Swastika Infra IPO GMP today is Rs 6. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
SWASTIKAIN
Swastika Infra IPO GMP & Allotment
Swastika Infra is an engineering, procurement, and construction company that specializes in power distribution infrastructure projects on a turnkey basis and trades in electrical products. Its primary business activity involves executing power infrastructure contracts, including underground cabling, gas-insulated and air-insulated substations, rural and urban electrification, and street lighting system installations. The company generates revenue by delivering end-to-end EPC services—from design, procurement, and supply to erection, testing, and commissioning—and through the sale of electrical products such as cables and circuit breakers. Serving state electricity distribution companies, central government-backed initiatives, and multilateral bank-funded developments, it operates across multiple Indian states. Supported by internal operational and project execution capabilities, the company focuses on securing government utility contracts while utilizing bulk procurement strategies to manage material requirements for its power projects.
- IPO Price Band
- ₹175.00 - ₹185.00
- Lot Size
- 81 Shares
- Bidding Closes
- 25 Sept 2026
- Listing Date
- 30 Sept 2026
Quick Answer & Highlights
Swastika Infra IPO GMP Today & Key Takeaways
Last updated: 30 Sept 2026
Swastika Infra IPO officially listed on 30 Sept 2026 at Rs 200.00, delivering a +8.11% listing gain compared to its issue price of Rs 160.88. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹6.
Swastika Infra IPO officially listed on 30 Sept 2026 at ₹200.00, delivering a +8.11% listing gain compared to its issue price of ₹160.88. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹6.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹6 | +3.24% vs upper band (30 Sept 2026) |
| Est. Listing Price | ₹200.00 | +8.11% Est. Listing Gain |
| Price Band | ₹175.00 - ₹185.00 | Mainboard IPO |
| Retail Minimum Investment | ₹14,985 | 1 Lot (81 Shares) |
| Bidding Window | 23 Sept 2026 – 25 Sept 2026 | Listed |
| Allotment & Listing Dates | Allotment: 28 Sept 2026 | Listing: 30 Sept 2026 |
Current GMP Status
₹6
+3.24% vs upper band
Est. Listing Gain
+8.11%
Last Trend
30 Sept 2026
Listing Price
₹200.00
Retail Entry
₹14,985
IPO Details
Complete IPO information
| IPO Open Date | 23 Sept 2026 |
|---|---|
| IPO Close Date | 25 Sept 2026 |
| IPO Price Band | ₹175.00 - ₹185.00 |
| Lot Size | 81 Shares |
| Current GMP | ₹6 |
| Estimated Listing Gain | +8.11% |
| Issue Size | Approx ₹160.88 Cr |
| Fresh Issue | Approx ₹128.50 Cr |
| Issue Type | Mainboard |
| IPO Listing | NSE, BSE |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 7.6x |
| Minimum Investment | ₹14,985 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 17.89 | 57.56 | 3.22xx |
| NII | 13.64 | 252.34 | 18.50xx |
| Retail | 31.83 | 171.61 | 5.39xx |
| Overall Subscription | 63.35 | 481.5 | 7.60xx |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Swastika Infra is priced at ₹185 per share. With a minimum lot size of 81 shares, a retail investor applying for one lot would need approximately ₹14,985 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Swastika Infra stands at ₹6, implying an estimated listing gain of around 3.24% over the issue price if it holds until listing. This is up ₹1 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Swastika Infra's IPO was subscribed 7.6x overall, with a category-wise breakdown of Retail 5.39x, QIB 3.22x, NII 18.5x.
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
23 Sept 2026
✓
Bidding Closes
25 Sept 2026
✓
Allotment
28 Sept 2026
✓
Listing
30 Sept 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 23 Sept 2026 | Completed |
| Bidding Closes | 25 Sept 2026 | Completed |
| Allotment | 28 Sept 2026 | Completed |
| Listing | 30 Sept 2026 | Completed |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 30 Sept 2026 | ₹7.00 | +₹1.00 | 3.78% |
| 29 Sept 2026 | ₹6.00 | +₹1.00 | 3.24% |
| 28 Sept 2026 | ₹5.00 | - | 2.43% |
| 26 Sept 2026 | ₹5.00 | -₹3.00 | 2.70% |
| 25 Sept 2026 | ₹8.00 | - | 4.32% |
| 24 Sept 2026 | ₹8.00 | - | 4.32% |
| 23 Sept 2026 | ₹8.00 | - | 4.32% |
| 22 Sept 2026 | ₹8.00 | +₹5.00 | 4.32% |
| 21 Sept 2026 | ₹3.00 | - | 1.62% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 81 | ₹14,985 |
| Retail Maximum | 13 Lot | 1,053 | ₹1,94,805 |
| S-HNI Minimum | 14 Lot | 1,134 | ₹2,09,790 |
| S-HNI Maximum | 66 Lot | 5,346 | ₹9,89,010 |
| B-HNI Minimum | 67 Lot | 5,427 | ₹10,03,995 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
Swastika Infra IPO Reservation
The Swastika Infra IPO reservation is divided across qualified institutional buyers, non-institutional investors and retail investors. QIB investors are allocated 50% of the shares offered, while NII and retail investors are offered 15% and 35%, respectively.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The share quantities are currently not specified, while the category-wise reservation percentages are provided above.
Analysis
Swastika Infra IPO Anchor Investors
The anchor investor bidding for the Swastika Infra IPO is scheduled ahead of the public issue. The anchor allocation details provide information on the bidding date, shares offered and applicable lock-in periods for the allotted shares.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 22, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – 50% Shares (90 Days) | 2026 |
Note: The final anchor allocation, number of shares and anchor issue size will be updated once the relevant details are available.
Analysis
Swastika Infra IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 23 Sept 2026 |
| IPO Close Date | 25 Sept 2026 |
| Basis of Allotment | 28 Sept 2026 |
| Refunds | 29 Sept 2026 |
| Credit to Demat Account | 29 Sept 2026 |
| IPO Listing Date | 30 Sept 2026 |
Note: The timeline for Swastika Infra IPO is tentative and subject to change.
Analysis
Swastika Infra IPO Promoters and Holding Pattern
The Swastika Infra promoter group includes Babulal Gupta, Vinay Gupta, Ruchira Gupta, Biren Parnami, Manoj Modi and Vatsalya Gupta. The promoter and promoter group holding is stated at 76.51% before the IPO and is expected to stand at 57.41% after the issue, while the remaining shareholding will be classified under others.
Promoters: Babulal Gupta, Vinay Gupta, Ruchira Gupta, Biren Parnami, Manoj Modi and Vatsalya Gupta.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | – | 76.51% | – | 57.41% |
| Others* | – | 23.49% | – | 42.59% |
| Total | – | 100% | – | 100% |
Note: Share quantities are shown as provided. The percentage holding reflects the stated pre-IPO and post-IPO ownership structure.
Analysis
Swastika Infra Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Funding incremental working capital requirements of the Company | 90 (70.04%) |
| General Corporate Purposes | 38.5(29.96%) |
Note: Objectives are as specified in the DRHP/RHP documents of Swastika Infra.
Analysis
About Swastika Infra IPO
Swastika Infra Limited was founded in 1969 and made a reputation in the Power Distribution EPC infrastructure industry. After completing large-scale power distribution infrastructure projects, it transitioned into the power EPC business in 2011. In 2019, they transferred their foundation into a company, as they are innovative and excellent in their work.
Due to 12 years of expertise in EPC, they are advanced in the conceptualization, design, supply, installation, testing, and commissioning of power projects on a turnkey basis. Their team of 100 employees, including 70 skilled professionals, is the foundation of its operations. Further, they are committed to shaping a strong future through sustainable and efficient energy solutions.
Analysis
Swastika Infra Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 211.33 Cr. | 192.50 Cr. | 13.98 Cr. | 143.26 Cr. |
| 2025 | 352.60 Cr. | 315.58 Cr. | 27.46 Cr. | 258.54 Cr. |
| 2026 | 505.57 Cr. | 450.23 Cr. | 41.43 Cr. | 412.24 Cr. |
Note: Financial numbers for Swastika Infra are in ₹ Crores unless stated otherwise.
Analysis
Swastika Infra Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 35.44% |
| ROCE | 25.76% |
| EBITDA Margin | 14.07% |
| PAT Margin | 8.23% |
| Debt to Equity Ratio | 0.73 |
| Earning Per Share (EPS) | 15.70 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 35.44% |
| Net Asset Value (NAV) | 57.69 |
Note: Valuation KPIs for Swastika Infra are computed for FY2026.
Analysis
Swastika Infra IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Rajesh Power Services Limited | 79.5 | 10.1 | 35.3% | 225.6 | – Cr. |
| Vikran Engineering Limited | 4.1 | 14.6 | 7.4% | 48.0 | – Cr. |
Note: Peer group comparisons for Swastika Infra are sourced from DRHP filings.
Analysis
Swastika Infra IPO Lead Managers aka Merchant Bankers
- Srujan Alpha Capital Advisors LLP
- PhillipCapita
Comparison
Compare Swastika Infra IPO with similar IPOs
FAQ
Swastika Infra IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 6 and an issue price of Rs 185, the estimated listing price for Swastika Infra IPO is Rs 191.00 (approx 3.24% listing gain). Actual listing price is determined by market demand on the listing day.
Swastika Infra IPO price band is Rs 175.00 to Rs 185.00. Check the latest issue price, lot size and GMP together before applying.
Swastika Infra IPO open date is 23 Sept 2026, close date is 25 Sept 2026, and listing date is 30 Sept 2026.
Swastika Infra IPO lot size is 81 shares. The minimum retail investment is Rs 14,985.
Swastika Infra is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Swastika Infra IPO subscription status currently shows Retail 5.39x, QIB 3.22x, NII 18.5x, Overall 7.6x.
Swastika Infra is an engineering, procurement, and construction company that specializes in power distribution infrastructure projects on a turnkey basis and trades in electrical products. Its primary business activity involves executing power infrastructure contracts, including underground cabling, gas-insulated and air-insulated substations, rural and urban electrification, and street lighting system installations. The company generates revenue by delivering end-to-end EPC services—from design, procurement, and supply to erection, testing, and commissioning—and through the sale of electrical products such as cables and circuit breakers. Serving state electricity distribution companies, central government-backed initiatives, and multilateral bank-funded developments, it operates across multiple Indian states. Supported by internal operational and project execution capabilities, the company focuses on securing government utility contracts while utilizing bulk procurement strategies to manage material requirements for its power projects.
Swastika Infra IPO issue size is TBA and the expected allotment date is 28 Sept 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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