02-07-2025
- Business
- Business Standard
NSE SME Suntech Infra Solutions impresses on listing day
Shares of Suntech Infra Solutions were trading at Rs 103.65 on the NSE, a premium of 20.52% compared with the issue price of Rs 86.
The scrip was listed at Rs 109.10, a premium of 26.86% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.
The counter hit a high of Rs 110 and a low of Rs 103.65. About 12.64 lakh shares of the company changed hands at the counter.
Suntech Infra Solutions' IPO was subscribed 208 times. The issue opened for bidding on 25 June 2025 and it closed on 27 June 2025. The price band of the IPO was set at Rs 81 to Rs 86 per share.
The issue comprised 51,61,600 equity shares, including a fresh issue of upto 39,74,400 equity shares and offer for sale (OFS) of upto 11,87,200 equity shares.
The company intends to utilize the net proceeds for funding working capital requirements of the company, funding of capital expenditure requirements of the company towards purchase of construction equipment for civil construction business and general corporate purposes.
Ahead of the Suntech Infra Solutions on 24 June 2025, raised Rs 12.63 crore from anchor investors. The board has allotted 14.68 lakh shares at Rs 86 per share to 7 anchor investors.
Suntech Infra Solutions is engaged in the business of civil construction services, including civil foundation works (such as piling and foundation work), civil structural works, and construction equipment rentals. The company has provided services to both the public and private sectors. Its clients include companies operating in the power, oil & gas, steel, cement, renewable energy, refineries, petrochemical plants, fertilizer plants, and process plants industries, as well as in urban and rural infrastructure development projects such as bridges, metros, irrigation projects, and more. As of 31 December 2024, the company has total 576 employees.
