Suntech Infra Solutions IPO Day 1: Check GMP, Subscription Status, Offer Size And Price Band

Suntech Infra Solutions Ltd., a B2B construction firm, launched its initial public offering on June 25. The company aims to raise Rs 44.39 crore through the NSE SME issue.

The company’s services include civil construction services, including foundation and structural works, through direct contracting, sub-contracting and equipment rental.

Investors who wish to participate in the Suntech Infra Solutions IPO subscription need to check the following key details:

Suntech Infra Solutions IPO is a book-building offer worth Rs 44.39 crore. The public offer includes a fresh issue of 39.74 lakh shares, amounting to Rs 34.18 crore, and an offer-for-sale portion of 11.87 lakh shares, aimed at raising Rs 10.21 crore.

The IPO price band is set between Rs 81 and Rs 86 per share.

Retail investors must apply for a minimum of one lot of 1,600 shares, requiring an investment of Rs 1,29,600. For high-net-worth individuals (HNIs), the minimum application size is two lots (3,200 shares), amounting to Rs 2,75,200. 

The Suntech Infra Solutions IPO will remain open for subscription till June 27. Allotment of shares is likely to be finalised on June 30. The company is scheduled to process refunds and initiate the transfer of shares on July 1.

Suntech Infra Solutions IPO listing date has been tentatively fixed as July 2. Shares of the company will be listed on the NSE SME platform.

Of the total 51.61 lakh shares, 47.46% will be reserved for QIBs (including 28.46% for anchor investors). The company has set aside 14.26% for the Non-Institutional Investors (NIIs) and 33.26% for retail investors.

GYR Capital Advisors Pvt. is the book-running lead manager for the Suntech Infra Solutions IPO. Mas Services Ltd. has been appointed as the issue’s registrar, while Giriraj Stock Broking Pvt. will serve as the market maker.

The IPO proceeds will primarily be used for funding working capital requirements, purchasing construction equipment and other general corporate purposes.

The IPO has been booked 2.34 times as of 1:39 p.m. on Wednesday

Qualified Institutions: NIL

Non-Institutional Buyers: 2.01 times

Retail Investors: 3.83 times

*The subscription status will be updated at regular intervals.

As per Investorgain, Suntech Infra IPO GMP stood at Rs 23 at 12:29 p.m. on June 25. The latest grey market premium indicates an estimated listing price of Rs 109 per share, reflecting a premium of 26.74% over the upper limit of the IPO price band. 

Note: GMP does not represent official data and is based on speculation.

Suntech Infra Solutions’ consolidated revenue stood at Rs 91.25 crore, down from Rs 96.25 crore in FY24. Its profit after tax rose to Rs 10.28 crore in FY25 from Rs 9.25 crore in the preceding financial year.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.