The Srinibas Pradhan Constructions IPO opens today, drawing attention from investors tracking activity in the SME segment. The public issue began accepting bids on March 6 and will remain open for subscription until March 10.
The infrastructure-focused company is entering the market with a relatively modest issue size, aiming to raise funds to support its operations and strengthen its financial position. The IPO is part of the growing pipeline of SME listings that continue to attract interest across India’s primary market.
Here’s a closer look at the Srinibas Pradhan Constructions IPO, including the price band, subscription status, issue structure, and company background.
Srinibas Pradhan Constructions IPO Opens for Subscription
The Srinibas Pradhan Constructions IPO officially opened for public subscription on March 6, giving investors a four-day window to place their bids.
The issue will close on March 10, after which the allotment process will begin.
Key Timeline of the IPO
- IPO Opening Date: March 6
- IPO Closing Date: March 10
- Expected Allotment Date: March 11
- Shares Credited to Demat: March 12
- Tentative Listing Date: March 13
- Listing Platform: NSE SME
The listing on the NSE SME platform places the company among the growing number of small and mid-scale businesses tapping public markets to raise capital.
Srinibas Pradhan Constructions IPO Price Band
The price band for the Srinibas Pradhan Constructions IPO has been fixed in the range of ₹91 to ₹98 per share.
This price range determines the amount investors will pay while placing bids during the subscription window.
Key Pricing Details
- Price Band: ₹91 – ₹98 per share
- Lot Size: 1,200 shares
- Minimum Retail Application: 2 lots
Retail investors must apply for at least two lots, which translates into 2,400 shares.
At the upper price band of ₹98 per share, the minimum investment amount comes to roughly ₹2.35 lakh.
Srinibas Pradhan Constructions IPO Subscription Status
The Srinibas Pradhan Constructions IPO subscription status showed a slow start during the early hours of Day 1.
As of 12:52 PM on March 6, the issue had been subscribed 0.02 times overall.
Category-Wise Subscription
- Retail Investors: 0.02 times
- Non-Institutional Investors (NII): 0.01 times
- Qualified Institutional Buyers (QIB): No bids received yet
The company received bids for 31,200 shares against the 19.69 lakh shares available in the public issue at that point.
Early subscription numbers often change significantly as the issue progresses, particularly closer to the closing day.
Issue Size and Structure of the IPO
The Srinibas Pradhan Constructions IPO aims to raise ₹20.38 crore through a combination of fresh shares and an offer for sale.
Breakdown of the Issue
- Total Issue Size: ₹20.38 crore
- Fresh Issue: 17 lakh shares worth ₹16.79 crore
- Offer for Sale (OFS): 4 lakh shares worth ₹3.53 crore
A fresh issue means new shares are created and sold to raise capital for the company.
In contrast, an offer for sale (OFS) enables existing shareholders to sell part of their stake in the company through the IPO. The proceeds from these shares go to the selling shareholders rather than the company.
Utilisation of IPO Proceeds
The company has outlined specific plans for using the funds raised through the Srinibas Pradhan Constructions IPO.
A large share of the funds will be used to support the company’s daily operations and address its financial commitments.
Planned Use of Funds
From the ₹12.55 crore estimated net proceeds, the allocation includes:
- ₹11.55 crore for working capital requirements
- ₹1 crore for partial repayment of loans
- Remaining funds for general corporate purposes
Working capital typically supports operational expenses such as project execution, payments to suppliers, and ongoing business activities.
Key Entities Managing the IPO
Several institutions are responsible for managing and executing the Srinibas Pradhan Constructions IPO process.
IPO Management Team
- Book Running Lead Manager: Novus Capital Advisors Private Limited
- Registrar: Maashitla Securities Pvt Ltd
- Market Maker: Rikhav Securities Ltd.
These entities oversee the regulatory process, subscription management, allotment procedures, and listing coordination.
About Srinibas Pradhan Constructions
Srinibas Pradhan Constructions Limited is an infrastructure company headquartered in Odisha.
The company is engaged in the construction and development of civil infrastructure projects across multiple segments.
Core Business Areas
The company undertakes projects related to:
- Road construction
- Highways development
- Bridge construction
- Industrial building construction
- Maintenance and civil work
Infrastructure projects form the backbone of the company’s operations, with roads and bridges contributing the largest share of revenue.
Revenue Contribution by Segment
The company’s revenue mix during FY25 highlights the dominance of road and bridge construction in its project portfolio.
Segment-Wise Revenue Contribution (FY25)
- Roads and Bridges: 70.23%
- Industrial and Other Buildings: 23.82%
- Maintenance Work: 5.53%
- Equipment Rental: 0.42%
This breakdown shows that transportation infrastructure projects remain the company’s primary business driver.
Client Mix and Business Model
Srinibas Pradhan Constructions primarily operates through a business-to-business (B2B) model.
The majority of its revenue comes from private sector clients rather than government projects.
Revenue Distribution by Client Type
- Non-Government Clients: 91.19% of revenue
- Remaining revenue generated from other project sources.
The company also executes projects through a mix of direct contracts and subcontracted work.
Project Execution Mix
- Direct Contracts: 54.36%
- Subcontracted Work: 45.64%
This combination allows the company to participate in large infrastructure projects both independently and through partnerships.
Current Order Book Position
As of February 2026, the company reported a total order book of ₹184.07 crore.
An order book reflects the value of projects that have already been secured but are yet to be completed. It provides visibility into upcoming work and revenue opportunities based on existing contracts.
For infrastructure companies like Srinibas Pradhan Constructions, the order book plays a key role in understanding ongoing project pipelines.
What the Srinibas Pradhan Constructions IPO Means for the SME Market?
The launch of the Srinibas Pradhan Constructions IPO adds another infrastructure player to the NSE SME platform.
SME IPOs have become an important route for smaller companies to access public capital markets while expanding their operational scale.
With the company focusing on roads, bridges, and industrial construction, its business is tied closely to infrastructure development activity in India.
Summary
The Srinibas Pradhan Constructions IPO opens today, offering investors an opportunity to participate in the public issue of the Odisha-based infrastructure company.
Here are the key highlights:
- The IPO opened on March 6 and will close on March 10
- Price band: ₹91 to ₹98 per share
- Total issue size: ₹20.38 crore
- Fresh issue: ₹16.79 crore
- Offer for sale: ₹3.53 crore
- Minimum retail investment: About ₹2.35 lakh
- Tentative listing: March 13 on NSE SME
The funds raised through the IPO will mainly support working capital needs, loan repayment, and general corporate activities.
With an order book of ₹184.07 crore and a strong focus on road and bridge construction, the company continues to operate within India’s expanding infrastructure sector.
Source: Livemint
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