Swastika Infra IPO
Swastika Infra IPO is a mainboard IPO raising ₹161 Cr at ₹175 – ₹185 a share. It listed on 30 Sept 2026 at ₹200, +8.1% against its issue price of ₹185, and trades at ₹195 today (+5.6% since issue). It was subscribed 7.60× in total.
7.6 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs185. Checked: exchange issue size Rs161 Cr vs derived Rs161.4 Cr (0.2% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 4% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Swastika Infra Limited | — | 35.4% | ₹15.7 |
| Rajesh Power Services Limited | 10.1× | 35.3% | ₹79.5 |
| Vikran Engineering Limited | 14.6× | 7.4% | ₹4.1 |
| This issue | 11.8× | 35.44% | ₹15.7 |
derived: cut-off price Rs185 / stated EPS Rs15.7 (Fiscal 2026 diluted EPS, restated (Basic and Diluted EPS are based on the Restated Financial Information)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.