Latest news with #SuntechInfraSolutions
Economic Times
10 hours ago
- Business
- Economic Times
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 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 qualified institutional buyers (QIBs) had made just one application for a total of 5.82 lakh 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 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 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 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 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 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)
Time of India
10 hours ago
- Business
- Time of India
Suntech Infra Solutions IPO subscribed 8 times on day 2 so far, GMP at 22%. Check key dates, other details
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. Live Events 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. Company Snapshot 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 Solutions The 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. Also read: HDB Financial's pre-IPO lottery backfires. Are unlisted stocks not worth the hype? 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. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
2 days ago
- Business
- Time of India
Suntech Infra Solutions IPO opens today: Check Price band, subscription and other details
Suntech Infra Solutions, a B2B civil construction services provider, has opened its initial public offering (IPO) for subscription today. The Rs 44.39 crore IPO comprises a fresh issue of 39.74 lakh shares worth Rs 34.18 crore and an offer for sale (OFS) of 11.87 lakh shares aggregating to Rs 10.21 crore by existing shareholders. The IPO will close on June 27, with allotment likely to be finalised by June 30. The stock is scheduled to list on the NSE SME platform on July 2. The price band is fixed between Rs 81 and Rs 86 per share, and investors can bid for a minimum lot of 1,600 shares. The IPO is being managed by GYR Capital Advisors, with Mas Services Limited as the registrar. Giriraj Stock Broking is acting as the market maker. Company overview Incorporated in 2009, Suntech Infra Solutions offers a range of civil construction services, including foundation and structural work. It operates in both public and private sectors across industries like power, oil & gas, steel, cement, refineries, and infrastructure. The company currently has six ongoing projects valued at over Rs 186 crore and an equipment rental order book worth Rs 10.92 crore. It owns a large fleet of modern equipment including piling rigs, diaphragm wall grabs, boom placers, and cranes. Key clients include Bharat Mandapam, IOCL, Ultratech, and the Unity Group. Financial Performance The company has shown steady financial growth. For FY24, it reported revenue of Rs 96.25 crore and profit after tax of Rs 9.25 crore, up from Rs 5.76 crore in FY23. EBITDA margin improved to 28.28%, and PAT margin stood at 9.67%. Its return on equity (ROE) for FY24 is a healthy 28.50%. The IPO proceeds will be utilised to fund working capital needs (Rs 12.21 crore), purchase of construction equipment (Rs 12.51 crore), and for general corporate purposes. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
