Active Infrastructures, a civil construction company, launched its ₹77.83 crore public issue on March 21, offering 43 lakh new shares.
The IPO was subscribed by only 2% on its first day, with two more days left for subscription.
The issue will close on March 25, with allotments set to be finalized on March 26, and shares will be listed on the NSE SME on March 28, 2025.
The price band for the IPO is ₹178-181 per share, with a lot size of 600 shares.
Kreo Capital Private Limited is the book running lead manager, Bigshare Services Pvt Ltd is the registrar, and Badjate Stock and Shares Pvt Ltd is the market maker for the issue.
Active Infrastructures specializes in infrastructure projects, including roads, bridges, water supply systems, and irrigation.
It also constructs commercial spaces like office complexes, retail centers, exhibition halls, and educational institutions.
The company is promoted by Sunil Gyanchand Raisoni, Shreyas Sunil Raisoni, Shraddha Infraprojects, and Ryan Diagnostic Private Limited.
Use of IPO Funds
The funds raised from the IPO will be used to meet working capital needs, repay debt, purchase construction equipment, and for general corporate purposes.
The company has already raised ₹4.43 crore from anchor investors before the IPO opening.
In FY 2024, Active Infrastructures reported a revenue of ₹97.43 crore, an increase from ₹89.59 crore in the previous year.
Its net profit grew to ₹10.45 crore, up from ₹9.87 crore in FY 2023.
For the period from April to September 2024, the company recorded a revenue of ₹33.9 crore, a net profit of ₹5.55 crore, and borrowings amounting to ₹56.09 crore.
