Savy Infra & Logistics Limited IPO commenced on Monday, July 21 and will conclude on Wednesday, July 23. Savy Infra IPO price band has been set in range of ₹114 to ₹120 per equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,200 equity shares and in multiples of 1,200 shares thereafter.
Savy Infra and Logistics Limited is an engineering, procurement, and construction (EPC) firm that focuses on earthworks and foundation preparation for infrastructure initiatives, such as road development, embankments, sub-grade preparation, and surface paving. The firm provides demolition services, carefully dismantling structures to facilitate new projects.
The company utilizes an asset-light business model that offers specialized services by leasing trucks and drivers while overseeing the transportation execution.
Additionally, the company rents out advanced equipment like rock breakers and heavy excavators, using mechanical excavators for digging. Their services encompass shoring, strutting, side protection, slush removal, and the disposal of excavated materials.
The firm has successfully completed EPC and logistics projects in states including Gujarat, Maharashtra, Andhra Pradesh, Telangana, Madhya Pradesh, Chhattisgarh, Karnataka, and Odisha.
As per the red herring prospectus (RHP), the company’s listed peers are AVP Infracon Ltd (with a P/E of 14.08), Ganesh Infraworld Ltd (with a P/E of 14.34), and Active Infrastructure Ltd (with a P/E of 19.34).
Savy Infra IPO subscription status
Savy Infra IPO subscription status is 5.19 times on day 2, as per chittorgarh.com. The retail portion was subscribed 5.61 times, and NII portion was booked 3.86 times. Qualified Institutional Buyers (QIBs) portion received 5.79 times bids.
The company has received bids for 2,16,42,000 shares against 41,71,200 shares on offer on the second bidding day, at 12:19 IST, according to data on chittorgarh.com
The Savy Infra IPO subscription status was 3.29 times on the first bidding day.
Savy Infra IPO details
Savy Infra IPO consists of a fresh issue of 58,32,000 equity shares, aggregating to ₹69.98 crore, and there is no offer-for-sale (OFS) component.
The funds raised from the IPO will be used to meet working capital needs and for general corporate activities. Unistone Capital Private Limited is the book running lead manager for the issue, while Maashitla Securities Private Limited will serve as the registrar.
Tilak Mundhra, the Chairman and Managing Director of Savy Infra & Logistics Limited, stated that their forthcoming IPO represents a significant step in enhancing and broadening their operations. The capital gained will assist in fulfilling their working capital requirements and allow them to efficiently grow both the EPC and logistics sectors. In the EPC domain, they remain committed to their core infrastructure projects, including earthwork, road construction, and foundation preparation, areas where they have developed strong execution skills over time.
Savy Infra IPO GMP today
Savy Infra IPO GMP today is +21. This indicates Savy Infra share price was trading at a premium of ₹21 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Savy Infra share price was indicated at ₹141 apiece, which is 17.50% higher than the IPO price of ₹120.
According to the grey market activities from the last eight sessions, today’s IPO GMP is trending positively and anticipates a robust listing. The minimum GMP recorded is ₹0.00, while the maximum GMP reaches ₹21.00, as per experts from investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.’
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