Srinibas Pradhan Constructions IPO Lists On NSE SME With ₹20.32 Crore Issue Size

The Bhubaneswar-based construction company, engaged in infrastructure and civil works, completed its IPO bidding between March 6–10. The issue comprised a fresh allotment of shares worth ₹16.79 crore and an offer-for-sale of ₹3.53 crore. The allotment was finalized on March 11, with shares credited to investors ahead of today’s listing.

Subscription And Market Sentiment
The IPO was subscribed 1.13 times overall, with retail participation at 0.69 times, non-institutional investors at 1.57 times, and qualified institutional buyers at 1.13 times. GMP signals remained muted, last recorded at ₹0, suggesting limited speculative interest.

Listing Expectations
Shares are expected to list near ₹98, with early trades likely to hover around the issue price. Analysts note that while fundamentals of the company are stable, subdued retail demand and weak grey market activity may cap listing gains.

Key Highlights

• IPO size: ₹20.32 crore, price band ₹91–₹98 per share
• Subscription: 1.13x overall, retail 0.69x, NII 1.57x, QIB 1.13x
• GMP last recorded at ₹0, indicating flat debut expectations
• Listing date: March 13, 2026, on NSE SME platform
• Company specializes in infrastructure and civil construction projects

Sources: Chittorgarh, IPO Watch, Economic Times