SME IPO: Suntech Infra sets issue price band at Rs 81-86/share; to open on Jun 25

New Delhi, Jun 24 (PTI) Suntech Infra Solutions, a B2B construction firm, on Tuesday said it has fixed a price band at Rs 81-86 per share for its Rs 44.39 crore initial public offering (IPO).

The company's public issue will open for subscription on June 25 and conclude on June 27. The shares will be listed on the NSE's SME platform, it said in a statement.

The IPO is a mix of fresh issue of up to 39.74 lakh shares aggregating to Rs 34.18 crore and an offer for sale of 11.87 lakh shares valued at Rs 10.21 crore.

Proceeds from the fresh issue will be utilised for funding working capital requirements, and capital expenditure towards the purchase of construction equipment for civil construction business and general corporate purposes.

Suntech Infra Solutions provides civil construction services, including foundation and structural works, through direct contracting, sub-contracting, and equipment rental.

The company served public and private clients, providing solutions to various industries, including power, oil & gas, steel, cement and renewable energy.

For the fiscal ended December 31, 2024, the company reported a profit after tax of Rs 10.3 crore and Rs 89.72 crore in revenue from operations.

GYR Capital Advisors is the book-running lead manager, while Mas Services is the registrar for the issue. PTI HG HG BAL BAL