Sugs Lloyd fixes IPO price band at Rs 117-123/share; public issue to open on Aug 29

New Delhi, Aug 26 (PTI) Integrated EPC player Sugs Lloyd Ltd on Tuesday said it has fixed a price band of Rs 117-123 per share for the initial public offer, which will open for public subscription on August 29.

The Rs 85.6-crore initial public offering (IPO) will conclude on September 2, and the shares of Sugs Lloyd will be listed on the BSE's SME platform, the company said in a statement.

The IPO is entirely a fresh issue of up to 69.64 lakh equity shares with a face value of Rs 10 each. At the upper end of the price band, the company is expected to raise Rs 85.66 crore.

Proceeds from the fresh issue to the tune of Rs 64 crore will be utilised to meet working capital requirements, while the balance will go towards general corporate purposes and issue expenses, according to the red herring prospectus.

Incorporated in 2009, Sugs Lloyd is engaged in electrical transmission and distribution, solar and civil EPC projects.

Its services include development of transmission and distribution infrastructure, construction of substations, and upgrading and modification of power systems. The company also offers outage management solutions to distribution companies.

In FY25, New Delhi-based Sugs Lloyd reported revenue from operations of Rs 176.20 crore, a growth of over 171 per cent from Rs 65.12 crore in FY24. Its net profit rose to Rs 16.72 crore from Rs 8.70 crore in the previous fiscal.

3Dimension Capital Services is the sole book-running lead manager, while Kfin Technologies is the registrar for the IPO. PTI HG HG SHW