The much-anticipated Integrity Infrabuild Developers IPO has officially opened for subscription, starting on May 13 and running until May 15. Set at a price of ₹100 per equity share with a nominal value of ₹10, this offering allows investors to bid for a minimum of 1,200 shares, with further increments of 1,200 shares thereafter.
Overview of Integrity Infrabuild Developers
Founded in 2017, Integrity Infrabuild Developers Limited is a Class-A civil contractor recognized by the Government of Gujarat. The company specializes in undertaking construction projects for state government initiatives and frequently collaborates with subcontractors to enhance its foothold within the competitive construction sector in Gujarat.
Financial Highlights and Current Contracts
As of March 31, 2025, the company boasts active contracts totaling ₹20,598 lakhs. Out of this amount, ₹4,291 lakhs has already been completed, leaving ₹16,307 lakhs still in progress. Notably, industry competitors include Udayshivakumar Infra Limited with a P/E ratio of 6.82 and V R Infraspace Limited, which has a much higher P/E ratio of 67.04.
Subscription Status and Market Response
As the IPO moves into its first day, the subscription status currently stands at 20%. Specifically, the retail segment has seen a 35% subscription rate, while the non-institutional investor portion is at 6%. By 6 PM, bids for 240,000 shares had been received against the 1,200,000 shares available.
Key IPO Details
The Integrity Infrabuild Developers IPO features a fresh issue of 1,200,000 equity shares aimed at raising an estimated ₹12 crore. Importantly, there is no offer for sale (OFS) component in this IPO. The funds raised will be directed towards:
- Acquiring new machinery and equipment
- Fulfilling working capital needs
- Supporting general corporate initiatives
The book-running lead manager for this IPO is Aryaman Financial Services Limited, while Link Intime India Private Ltd manages the issue as the registrar. Additionally, Aryaman Capital Markets Limited is designated as the market maker.
Current Grey Market Premium
As of today, the grey market premium (GMP) for the Integrity Infrabuild Developers IPO stands at ₹0, indicating that shares are trading at the issue price of ₹100 with no premium or discount in the grey market, according to Investorgain.com. The GMP reflects the market’s sentiment regarding the IPO price and investor confidence.
This IPO presents a unique opportunity for investors looking to engage with a growing player in the construction industry. As the subscription period progresses, it will be interesting to see how the market responds to this latest offering.
