Suntech Infra Solutions IPO subscribed 8 times on day 2 so far, GMP at 22%. Check key dates, other details
Live Events
Company Snapshot
Suntech Infra Solutions IPO objectives
The net proceeds from the IPO will be used to:
Meet working capital requirements (Rs 12.21 crore),
Fund the purchase of new construction equipment (Rs 12.51 crore),
Support general corporate purposes.
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
The initial public offering (IPO) of Suntech Infra Solutions, which opened for subscription on Wednesday, has witnessed an overall subscription of 8.07 times so far on the second day of the bidding. Shares of the company are trading at an impressive grey market premium (GMP) of 22% or Rs 19-21 in the unlisted market.As of noon today, the retail participants had made 15,906 applications for 2.54 crore shares of the company, while the non-institutional investors (NIIs) had made 811 applications for 48.56 lakh shares.The qualified institutional buyers (QIBs) had made just one application for a total of 5.82 lakh shares.The Suntech Infra Solutions IPO will close on June 27, with share allotment expected by June 30. Shares of the company are slated to debut on the NSE SME platform on July 2.The price band for the IPO has been set between Rs 81 and Rs 86 apiece, with investors required to apply for a minimum lot size of 1,600 shares.GYR Capital Advisors is acting as the book-running lead manager, while Mas Services Limited serves as the registrar. Giriraj Stock Broking is the market maker for the issue.Founded in 2009, Suntech Infra Solutions provides a comprehensive suite of civil construction services, including foundation and structural work. The company serves both public and private sector clients across industries such as power, oil & gas, cement, steel, refineries, and infrastructure.Suntech currently has six active projects with a total value exceeding Rs 186 crore, alongside an equipment rental order book worth Rs 10.92 crore. It owns an extensive range of modern construction machinery, including piling rigs, diaphragm wall grabs, boom placers, and cranes. Notable clients include Bharat Mandapam, Indian Oil Corporation (IOCL), Ultratech Cement , and the Unity Group.Financial highlights of Suntech Infra SolutionsThe company has demonstrated consistent financial growth. In FY24, it reported revenue of Rs 96.25 crore and a profit after tax (PAT) of Rs 9.25 crore, compared to Rs 5.76 crore in FY23. The EBITDA margin improved to 28.28%, while the PAT margin stood at 9.67%. The company also posted a robust Return on Equity (ROE) of 28.50% for FY24.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
10 minutes ago
- Time of India
DPIIT secy reviews infra projects of five states
New Delhi: The government has reviewed key issues affecting mega infrastructure projects in Jharkhand, Sikkim, Nagaland, Assam, and Arunachal Pradesh, the commerce and industry ministry said Wednesday. 18 issues across 11 significant projects in Jharkhand with a total cost above Rs 34,213 crores and two issues across two projects costing Rs 943.04 crore in Sikkim were reviewed during the meeting chaired by Department for Promotion of Industry and Internal Trade (DPIIT) secretary Amardeep Singh Bhatia on June 24. 'The meeting, attended by senior officials from central ministries, state governments, and project proponents, focused on expediting issue resolution through enhanced inter-ministerial and state coordination facilitated by the Project Monitoring Group (PMG),' the ministry said. Three issues across two projects in Nagaland, one issue and one project in Assam and seven issues across three projects including a private project in Arunachal Pradesh were reviewed during the meeting. The Patratu Thermal Power Station Expansion Project Phase-I in Jharkhand was reviewed in detail. 'The 2,880 MW Dibang Hydropower Project in Arunachal Pradesh…will feature India's tallest dam and generate 11,223 million units of clean energy annually. Scheduled for commissioning by February 2032, it will aid flood control, provide 13% free power to the state, and support Net Zero goals,' the ministry said. Similarly, the Kohima Bypass Road in Nagaland will decongest Kohima city, improve intra- and inter-state connectivity, and promote trade, tourism, and regional integration. 'Issue pertaining to a private sector project of GeoEnpro Petroleum Limited in the State of Arunachal Pradesh , worth Rs 1,000 crore, was also reviewed during the meeting,' the ministry said, adding that Bhatia advised the state government to accord high priority to the matter and extend all necessary support to GeoEnpro Petroleum Limited to ensure timely resolution of the project-related issues.
Economic Times
13 minutes ago
- Economic Times
Invicta Diagnostic raises Rs 6 crore in pre-IPO round
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
The Print
14 minutes ago
- The Print
Nearly 300 buses to ply on inter-state routes: Nitish Kumar
In a social media post, Kumar said that a cabinet nod was given on June 24 for the purchase of 75 air-conditioned and 74 deluxe buses for Rs 105.82 crore, while another 150 AC buses will be run on the public-private-partnership (PPP) model. He said these buses which include both non-AC and air-conditioned ones will come in handy during the festive seasons since a large number of people visit their home state during Chhath puja, Holi, Diwali and Durga puja. Patna, Jun 26 (PTI) Bihar Chief Minister Nitish Kumar on Thursday said that nearly 300 buses will ply on 'inter-state routes' for the benefit of migrants living in states like Uttar Pradesh, West Bengal, Punjab, Haryana and Delhi. 'People hailing from the state living in Delhi, Uttar Pradesh, Punjab, Haryana, and West Bengal, visit Bihar in large numbers during festivals like Chhath Puja, Holi, Diwali and Durga Puja. They face difficulties while travelling to Bihar during festival seasons. 'To make the journey smoother and more convenient for those visiting Bihar, our government has taken several steps and initiatives. As part of this initiative, the state government is set to operate 299 AC and non-AC buses on inter-state routes connected to Bihar. This was approved in the cabinet meeting held on June 24,' wrote the CM in a post on X. The state government will spend Rs 105.82 crore on the purchase of 75 AC and 74 deluxe buses. Additionally, under the PPP model, 150 more AC buses will be operated. The state government will also request the central government to run additional special trains during festivals, particularly during Chhath puja, Holi, Diwali and Durga puja, wrote the CM. PTI PKD RG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
