Srinivas Pradhan Constructions’ Rs 20 crore IPO was open for subscription from March 6 to March 10, ending on March 11 on an allotment basis. The IPO was accompanied by a fresh issue of Rs 16.79 crore and an offer for sale worth Rs 3.53 crore, aggregating to 20.73 lakh shares.
The issue saw demand from moderate investors, with a total of 1.13 times the IPO’s participation. The non-institutional investor (NII) category was subscribed 1.57 times, while the qualified institutional buyer (QIB) segment was subscribed 1.13 times. Retail investor participation remains relatively low, with 0.69 times the retail share.
Incorporated in 2020, Sarinbas Pradhan Construction operates in the infrastructure and utilities sector, mainly focusing on projects related to roads, highways, bridges and power infrastructure.
The company is involved in the construction of steel structures for rural roads, district highways and urban roads, bridge projects and infrastructure and industrial facilities. It also provides civil construction services covering industrial buildings, foundations and multi-storey structures.
Sarinbas Pradhan Construction participates in competitive bidding process for infrastructure projects especially in Odisha, working with state government departments, public sector companies and private companies.
Its project portfolio spans roads, bridges, irrigation works, canal infrastructure and industrial development projects. As of February 15, 2026, the company reported a combined order book of approximately Rs 184 crore, providing an outlook for future revenue.
Financially, the company has reported steady growth in recent years. For FY25, it reported revenue of Rs 89.73 crore and profit after tax of Rs 6.59 crore. For the six months ended September 2025, revenue was Rs 45.63 crore, with a profit after tax of Rs 4.11 crore.
The Company plans to use the proceeds from the Fresh Issue primarily to finance working capital requirements, repay a portion of existing debt, and meet general corporate expenses.
With the gray market not showing a listing premium, investors will be watching closely how the stock performs when it debuts on the SME exchange later this week.
