Swastika Infra IPO 2026: Date, Price Band, GMP and Details
Dates, price band, lot size, financials and full details of the Swastika Infra Limited IPO, sourced from the company's Red Herring Prospectus (RHP).
Swastika Infra IPO at a glance
| Detail | Value |
| IPO Dates | 23 to 25 Sep 2026 |
| Price Band | ₹175 to ₹185 |
| Issue Size | ₹160.88 crore |
| Lot Size | 81 shares |
| Minimum Investment | ₹14,985 |
| Listing Date | 30 Sep 2026 |
Swastika Infra Limited is bringing a Book Built Mainboard IPO worth ₹160.88 crore. It is a mix of a fresh issue of shares worth ₹128.50 crore and an Offer for Sale (OFS) worth ₹32.38 crore. The IPO is open from 23 September to 25 September 2026 and is proposed to list on the BSE and the NSE.
Swastika Infra IPO Details
| Particulars | Details |
| IPO Type | Book Built Mainboard IPO |
| Total Issue Size | ₹160.88 crore (86,95,946 shares) |
| Fresh Issue | ₹128.50 crore |
| Offer for Sale (OFS) | ₹32.38 crore (17,50,000 shares by the promoter selling shareholders) |
| Price Band | ₹175 to ₹185 per share |
| Face Value | ₹10 per share |
| Lot Size | 81 shares |
| Minimum Retail Investment | ₹14,985 (1 lot, at upper price band) |
| Listing On | BSE and NSE |
| Lead Managers | Srujan Alpha Capital Advisors, PhillipCapital (India) |
| Registrar | MUFG Intime India Private Limited |
Swastika Infra IPO Timelines
| Event | Date |
| Anchor Investor Bidding | 22 September 2026 |
| IPO Opens | 23 September 2026 |
| IPO Closes | 25 September 2026 |
| Allotment | 28 September 2026 |
| Refund Initiation | 29 September 2026 |
| Credit of Shares to Demat | 29 September 2026 |
| Listing Date | 30 September 2026 |
Dates are tentative and may change.
Swastika Infra IPO GMP
GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).
About Swastika Infra Limited
Swastika Infra Limited traces its roots to a partnership firm, Swastika Electricals & Fertilizers, formed in 1969. It was converted into Swastika Infra Private Limited in August 2019 and into Swastika Infra Limited in 2025. Based in Jaipur, Rajasthan, it is an engineering, procurement, and construction (EPC) company specialising in power transmission and distribution (T&D) infrastructure.
It provides turnkey EPC services covering underground cabling, construction of substations (gas-insulated and air-insulated) and their associated feeder lines, rural and urban electrification under government schemes, and street lighting. It also trades in power cables and other electrical products. Most of its revenue comes from projects awarded by government utilities. As of 31 July 2026, its order book stood at ₹916.55 crore.
The company's promoters are Babulal Gupta, Vinay Gupta, Ruchira Gupta, Biren Parnami, Manoj Modi, and Vatsalya Gupta.
What are the Key Strengths of Swastika Infra (as stated in the RHP)
- Strong project management and execution capabilities, with a focus on EPC power projects for government utilities.
- Scalable business model with strategic growth initiatives.
- Strong and consistent financial performance.
- Asset-light business model.
- Experienced leadership and a strong management team.
What the Money Will Be Used For
The IPO is a fresh issue of ₹128.50 crore and an Offer for Sale (OFS) of ₹32.38 crore. The OFS money goes to the promoter selling shareholders. The company will use the money from the fresh issue for the following:
| Object of the Issue | Amount |
| Funding incremental working capital requirements | ₹90 crore |
| General corporate purposes | Balance amount |
What are the Company Financials of Swastika Infra
Restated standalone figures, in ₹ crore.
| Particulars | FY 2026 | FY 2025 | FY 2024 | 2-Yr CAGR |
| Total Income | 505.57 | 352.60 | 211.33 | 54.67% |
| Profit After Tax (PAT) | 41.43 | 27.45 | 13.98 | 72.13% |
| EBITDA | 70.85 | 43.89 | 23.71 | 72.86% |
| Net Worth | 156.78 | 77.02 | 49.57 | 77.84% |
| Total Borrowing | 112.09 | 110.79 | 43.45 | 60.62% |
2-Yr Compound Annual Growth Rate (CAGR) is calculated from FY 2024 to FY 2026.
Who Can Apply
The offer is split across investor categories as follows:
| Category | Share of the Net Offer |
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Non-Institutional Investors (NII) | Not less than 15% |
| Retail Individual Investors (RII) | Not less than 35% |
How to Apply for the Swastika Infra IPO
You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.
- Log in to your broker app or your bank's net banking.
- Open the IPO section and select Swastika Infra IPO.
- Enter the number of lots and your bid price, or select the cut-off price.
- Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
- Submit the application form.
- Approve the mandate request in your UPI app to block the funds until allotment.
How to Check Allotment Status
The basis of allotment is expected to be finalised on 28 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.
- On the registrar's website, MUFG Intime India, at the public issues page.
- On the BSE or NSE website under the IPO allotment section.
- Inside your broker app, under orders or IPO history.
Key Risk Factors
The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.
- Its revenue is majorly concentrated in projects undertaken or awarded by government utilities.
- Its present order book consists of large-scale projects, creating concentration.
- Its credit rating was downgraded during Fiscal 2022.
- EPC power projects are typically awarded through a competitive bidding process and on meeting prescribed qualification criteria.
- The business is working capital intensive and involves relatively long implementation periods.
- It derives a significant portion of its revenue from a limited number of clients.
- It is required to furnish bank guarantees as part of its business.
- It operates in the power T&D sector, which has low entry barriers and is highly competitive.
- It does not own the premises from which it conducts its business.
- The company, and some of its promoters and senior management, are parties to certain legal proceedings.
Frequently Asked Questions (FAQs)
1. When does the Swastika Infra IPO open and close?
The IPO opens on 23 September 2026 and closes on 25 September 2026.
2. What is the price band of the IPO?
The price band is ₹175 to ₹185 per share.
3. What is the lot size?
One lot is 81 shares. Applications are made in multiples of 81 shares.
4. What is the minimum investment for retail investors?
The minimum investment is ₹14,985 at the upper price band (1 lot of 81 shares).
5. When is the allotment date?
The allotment is expected to be finalised on 28 September 2026, with shares credited to demat accounts by 29 September 2026.
6. When is the listing date?
The shares are proposed to be listed on the BSE and the NSE on 30 September 2026 (tentative).
7. What does Swastika Infra do?
It is an engineering, procurement, and construction (EPC) company specialising in power transmission and distribution infrastructure, including cabling, substations, electrification, and street lighting.
8. What is the GMP of the Swastika Infra IPO?
GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.
9. Who is the registrar for the IPO?
MUFG Intime India Private Limited is the registrar. Allotment status can be checked on its website.
Read the full Red Herring Prospectus (RHP): View the official RHP filed with SEBI and the exchanges.
Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.