| IPO Date | September 23, 2025 to September 25, 2025 |
|---|---|
| Face Value | ₹10 per share |
| Issue Price Band | ₹80 to ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding (Pre-Issue) | 1,46,23,820 shares |
| Share Holding (Post-Issue) | 1,99,23,020 shares |
| Total Issue Size | 52,99,200 shares (aggregating up to ₹45.04 Cr) |
| Reserved for Market Maker | 2,68,800 shares (aggregating up to ₹2.28 Cr)Rikhav Securities Ltd. |
| Net Offered to Public | 50,30,400 shares (aggregating up to ₹42.76 Cr) |
| Offer for Sale | - |
| Fresh Issue (ex Market Maker) | - |
Date: Monday, 22 September 2025
IPO subscription opens for investorsDate: Wednesday, 24 September 2025
Last date for IPO subscriptionDate: Thursday, 25 September 2025
Expected date for share allotmentDate: Sunday, 28 September 2025
Refunds initiated for unsuccessful applicationsDate: Sunday, 28 September 2025
Shares credited to demat accountsDate: Monday, 29 September 2025
Expected listing date on stock exchangeUPI Mandate Confirmation Cut-off: 5 PM on Thu, Sep 25, 2025
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12800 | ₹10,88,000 |
| Category | Shares Offered | Max Allottees |
|---|---|---|
| Market Maker Shares Offered | 2,68,800 (5.07%) | - |
| QIB Shares Offered | 24,64,000 (46.50%) | - |
| − Anchor Investor Shares Offered | 14,75,200 (27.84%) | - |
| − QIB (Ex. Anchor) Shares Offered | 9,88,800 (18.66%) | - |
| NII (HNI) Shares Offered | 7,68,000 (14.49%) | - |
| − bNII > ₹10L | 5,12,000 (9.66%) | - |
| − sNII < ₹10L | 2,56,000 (4.83%) | - |
| Retail Shares Offered | 17,98,400 (33.94%) | - |
| Total Shares Offered | 52,99,200 (100.00%) | - |
| Period | Revenue | Profit After Tax | Net Worth | Assets |
|---|---|---|---|---|
| 30/03/2025 | - | 7.59 | 37.22 | 42.02 |
| 30/03/2024 | - | 6.9 | 16 | 22.33 |
| 30/03/2023 | - | 1.81 | 3.18 | 5.27 |
| KPI | Values |
|---|---|
| ROE | 28.21% |
| ROCE | 19.69% |
| Debt/Equity | 0.04 |
| RoNW | 20.38% |
| PAT Margin | 26.93% |
| EBITDA Margin | 28.12% |
| Price to Book Value | 3.32 |
| type | pre_ipo | post_ipo |
|---|---|---|
| - | 5.19 | 3.81 |
| - | 16.38 | 22.32 |
| Sr. no/th> | Category | No. of. shares. offered / reserved | No. of Shares Bid for | No. of. times. of. total. meant. for. the. Category |
|---|---|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 9,88,800 | 82,40,000 | 8.33 |
| 1(a) | Foreign Institutional Investors (FIIs) | - | - | - |
| 1(b) | Domestic Financial Institutions (Banks/ Financial Institutions(FIs)/ Insurance Companies) | - | - | - |
| 1(c) | Mutual Funds | - | - | - |
| 1(d) | Others | - | 82,40,000 | - |
| 2 | Non Institutional Investors | 10,36,800 | 1,25,58,400 | 12.11 |
| 2.1 | Non-Institutional Investors (Bid amount of more than Ten Lakh Rupees) | 5,12,000 | 96,88,000 | 18.92 |
| 2.1(a) | Corporates | - | 11,42,400 | - |
| 2.1(b) | Individuals | - | 84,30,400 | - |
| 2.1(c) | Others | - | 1,15,200 | - |
| 2.2 | Non-Institutional Investors (Bid amount upto Ten Lakh Rupees) | 2,56,000 | 28,70,400 | 11.21 |
| 2.2(a) | Corporates | - | 38,400 | - |
| 2.2(b) | Individuals (IND category bidding for more than 2 Lots ) | - | 28,17,600 | - |
| 2.2(c) | Others | - | 14,400 | - |
| 3 | Individual Investors (IND category bidding for 2 Lots) | 17,98,400 | 1,53,40,800 | 8.53 |
| 3(a) | Price bids | - | 1,53,40,800 | - |
| 4 | Eligible Employees (EMP) | - | - | - |
| 4(a) | Price bids | - | - | - |
| 5 | Eligible Share Holders (SHA) | - | - | - |
| 5(a) | Price bids | - | - | - |
| 6 | Eligible Policy Holders (POL) | - | - | - |
| 6(a) | Price bids | - | - | - |
| Total | 38,24,000 | 3,61,39,200 | 9.45 |
| gmp date | ipo price | gmp | Subscription | sub2 sauda rate | estimated listing price | estimated profit | last updated |
|---|---|---|---|---|---|---|---|
|
30/09/2025
Listing |
85.00 | Rs. 5 no-change | 10.07x | 6100 | 90 (5.88) | Rs. 8000 | 30/9/2025, 9:37:00 am |
|
29/09/2025
|
85.00 | Rs. 5 no-change | 10.07x | 6100 | 90 (5.88) | Rs. 8000 | 29/9/2025, 11:36:00 pm |
|
28/09/2025
|
85.00 | Rs. 5 no-change | 10.07x | 6100 | 90 (5.88) | Rs. 8000 | 28/9/2025, 11:34:00 pm |
|
27/09/2025
|
85.00 | Rs. 5 no-change | 10.07x | 6100 | 90 (5.88) | Rs. 8000 | 27/9/2025, 11:31:00 pm |
|
26/09/2025
Allotment |
85.00 | Rs. 5 down | 10.07x | 6100 | 90 (5.88) | Rs. 8000 | 26/9/2025, 11:31:00 pm |
|
25/09/2025
Close |
85.00 | Rs. 8 no-change | 10.07x | 9700 | 93 (9.41) | Rs. 12800 | 25/9/2025, 11:37:00 pm |
|
24/09/2025
|
85.00 | Rs. 8 down | 1.77x | 9700 | 93 (9.41) | Rs. 12800 | 24/9/2025, 11:30:00 pm |
|
23/09/2025
Open |
85.00 | Rs. 10 up | 1.07x | 12200 | 95 (11.76) | Rs. 16000 | 23/9/2025, 11:35:00 pm |
|
22/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 22/9/2025, 11:37:00 pm | |
|
21/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 21/9/2025, 11:29:00 pm | |
|
20/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 20/9/2025, 11:34:00 pm | |
|
19/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 19/9/2025, 11:28:00 pm | |
|
18/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 18/9/2025, 11:30:00 pm | |
|
17/09/2025
|
85.00 | Rs. 0 no-change | -- | 85 (0) | Rs. 0 | 17/9/2025, 11:36:00 pm | |
|
16/09/2025
|
85.00 | Rs. 0 no-change | -- | () | Rs. 0 | 16/9/2025, 7:57:00 am |