| IPO Date | November 11, 2025 to November 13, 2025 |
|---|---|
| Face Value | ₹10 per share |
| Issue Price Band | ₹200 to ₹204 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding (Pre-Issue) | 1,00,10,000 shares |
| Share Holding (Post-Issue) | 1,29,18,800 shares |
| Total Issue Size | 34,23,600 shares (aggregating up to ₹69.84 Cr) |
| Reserved for Market Maker | 1,71,600 shares (aggregating up to ₹3.50 Cr)Giriraj Stock Broking Pvt.Ltd. |
| Net Offered to Public | 32,52,000 shares (aggregating up to ₹66.34 Cr) |
| Offer for Sale | 5,14,800 shares of ₹10 (aggregating up to ₹10.50 Cr) |
| Fresh Issue (ex Market Maker) | 27,37,200 shares (aggregating up to ₹55.84 Cr) |
Date: Monday, 10 November 2025
IPO subscription opens for investorsDate: Wednesday, 12 November 2025
Last date for IPO subscriptionDate: Thursday, 13 November 2025
Expected date for share allotmentDate: Sunday, 16 November 2025
Refunds initiated for unsuccessful applicationsDate: Sunday, 16 November 2025
Shares credited to demat accountsDate: Monday, 17 November 2025
Expected listing date on stock exchangeUPI Mandate Confirmation Cut-off: 5 PM on Thu, Nov 13, 2025
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1200 | ₹2,44,800 |
| Individual investors (Retail) (Max) | 2 | 1200 | ₹2,44,800 |
| S-HNI (Min) | 3 | 1800 | ₹3,67,200 |
| S-HNI (Max) | 8 | 4800 | ₹9,79,200 |
| B-HNI (Min) | 9 | 5400 | ₹11,01,600 |
| Category | Shares Offered | Max Allottees |
|---|---|---|
| Market Maker Shares Offered | 1,71,600 (5.01%) | - |
| QIB Shares Offered | 16,22,400 (47.39%) | - |
| − Anchor Investor Shares Offered | 9,60,000 (28.04%) | - |
| − QIB (Ex. Anchor) Shares Offered | 6,62,400 (19.35%) | - |
| NII (HNI) Shares Offered | 4,89,600 (14.30%) | - |
| − bNII > ₹10L | 3,26,400 (9.53%) | - |
| − sNII < ₹10L | 1,63,200 (4.77%) | - |
| Retail Shares Offered | 11,40,000 (33.30%) | - |
| Total Shares Offered | 34,23,600 (100.00%) | - |
| Period | Revenue | Profit After Tax | Net Worth | Assets |
|---|---|---|---|---|
| 30/08/2025 | - | 7.22 | 30.1 | 69.44 |
| 30/03/2025 | - | 13.93 | 22.89 | 62.16 |
| 30/03/2024 | - | 5.35 | 8.96 | 24.57 |
| 30/03/2023 | - | 1.86 | 3.61 | 11.14 |
| KPI | Values |
|---|---|
| ROE | 67.44% |
| ROCE | 64.61% |
| Debt/Equity | 0.38 |
| RoNW | 60.85% |
| PAT Margin | 12.85% |
| EBITDA Margin | 17.58% |
| Price to Book Value | 8.92 |
| Market Capitalization | ₹263.54 Cr. |
| type | pre_ipo | post_ipo |
|---|---|---|
| - | 13.91 | 13.41 |
| - | 14.66 | 15.21 |
| 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) | 6,62,400 | 9,73,93,200 | 147.03 |
| 1(a) | foreign institutional investors (fiis) | - | 2,67,42,600 | - |
| 1(b) | domestic financial institutions (banks/ financial institutions(fis)/ insurance companies) | - | 53,39,400 | - |
| 1(c) | mutual funds | - | 2,35,200 | - |
| 1(d) | others | - | 6,50,76,000 | - |
| 2 | non institutional investors | 6,61,200 | 9,95,41,200 | 150.55 |
| 2.1 | non-institutional investors (bid amount of more than ten lakh rupees) | 3,26,400 | 8,01,01,800 | 245.41 |
| 2.1(a) | corporates | - | 21,57,600 | - |
| 2.1(b) | individuals | - | 7,63,81,800 | - |
| 2.1(c) | others | - | 15,62,400 | - |
| 2.2 | non-institutional investors (bid amount upto ten lakh rupees) | 1,63,200 | 1,94,39,400 | 119.11 |
| 2.2(a) | corporates | - | 2,11,800 | - |
| 2.2(b) | individuals (ind category bidding for more than 2 lots ) | - | 1,90,27,200 | - |
| 2.2(c) | others | - | 2,00,400 | - |
| 3 | individual investors (ind category bidding for 2 lots) | 11,40,000 | 12,72,72,000 | 111.64 |
| 3(a) | price bids | - | 12,72,72,000 | - |
| 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 | 24,63,600 | 32,42,06,400 | 131.60 |
| gmp date | ipo price | gmp | Subscription | sub2 sauda rate | estimated listing price | estimated profit | last updated |
|---|---|---|---|---|---|---|---|
|
17/11/2025
|
204.00 | Rs. 88 down | - | 40100 | 292 (43.14) | Rs. 52800 | 17/11/2025, 4:00:00 pm |
|
16/11/2025
|
204.00 | Rs. 92 up | - | 42000 | 296 (45.1) | Rs. 55200 | 16/11/2025, 11:29:00 pm |
|
15/11/2025
|
204.00 | Rs. 88 up | - | 40100 | 292 (43.14) | Rs. 52800 | 15/11/2025, 11:34:00 pm |
|
14/11/2025
Allotment |
204.00 | Rs. 73 up | - | 33300 | 277 (35.78) | Rs. 43800 | 14/11/2025, 11:32:00 pm |
|
13/11/2025
Close |
204.00 | Rs. 51 no-change | - | 23300 | 255 (25) | Rs. 30600 | 13/11/2025, 11:33:00 pm |
|
12/11/2025
|
204.00 | Rs. 51 up | - | 23300 | 255 (25) | Rs. 30600 | 12/11/2025, 11:35:00 pm |
|
11/11/2025
Open |
204.00 | Rs. 36 up | - | 16400 | 240 (17.65) | Rs. 21600 | 11/11/2025, 11:30:00 pm |
|
10/11/2025
|
204.00 | Rs. 28 up | - | 12800 | 232 (13.73) | Rs. 16800 | 10/11/2025, 11:32:00 pm |
|
09/11/2025
|
204.00 | Rs. 25 no-change | - | 11400 | 229 (12.25) | Rs. 15000 | 9/11/2025, 11:36:00 pm |
|
08/11/2025
|
204.00 | Rs. 25 up | - | 11400 | 229 (12.25) | Rs. 15000 | 8/11/2025, 11:28:00 pm |
|
07/11/2025
|
204.00 | Rs. 20 up | - | 9100 | 224 (9.8) | Rs. 12000 | 7/11/2025, 11:33:00 pm |
|
06/11/2025
|
204.00 | Rs. 0 no-change | - | -- | 204 (0) | Rs. 0 | 6/11/2025, 11:29:00 pm |
|
05/11/2025
|
Rs. 0 no-change | - | -- | () | Rs. 0 | 5/11/2025, 8:10:00 am |