Recommendation- Neutral
Issue Highlights:
Open Date- June 18, 2025 Close Date- June 20, 2025 Issue Price- Rs 210 - Rs 222 per share Total Issue Size- Rs 499.60 Cr Market Lot- 67 Equity Shares Issue Type- Book building IPO
– Established in 2021, headquartered in Mumbai. – Fast-growing infrastructure solutions company. – Operates in trading & distribution of construction materials, EPC services, and real estate development. – Leverages technology, supply-chain integration, and customer-centric execution. – Professionally managed, multi-vertical organization backed by experienced promoters.
– Revenue CAGR of 24% over the last 2 years. – FY22 Revenue: ₹452.34 crore – FY24 Revenue: ₹696.84 crore – EBITDA increased 5.3x from ₹7.2 crore (FY22) to ₹38.7 crore (FY25). – The company turned profitable in Q3FY24.