Srinibas Pradhan Constructions IPO Review 2026 – Investor Information & Updates
Latest Grey Market Premium & IPO Details
Srinibas Pradhan Constructions IPO 2026 – Key Info & Highlights
Srinibas Pradhan Constructions Ltd SME IPO is opening for subscription from March 6 to March 10, 2026 on the NSE SME platform. The IPO aims to raise ₹19.30 Crore, including a ₹15.77 Cr fresh issue and a ₹3.53 Cr offer for sale.
Each share has a face value of ₹10, with a price band of ₹91–₹98. Retail investors can apply with a minimum of 2 lots (1,200 shares per lot), requiring a minimum investment of around ₹2,35,200. The tentative listing date is March 13, 2026.
This IPO provides investors a chance to participate in the company’s growth in the civil and infrastructure construction sector.
📌 IPO Details
| Company Name | Srinibas Pradhan Constructions IPO |
|---|---|
| Sector / Industry | Infrastructure & Construction |
| IPO Open Date | 06-03-2026 |
| IPO Close Date | 10-03-2026 |
| Allotment Date | 11-03-2026 |
| Refund Date | 12-03-2026 |
| Share Credit Date | 12-03-2026 |
| Listing Date | 13-03-2026 |
| Price Band | ₹91 - ₹98 |
| Lot Size | 1200 Shares |
| Min Investment | ₹2,35,200 |
| Total Issue Size | ₹20.32 Cr |
| Reserved for Market Maker | ₹1.02 Cr |
| Net Issue Size | ₹19.30 Cr |
| Fresh Issue | ₹15.77 Cr |
| OFS | ₹3.53 Cr |
| IPO Listing At | NSE SME |
| DRHP | View DRHP |
| RHP | View RHP |
| Issue Type | Book Build Issue |
| Face Value | ₹10 Per Equity Share |
| Promoter Holding Pre IPO | 85.27 % |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 46.99% |
| QIB (Qualified Institutional Buyers) | 0.93% |
| HNI (High Net Worth Individuals) | 47.05% |
| Reserved for Market Maker | 5.03% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 13-03-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 13-03-2026 09:43 |
| 12-03-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 12-03-2026 23:20 |
| 11-03-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 11-03-2026 23:20 |
📝 About Srinibas Pradhan Constructions
Srinibas Pradhan Constructions Ltd. (SPCL) is an infrastructure and utilities company with roots dating back to 2001, when it began as a small proprietorship serving local urban bodies and block development departments in Odisha. Formally incorporated as a private limited entity in September 2020 and converted to public limited company status in February 2024, the company has evolved into a multi-sector infrastructure player executing projects across transportation, energy, and industrial development.
The company's core operations span three main areas: Roads and Highways development using quality construction materials like aggregates, sand, bitumen, and cement to ensure durability; Bridges and Steel Structures, including high-level bridge construction and steel fabrication for industrial facilities; and Civil Construction covering foundations, multi-story buildings, manufacturing units, and other industrial infrastructure. These projects are secured through competitive tendering processes with clients including state government departments, central and state PSUs, and private sector organizations.
What sets SPCL apart is its execution breadth. The company handles irrigation and canal systems alongside traditional infrastructure work, maintaining a portfolio that spans rural roads, major district roads, urban networks, industrial development, and other civil works across multiple Odisha districts. This diversification reduces dependency on any single project type while providing steady revenue streams.
Led by promoters Mr. Srinibas Pradhan and Mr. Ramakanta Pradhan with decades of infrastructure sector experience, the company has built a solid reputation for reliable execution and quality delivery. As of February 15, 2026, SPCL reported an order book of Rs. 184.07 crore, providing clear visibility into the near-term execution pipeline and business continuity.
The company operates with strong backward integration, owning equipment and resources that ensure operational control over project execution, cost efficiency, and margin stability. This B2G (Business-to-Government) model, combined with proven execution capabilities and a consistent project pipeline, positions the company well within Odisha's growing infrastructure development landscape.
Srinibas Pradhan Constructions Revised Financials
Financial Performance & Assets Overview (Last 4 Periods)
| Period Ended | Total Income | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing | Assets |
|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 45.63 | +4.11 | 7.64 | 22.01 | 15.87 | 17.17 | 56.67 |
| 31 Mar 2025 | 89.73 | +6.59 | 13.01 | 15.91 | 11.55 | 17.25 | 55.76 |
| 31 Mar 2024 | 35.27 | +3.55 | 5.58 | 7.72 | 3.57 | 1.88 | 20.83 |
| 31 Mar 2023 | 26.35 | +1.48 | 2.15 | 2.67 | 2.57 | 0.06 | 6.50 |
Note: Positive figures indicate profit, while negative figures indicate loss. All amounts are reported in ₹ Crore.
Srinibas Pradhan Constructions Ltd. – Objects of Issue
- ₹11.55 Cr – Working Capital Requirements – A major portion of the IPO proceeds will be utilized to strengthen the company’s working capital base, ensuring smooth execution of ongoing and upcoming infrastructure projects.
- ₹1.00 Cr – Repayment of Borrowings – Part of the funds will be used to repay a portion of existing loans, which will help in reducing finance costs and improving the overall financial position of the company.
- Balance Amount – General Corporate Purposes – The remaining funds will be deployed towards general corporate needs, including administrative expenses and strategic business growth initiatives.
- Total Issue Size – ₹12.55 Cr
Srinibas Pradhan Constructions Ltd. – Competitive Strengths
- Established Reputation – The company has successfully completed numerous government road and bridge projects in Odisha, earning trust through consistent on-time delivery and quality workmanship. This proven track record in executing complex infrastructure assignments gives the company a competitive edge when bidding for new government contracts.
- Experienced Workforce – The company employs skilled engineers, project managers, and site supervisors with deep knowledge of construction methodologies and Odisha's ground conditions. This technical expertise enables efficient project planning, better site management, and effective quality control during execution.
- Strong Backward Integration – By owning key equipment, machinery, and material sourcing channels, the company maintains direct control over project costs and execution timelines. This operational autonomy reduces dependency on external suppliers and helps maintain stable profit margins across projects.
- Diverse Project Portfolio – The company operates across roads, bridges, and industrial civil structures rather than relying on a single project category. This diversification provides revenue stability and reduces exposure to downturns in any one sector or project type.
Srinibas Pradhan Constructions Ltd. – Risk Factors
- Geographic Concentration Risk – The company's revenue streams are derived entirely from contracts with a limited number of entities in Odisha, exposing it to risks from economic and regulatory changes specific to the state. Adverse changes in central or state government policies could lead to contract foreclosure, termination, or restructuring.
- Key Customer Dependency – The company depends on certain key customers for its revenues. A decrease in revenues from them could materially and adversely affect business operations, cash flows, and financial condition.
- Promoter Dependency – The company depends on the knowledge and experience of its promoters, Ramakanta Pradhan and Srinibas Pradhan, for its growth.
- Project Execution Risk – Construction projects involve risks from unforeseen ground conditions, weather delays, labor cost inflation, and material price volatility. Cost overruns can impact margins and project delays may attract contractual penalties.
- Working Capital Requirements – The business requires significant upfront investment in equipment and materials. Government project payment delays create cash flow challenges and increase financing needs.
Company Information
Founded in: 25 September 2020
MD / CEO: Mr. Srinibas Pradhan
Address: C/O‑ Srinibas Pradhan, Near Chuakani, PO‑ Lamtibahal, Jharsuguda, Odisha – 768216, India
Website: https://www.srinibaspradhan.com/
Phone: +91‑6645‑251105
Email: cs@srinibaspradhan.com
IPO Quick Info
06 Mar 2026
10 Mar 2026
Upcoming
Lead Manager(s)
- Novus Capital Advisors Private Limited
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Frequently Asked Questions
Srinibas Pradhan Constructions IPO operates in the infrastructure and road construction sector. Investors should review its financial growth, order book strength, and debt levels before investing. As an SME IPO, it may offer growth potential but comes with higher risk and volatility.