suntech Infra Solutions Limited, formerly a private company incorporated in April 2009, provides civil construction services and rents construction equipment. The company executes foundation works (piling) and other civil construction projects for high-rise buildings and municipal constructions. It recently began supplying materials as part of its services. The company generates revenue from both service delivery and equipment rental. With a history of consistent financial performance, the company is expanding its operations through acquisition of new construction equipment (rigs and cranes) and scaling its workforce and project portfolio.
Objects of the Issue
- Funding working capital requirements of our company ₹1,221.00 lakhs p.83
- Funding of capital expenditure requirements of our company towards purchase of Construction Equipments for civil construction business ₹1,251.00 lakhs p.83
- General corporate purposes p.83
- Fresh issue of equity shares for general corporate purposes and working capital requirements p.279
Issue Structure
- Total Issue
- Upto 51,61,600 Equity Shares aggregating up to ₹[●] lakhs
- Fresh Issue
- Upto 39,74,400 Equity Shares of face value of Rs.10/- each fully paid-up for cash at price of Rs. [●]/- per Equity Share aggregating to Rs. [●] Lakh
- Offer for Sale
- Upto 11,87,200 Equity Shares of face value of Rs.10/- each fully paid-up for cash at price of Rs. [●]/- per Equity Share aggregating to Rs. [●] Lakh
- Price Band
- [●] per Equity share
- Face Value
- ₹10/- each fully paid up
Business Model
The company earns revenue from civil construction contract execution and construction equipment rental services. It undertakes projects on a contract basis with milestone-based payments, with varying credit terms depending on client agreements. The company also generates income from renting construction equipment (rigs and cranes) to project sites.
Business Segments
Execution of foundation works (piling), high-rise building construction, and municipal construction projects
Renting of construction equipment including rigs and cranes for project sites
Provides piling of different types including Bored or driven cast-in-situ pile, Precast spun pile, Sheet pile, Micro piling, Compaction pile (Stone/Sand Column). Provides comprehensive Turnkey Pile Foundation Contracts offering seamless solution from inception to completion by taking full responsibility for procurement and construction phases.
Undertakes design, construction and management of bridge projects, ensuring structural integrity, safety and longevity. For construction of industrial buildings, understands specific requirements of various industries from manufacturing to warehousing, creating customized solutions that meet operational needs.
Provides complete range of earth moving machines and construction equipment on rent for all types of infrastructure and construction work like excavation, piling, road construction and prestressed rock anchoring. Equipment includes international brands like BAUER Engineering, MAIT India, SANY Heavy industry, XCMG. Operates on time-based pricing model where customers pay based on equipment usage or tenure duration.
Revenues from Machine hiring charges recognized upon rendering of services
Engineering, procurement and construction contracts accounted for as a single performance obligation involving complex integration of goods and services
Provides engineering, procurement and construction services including civil foundation work, civil structural work, piling work, and associated job work
Provides construction machinery and equipment on rental basis
SWOT Analysis
Strengths
- • Experienced and consistent promoter leadership with successful project execution history(p.46)
- • Strong financial performance with growing profitability margins(p.98)
- • No material operational issues with contract labour availability in past three years(p.46)
- • No instances of safety, health and environmental law non-compliance in past three years(p.47)
- • No operational disruptions from mishaps or accidents in past three years(p.47)
- • Strong net asset value per share indicating solid equity base(p.96)
- • High return on equity demonstrating efficient capital utilization(p.98)
- • Established track record for timely execution with skilled management and systems(p.123)
- • Large order book providing revenue visibility(p.123)
- • Owns modern fleet of construction equipment(p.123)
- • Experienced promoter with 15+ years in construction industry(p.124)
- • Strong long-standing customer relationships(p.124)
- • ISO certifications for quality, environment and safety management(p.116)
- • Consistent revenue and EBITDA growth(p.118)
- • Experienced management team with deep industry expertise(p.175)
- • Qualified independent directors with strong professional credentials(p.175)
- • Strong promoter shareholding and control(p.187)
- • Established corporate governance framework compliant with regulations(p.181)
- • Consistent revenue growth and profitability trajectory(p.241)
- • Improving EBITDA margins indicating operational efficiency(p.241)
- • Strong profitability improvement with PAT margin expansion(p.241)
- • Positive returns on equity demonstrating shareholder value(p.241)
- • Diversified service offerings in EPC and machine hiring(p.247)
- • Established industry certifications and quality standards(p.265)
Weaknesses
- • Working capital intensive business with high receivables cycle(p.29)
- • Capital intensive operations requiring significant equipment investment(p.30)
- • Critical dependence on leased premises from promoters(p.30)
- • Heavy reliance on civil foundation work segment(p.31)
- • Pending trademark registration and unprotected intellectual property(p.32)
- • Historical negative cash flows from operations(p.33)
- • Regulatory filing deficiencies and compliance lapses(p.33)
- • High dependence on few major customers(p.35)
- • Significant dependence on top suppliers(p.36)
- • Promoters involved in competing business entity(p.41)
- • Elevated employee attrition rates(p.43)
- • High leverage with debt-to-equity ratio of 1.64 as of December 2024(p.98)
- • Concentrated promoter ownership limiting minority shareholder influence(p.51)
- • Significant management attention diversion required from increased public company compliance burden(p.46)
- • Reliance on unproven IT/ERP systems vulnerable to disruption(p.47)
- • Dependence on successful implementation of business and growth strategy with no assurance of execution(p.51)
- • High customer concentration risk with top customer representing 51% of revenue(p.120)
- • Limited geographic reach primarily in North and Central India(p.116)
- • High debt-to-equity ratio of 1.64 as of December 31, 2024(p.118)
- • Dependence on specialized equipment requiring significant capital investment(p.116)
- • Limited revenue from government projects(p.119)
- • Incomplete educational qualification documentation for Whole-Time Director(p.175)
- • High debt-to-equity ratio indicating significant leverage(p.221)
- • Unsecured related-party loans and interest-free borrowings creating dependency(p.206)
- • Multiple charges on immovable properties not registered within statutory period(p.222)
- • Significant outstanding trade receivables including disputed amounts(p.209)
- • Contingent liabilities from pending litigation and tax disputes(p.218)
- • High leverage with debt-to-equity ratio of 1.24(p.230)
- • Significant dependence on few customers(p.253)
- • Multiple ongoing litigation involving the company(p.257)
- • Criminal proceedings against company and promoters(p.254)
- • Outstanding tax demands across multiple jurisdictions(p.259)
- • Outstanding receivables from customers(p.257)
Opportunities
- • Significant government infrastructure investment expansion(p.22)
- • Growing logistics market with government efficiency targets(p.22)
- • Expansion into new geographic regions(p.34)
- • Infrastructure projects across diverse sectors(p.22)
- • Significant private sector demand in infrastructure(p.22)
- • Expansion of product range with focus on value-added products(p.52)
- • Strategic initiatives, partnerships and acquisitions for growth(p.93)
- • Enhanced brand visibility and market positioning from listing(p.83)
- • Capacity expansion through acquisition of modern construction equipment(p.91)
- • Expand into larger, technically complex infrastructure projects(p.125)
- • Diversify into multiple infrastructure sectors beyond current focus(p.124)
- • Capitalize on India's infrastructure development spending(p.113)
- • Growth from Gati Shakti master plan infrastructure projects(p.112)
- • Entry into new business verticals like irrigation and port construction(p.116)
- • India's projected 6.5% GDP growth and infrastructure expansion(p.107)
- • Expansion of Job Work & EPC business segment showing strong growth(p.220)
- • Diversified revenue streams across hiring and job work businesses(p.212)
- • IPO access to capital markets for growth financing(p.181)
- • Expansion of EPC and construction services business(p.242)
- • Technology adoption to maintain competitive advantage(p.242)
- • Market recovery post-pandemic with increased infrastructure projects(p.250)
- • Vendor relationship development for business growth(p.242)
- • Potential for geographic expansion through licensing(p.267)
Threats
- • Competitive bidding pressure in project awards(p.37)
- • Raw material price volatility(p.37)
- • Project termination and client default risk(p.37)
- • Weather-dependent outdoor operations(p.37)
- • Labour availability and cost pressures(p.40)
- • Regulatory compliance and licensing requirements(p.30)
- • GST and tax compliance delays with penalty exposure(p.41)
- • First listing with associated market price uncertainties(p.23)
- • Dependence on contract labour with potential regulatory restrictions on availability(p.46)
- • Risk of labour cost escalation from minimum wage increases(p.46)
- • Exposure to operational risks including accidents, equipment failure and natural disasters(p.47)
- • Natural calamities and force majeure events creating business disruption(p.50)
- • High dependence on Indian economic conditions and vulnerability to macroeconomic fluctuations(p.52)
- • Exposure to ongoing COVID-19 pandemic uncertainties affecting workforce and operations(p.50)
- • Regulatory changes in Indian tax regime creating uncertainty(p.51)
- • Fluctuation in raw material prices(p.140)
- • Economic recession impact on construction industry(p.140)
- • Dependence on weather conditions for project execution(p.140)
- • Natural calamities affecting project operations(p.140)
- • Intense competition from large regional, national and international construction players(p.158)
- • Regulatory and compliance changes in labor, environmental and construction laws(p.162)
- • Dependence on construction and infrastructure sector cyclicality(p.220)
- • Exposure to customer concentration and project-based revenue volatility(p.207)
- • Regulatory compliance risks including GST and income tax disputes(p.218)
- • Pending litigation affecting business reputation and cash flow(p.189)
- • Dependence on single promoter (Gaurav Gupta) as Managing Director for strategic decisions(p.175)
- • Economic sensitivity and market demand fluctuations(p.242)
- • Raw material and fuel cost volatility(p.242)
- • Regulatory and tax policy changes(p.242)
- • Adverse weather and climate conditions impact on operations(p.253)
- • Macroeconomic and interest rate volatility(p.242)
- • Reliance on equipment and asset availability(p.256)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Gaurav Gupta | Promoter | 78.40% | — |
| Shikha Gupta | Promoter | 9.15% | — |
| Gaurav Gupta & Sons HUF | Promoter Group | 6.62% | — |
| Gaurav Gupta | Promoter | — | — |
| Parveen Kumar Gupta | Promoter | — | — |
| Shikha Gupta | Promoter | — | — |
| Gaurav Gupta | Promoter | 78.40% | — |
| Parveen Kumar Gupta | Promoter | — | — |
| Shikha Gupta | Promoter | 9.15% | — |
| Gaurav Gupta | Promoter | — | — |
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.
Suntech Infra Solutions IPO FAQs
What is the lot size of Suntech Infra Solutions IPO?
The minimum lot size of Suntech Infra Solutions IPO is 1,600 shares. One lot costs ₹1,37,600 at the cut-off price.
When does Suntech Infra Solutions IPO open and close?
Suntech Infra Solutions IPO opened for subscription on 25 Jun 2025 and closed on 27 Jun 2025.
What is the listing date of Suntech Infra Solutions IPO?
Suntech Infra Solutions IPO listed on 02 Jul 2025.