Current Infraprojects Launches Rs 41.80 Crore IPO with Strong Grey Market Premium
Current Infraprojects, an EPC company, has opened its IPO to raise Rs 41.80 crore. The offering consists of 52.25 lakh fresh shares priced between Rs 76-80 per share. The IPO opened on August 24 and will close on August 29, with listing on the NSE SME platform scheduled for September 3. The company has already raised Rs 11.62 crore from anchor investors. Current Infraprojects, founded in 2013, operates in solar power, water infrastructure, and civil contracts across 12 Indian states. The company reported revenue of Rs 91.33 crore and profit of Rs 9.45 crore in the most recent fiscal year. IPO proceeds will be used for a solar project investment, working capital, and general corporate purposes.
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Current Infraprojects, an established EPC company, has opened its Initial Public Offering (IPO) to raise Rs 41.80 crore, attracting significant investor interest with a notable grey market premium.
IPO Details
The company is offering 52.25 lakh fresh shares at a price band of Rs 76-80 per share. The IPO opened on August 24 and will close on August 29, with the share allotment expected to take place on September 1. The shares are slated to list on the NSE SME platform on September 3.
Strong Market Response
Reflecting robust investor enthusiasm, the grey market premium for Current Infraprojects stands at an impressive 54%, indicating positive sentiment towards the offering.
Anchor Investment
Prior to the public offering, the company successfully raised Rs 11.62 crore from anchor investors, who subscribed to 14.52 lakh shares. This pre-IPO placement demonstrates institutional confidence in the company's prospects.
Company Overview
Founded in 2013, Current Infraprojects has established a strong presence across 12 Indian states. The company specializes in three key sectors:
- Solar power
- Water infrastructure
- Civil contracts
Over the years, Current Infraprojects has successfully executed projects worth over Rs 2,320 crore, showcasing its operational capabilities and market position.
Financial Performance
For the most recent fiscal year, Current Infraprojects reported:
| Financial Metric | Amount (in Rs crore) |
|---|---|
| Revenue | 91.33 |
| Profit | 9.45 |
Utilization of IPO Proceeds
The company has outlined clear objectives for the funds raised through the IPO:
- Rs 5.85 crore will be invested in its subsidiary, Current Infra Dhanbad Solar, for an 1,800 KW solar project at IIT Dhanbad.
- Rs 30 crore is allocated for working capital requirements.
- The remaining funds will be used for general corporate purposes.
This strategic allocation of funds aims to support the company's growth initiatives and strengthen its financial position.
As Current Infraprojects embarks on this new chapter as a publicly traded entity, investors and industry observers will be keenly watching its performance in the coming months.
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