Integrity Infrabuild Developers Limited, a Gujarat-based Class-A civil contractor, has launched its Initial Public Offering (IPO) on the NSE SME platform. The IPO opened on May 13, 2025, and is set to close on May 15, 2025. The company aims to raise Rs 12 crore through this fixed-price issue, offering 12,00,000 equity shares at Rs 100 each.
Integrity Infrabuild Developers IPO Overview
Incorporated in 2017, Integrity Infrabuild Developers is an integrated civil contracting company registered as a Class-A contractor in Gujarat. It focuses on government infrastructure projects, including road, bridge, and building construction. The company executes projects directly for government and semi-government entities, ensuring full control over quality and timelines. Since FY 2021-22, it has completed 111 projects with a combined contract value of Rs 21,336.63 lakhs, including 103 road projects and 8 building constructions, without relying on subcontracting.
Integrity Infrabuild Developers IPO Details
Integrity Infrabuild Developers IPO is a fixed price IPO of Rs 12.00 crores. The issue is a complete fresh issue of Rs 12.00 crores. Aryaman Financial Services Limited is the book running lead manger of the Integrity Infrabuild Developers IPO, Link Intime India Private Ltd is the Registrar for the issue. Market Maker for Integrity Infrabuild Developers IPO is Aryaman Capital Markets Limited.
| Issue Type | Fixed Price IPO |
| Face Value | Rs 10 per share |
| Issue Price | Rs 100 per share |
| Lot Size | 1200 shares per lot |
| Issue Size | Rs 12.00 crore |
| Fresh Issue | Rs 12.00 crore |
| Offer for Sale (OFS) | Rs 0 crore |
| Listing at | NSE SME |
| Market Capitalization | Rs 43.00 cr |
| Book Running Lead Managers | Aryaman Financial Services Limited |
| Registrar | Link Intime India Private Ltd |
| Market Maker | Aryaman Capital Markets Limited |
Integrity Infrabuild Developers IPO Timeline
Integrity Infrabuild Developers IPO opens on 13th May 2025 and Closes on 15th May 2025. Find Integrity Infrabuild Developers IPO tentative dates below.
| IPO Open Date | 13-May-2025 (Tuesday) |
| IPO Close Date | 15-May-2025 (Thursday) |
| Allotment | 16-May-2025 (Friday) |
| Initiation of Refunds | 19-May-2025 (Monday) |
| Demat Credit of Shares | 19-May-2025 (Monday) |
| Listing Date | 20-May-2025 (Tuesday) |
| Cut off time for UPI mandate confirmation | 15-May-2025 at 5PM |
Integrity Infrabuild Developers IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table shows the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1200 | Rs 1,20,000 |
| Retail (Maximum) | 1 | 1200 | Rs 1,20,000 |
| HNI (Minimum) | 2 | 2400 | Rs 2,40,000 |
Integrity Infrabuild Developers IPO Objectives
The proceeds from the Integrity Infrabuild Developers IPO will be utilized for following purposes:
| Purpose | Amount (in Rs) | Percentage |
|---|---|---|
| Purchase of machinery and equipment | 5.03 Crore | 41.92% |
| Working capital requirements | 3.64 Crore | 30.33% |
| Issue related expenses | 0.93 Crore | 7.75% |
| General corporate purposes | 2.40 Crore | 20% |
Integrity Infrabuild Developers Financial Performance
Find Integrity Infrabuild Developers IPO last 3 years financial details below.
| Financials | 31-Dec-24 (Crores) | 31-Mar-24 (Crores) | 31-Mar-23 (Crores) |
|---|---|---|---|
| REVENUE | 68.97 | 64.63 | 45.23 |
| ASSETS | 33.35 | 20.68 | 15.25 |
| NET WORTH | 4.56 | 3.10 | 1.78 |
| TOTAL DEBT | 12.86 | 11.17 | 5.22 |
| PAT | 1.94 | 0.95 | 0.29 |
Integrity Infrabuild Developers IPO Strengths and Risks
Strengths:
- Focused on roads, buildings, and bridge construction.
- Strong project management capabilities with industry experience.
- Visible growth through a robust order book.
- Strong financial performance and stability.
- Technical capabilities and resources for efficient project execution.
Risks:
- Geographic concentration risk with heavy reliance on Gujarat projects.
- Revenue heavily dependent on a few major clients.
- Project delays, modifications, or cancellations impacting financial results.
- High competition from established regional and national players.
- Economic and regulatory changes affecting project viability.
- Client payment delays can strain cash flow and liquidity.
- Vulnerability to local political and economic instability.
Integrity Infrabuild IPO Grey Market Premium (GMP)
As of the latest reports, the IPO is trading at par in the grey market, indicating no premium or discount over the issue price.
Integrity Infrabuild Developers IPO Review: Avoid
Disclaimer: This blog’s content is intended solely for informational and educational purpose only. Before making any investment decisions, it is recommended that investors consult with a certified financial advisor.