Integrity Infrabuild Developers IPO listing: Shares of Integrity Infrabuild Developers IPO made a flat debut on the bourses on Tuesday, May 19, as they listed at ₹100.80 on NSE SME, a premium of just 0.8 percent to the issue price of ₹100.
The SME IPO, valued at 12 crore, was open for subscription from May 13 to May 15. The public offer was priced at ₹100 per share.
The IPO concluded on a subdued note, receiving bids amounting to 2.17 times the shares on offer over the three-day bidding period. A total of 24.61 lakh shares were bid for, compared to the 11.32 lakh shares available. The retail investor portion was subscribed 2.26 times, while the non-institutional investor (NII) category saw a subscription of 2.09 times.
About the IPO
The Integrity Infrabuild IPO was a completely fresh issue comprising 12 lakh shares, with no offer-for-sale component. The minimum application size was set at 1,200 shares, requiring a minimum investment of ₹1.20 lakh from retail investors.
Integrity Infrabuild Developers intended to deploy the proceeds from the public issue towards the purchase of machinery and equipment, meeting working capital needs, and for general corporate purposes.
Aryaman Financial Services Limited acted as the book-running lead manager for the IPO, while Link Intime India Private Ltd served as the registrar. Aryaman Capital Markets Limited was appointed as the market maker for the issue.
About the Company
Established in 2017, Integrity Infrabuild Developers Limited operates as a Class-A civil contractor registered with the Government of Gujarat. The company focuses primarily on executing construction projects for various government departments across the state and also undertakes subcontracted assignments to expand its footprint in Gujarat’s infrastructure landscape.
As of March 31, 2025, Integrity Infrabuild had a total project portfolio valued at ₹20,598 lakh. Of this, projects worth ₹4,291 lakh had been completed, while the remaining ₹16,307 lakh continued to form part of its active order book.
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