Swastika Infra Limited IPO
23 Sept 2026 – 25 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹205
- H
- ₹217
- L
- ₹198.05
- C
- ₹200.13
4 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹175 – ₹185
- Lot Size
- 81 shares
- Min Investment
- ₹14,985 (1 lot · 81 shares)
- Face Value
- ₹10
- Fresh Issue
- ₹128.5 Cr (to the company)
- Offer for Sale
- 17,50,000 shares (to selling holders)
- Issue Size
- Initial Public offer comprising of Fresh issue aggregating up to Rs. 12,850 Lakhs and Offer for Sale of upto 17,50,000 Equity Shares (including Anchor investor portion of 26,08,782 Equity shares)
- Registrar
- MUFG Intime India Private Limited ↗
Timetable
GMP History
Latest GMP ₹7 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 29 Sept | ₹8 | +4.3% | +₹2 | ₹193 | |
| 28 Sept | ₹6 | +3.2% | −₹0.5 | ₹191 | |
| 27 Sept | ₹6.5 | +3.5% | +₹0.5 | ₹191.5 | |
| 26 Sept | ₹6 | +3.2% | +₹1.5 | ₹191 | |
| 25 Sept | ₹4.5 | +2.4% | −₹4.5 | ₹189.5 | |
| 24 Sept | ₹9 | +4.9% | −₹0.5 | ₹194 | |
| 23 Sept | ₹9.5 | +5.1% | +₹1.5 | ₹194.5 | |
| 22 Sept | ₹8 | +4.3% | +₹5 | ₹193 | |
| 21 Sept | ₹3 | +1.6% | — | ₹188 |
Subscription
Category-wise bidding
| Category | Offered | Bid for | Times |
|---|---|---|---|
| QIB | 17,88,57228.2% | 46,99,296 | 2.63x |
| NII / HNI | 13,63,92921.5% | 2,05,36,578 | 15.06x |
| bNII · bids above ₹10L | 9,09,28614.4% | 1,52,87,292 | 16.81x |
| sNII · bids ₹2L–₹10L | 4,54,6437.2% | 52,49,286 | 11.55x |
| Retail | 31,82,50050.2% | 1,18,86,588 | 3.73x |
Bids received on NSE, as at 25-Sep-2026 19:00:49 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 25 Sept | — | — | — | 5.86x |
| 24 Sept | 1.00x | 2.58x | 1.59x | 1.64x |
| 23 Sept | 0.69x | 1.90x | 0.71x | 0.96x |
Financials
All values in ₹ crore
About Swastika Infra
Incorporated in August 2019, Swastika Infra Limited is an Engineering, Procurement, and Construction (EPC) company specializing in power distribution infrastructure projects (EPC Power Projects) and the sale of electrical products. Business Verticals: EPC Power Projects: The company provides end-to-end turnkey solutions covering procurement, supply, erection, installation, testing, and commissioning of power infrastructure. The scope of work includes: Underground cabling work – Laying, installation, and commissioning of high-voltage/low-voltage power cables to enhance efficiency and reduce power losses. Construction of substations – Execution of Gas Insulated Substations (GIS) and Air Insulated Substations (AIS), including installation of power transformers, circuit breakers, and ring main units. Rural and urban electrification projects – Expanding electricity access in underserved regions by implementing distribution networks, service connections, and feeder lines under government schemes. Installation of street lighting systems – Enhancing urban and rural infrastructure through public lighting projects. Sale of Products: The company is engaged in the trading of electrical products, including the procurement and sale of power cables and other electrical items. While the primary focus is on EPC projects, this segment remains part of its operations. Projects & Presence: Completed Projects: Since 2012, the company has completed 34 EPC Power Projects across four Indian states, covering 8,519.50 circuit kilometres (CKM) with a total contract value of ₹60,410 Lakhs. Ongoing Projects: As of February 28, 2025, The company has 12 ongoing EPC Power Projects across five Indian states with an aggregate order value of Rs 1,47,815 Lakhs. Notable Projects: System Strengthening Works of Jaipur JCC Circle under Jaipur Discom in Rajasthan. Supply contract for rural electrification work in Dausa District. Rural electrification works in Sikar under Ajmer Discom, Rajasthan.
As published in the company's own offer documents.
Strengths
- Experienced promoters and management team.
- Asset-light business model with centralized procurement.
- Scalable business model supported by a strong order book.
- Proven execution track record across multiple Indian states.
- Established track record with government utilities and infrastructure clients.
- Strong project management and execution capabilities in EPC Power Projects.
- Diversified capabilities across power distribution, transmission and renewable energy.
As stated by the company in its prospectus — not our assessment.
The company's own risk factors are not shown here. They run to dozens of pages in the Red Herring Prospectus, under “Risk Factors”, and are worth the read before applying.
Lead Managers
- Srujan Alpha Capital Advisors LLP
- PhillipCapital (India) Private Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 81 | ₹14,985 |
| Retail (max)most that stays under ₹2L | 13 | 1,053 | ₹1,94,805 |
| S-HNI (min)first bid over ₹2L | 14 | 1,134 | ₹2,09,790 |
| S-HNI (max)most that stays under ₹10L | 66 | 5,346 | ₹9,89,010 |
| B-HNI (min)first bid over ₹10L | 67 | 5,427 | ₹10,03,995 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Minimum Order
- 81 Equity Shares
- Categories
- FI, IC, MF, FII, OTH, CO, IND, and NOH
- UPI Eligible
- IND (upto 5 Lakhs)
- Max Bid (Retail)
- Rs. 2,00,000
- Max Bid (QIB)
- 63,34,929 Equity Shares in multiple of 81 Equity Shares
- Max Bid (NII)
- 45,46,368 Equity Shares in multiple of 81 Equity Shares
- Tick Size
- Re. 1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m.
- UPI Mandate Cut-off
- 25-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability
- Sponsor Bank
- HDFC Bank Limited
Registrar
- Name
- MUFG Intime India Private Limited
- Address
- C 101, 1st Floor, 247 Park, Lal Bhadur Shastri Marg, Vikhroli (West), Mumbai 400 083, Maharashtra, India
- Contact
- Shanti Gopalkrishnan, +91 810 811 4949, swastikainfra.ipo@in.mpms.mufg.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Bidding CentresWhere a physical form can be handed inPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
Frequently Asked Questions
What is the GMP of Swastika Infra Limited IPO today?
The latest grey market premium for Swastika Infra Limited IPO is ₹7. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Swastika Infra Limited IPO?
The price band is ₹175 – ₹185, with a lot size of 81 shares. The minimum investment is ₹14,985.
When does Swastika Infra Limited IPO open and close?
The issue opens on 23 Sept 2026 and closes on 25 Sept 2026. Listing is expected on 30 Sept 2026.
Who is the registrar for Swastika Infra Limited IPO?
MUFG Intime India Private Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.