Srinibas Pradhan Constructions IPO
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Srinibas Pradhan Constructions IPO details
Schedule of Srinibas Pradhan Constructions
| Issue open date | 06 Mar 2026 |
| Issue close date | 10 Mar 2026 |
| UPI mandate deadline | 10 Mar 2026 (5 PM) |
| Allotment finalization | 11 Mar 2026 |
| Refund initiation | 12 Mar 2026 |
| Share credit | 12 Mar 2026 |
| Listing date | 13 Mar 2026 |
| Mandate end date | 25 Mar 2026 |
| Lock-in end date for anchor investors (50%) | 10 Apr 2026 |
| Lock-in end date for anchor investors (remaining) | 09 Jun 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Srinibas Pradhan Constructions
Srinibas Pradhan Constructions Limited was incorporated on September 25, 2020, as a private limited company and converted into a public limited company on February 9, 2024. The Company is headquartered in Jharsuguda, Odisha. The Promoters are Mr Ramakanta Pradhan, Mr Srinibas Pradhan and Mrs Jyotshna Pradhan.SPCL operates in the infrastructure development sector with a primary focus on roads and highways, including rural, major district and urban roads. The Company also undertakes construction of high-level bridges, steel structures, foundations, superstructures, multi-storied buildings, factories and industrial facilities. Its business model is largely tender-based, where it participates in competitive bidding for government and infrastructure projects in Odisha.SPCL’s strengths lie in its diversified civil construction capabilities, execution experience across multiple infrastructure segments, and established presence in the Odisha market.
Financials of Srinibas Pradhan Constructions
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 20.32 |
| Fresh Issue – Proceeds go to the company | 16.79 |
| Offer for sale – Proceeds go to the existing investors |
3.53 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding Working Capital Requirements | 11.55 (68.80%) |
| Repayment of Portion of Loan | 1 (6%) |
| General corporate purposes | 4.24 (25.20%) |
Strengths
- Strong presence in roads, highways, bridges, and civil infrastructure projects.
- Holds PWD ‘B’ Class license; subsidiary holds ‘A’ Class license for higher-value tenders.
- Promoters bring over 23 years of experience in government construction projects.
- ISO 9001, ISO 14001, and ISO 45001 certified for quality and compliance standards.
- Demonstrated growth in revenue and profitability in recent years.
Risks
- Operations are geographically concentrated in Odisha.
- High dependence on government contracts through competitive bidding.
- Significant related party transactions with promoter-linked entities.
- Pending civil litigation relating to land acquisition compensation.
- GST notice issued to subsidiary for alleged inadmissible ITC claim.