Skytech Infinite Platform IPO Day 2 Live: Subscription ticks up to 0.19x

Skytech Infinite Platform IPO Day 2 Live: Subscription ticks up to 0.19x - Check analysts view and more

2 min read Updated on 14 Aug 2026, 12:22 PM

Reviewed by

Ritika DScanX News Team

AI Summary

Skytech Infinite Platform IPO subscription rose to 0.19x on Day 2, driven by a 141.7% jump in retail bids to 0.29x. QIB participation remains at 0x. The company reported FY26 revenue of ₹51.65 crores and PAT of ₹4.20 crores. The issue closes on August 18, 2026.

*this image is generated using AI for illustrative purposes only.

Skytech Infinite Platform Limited’s IPO gained traction on Day 2, with the total subscription ticking up to 0.19x by late afternoon. While Qualified Institutional Buyers (QIB) remained inactive at 0x, retail investors drove the momentum, with their subscription jumping 141.7% from the morning snapshot to reach 0.29x. Non-Institutional Investors (NII) also saw a significant surge, particularly in the bHNI category which jumped 450.0%. The issue remains undersubscribed overall as it heads into the latter half of its subscription window.

Subscription Status

The IPO opened on August 14, 2026, and will close on August 18, 2026. Here is the progression of subscriptions:

Day	Date	QIB	NII (bHNI)	NII (sHNI)	Retail	Total
Day 1	13-08-2026	0.00x	0.00x	0.00x	0.00x	0.00x
Day 2	14-08-2026	0.00x	0.11x	0.10x	0.29x	0.19x

Intra-day timeline on 14-08-2026

Time (IST)	QIB	NII (bHNI)	Retail	Total
05:45	0.00x	0.02x	0.12x	0.07x
06:45	0.00x	0.11x	0.29x	0.19x

Retail investors are currently leading the subscription process, accounting for the majority of the total bids. NII (bHNI) also showed strong intraday growth, jumping from 0.02x to 0.11x. QIB participation is yet to materialize.

About the Company

Skytech Infinite Platform Limited specializes in providing comprehensive turnkey automation solutions, including Design, Engineering, Supply, Installation & Commissioning (I&C), and Maintenance of Control Panels. Founded in 2009, the company manufactures Automation Control Panels integrating PLCs, drive systems, switchgear, and sensors. It serves sectors such as Power, Water, Energy, Machine Tools, Infrastructure, and Food & Beverages. The company is led by MD Paramashivam Deiveekan and CEO Suma Deiveekan.

Financial Highlights

The company has shown consistent revenue growth over the last three years. Total equity increased from ₹11.10 crores in FY24 to ₹19.02 crores in FY26.

Particulars	FY2024 (₹ crores)	FY2025 (₹ crores)	FY2026 (₹ crores)
Revenue from Operations	44.13	45.14	51.65
Profit After Tax (PAT)	1.35	3.71	4.20
Total Equity	11.10	14.81	19.02

Revenue grew from ₹44.13 crores in FY24 to ₹51.65 crores in FY26. PAT improved significantly from ₹1.35 crores to ₹4.20 crores in the same period.

Objects of the Issue

The proceeds from the IPO will be utilized for:

Working Capital Requirements: ₹16.81 crores for procuring raw materials, maintaining inventory, and managing sundry debtors.
General Corporate Purposes: Strategic initiatives, partnerships, R&D, and brand building.
Issue Related Expenses: Management fees, underwriting fees, legal advisor fees, and listing fees.

Risk Factors

Customer Concentration: Top ten customers contributed 47.23% of revenue in FY2026; loss of key clients could impact profitability.
Working Capital Pressure: High trade receivables (₹2,771.24 lakhs) and inventories (₹866.31 lakhs) pose liquidity risks.
Negative Operating Cash Flow: Reported negative operating cash flow of ₹165.61 lakhs in FY2026 due to higher inventories and receivables.

Offer Details

Price Band: ₹73.00000 - ₹77.00000
Issue Size: 350400 - 500000
Min Bid Qty: 3200
Open Date: 2026-08-14 10:00:00
Close Date: 2026-08-18 16:00:00

Will the continued absence of Qualified Institutional Buyers (QIBs) signal a lack of confidence in Skytech's valuation or sector outlook, potentially leading to an IPO allotment cancellation?

How might the company's high customer concentration (47.23% from top ten clients) impact its long-term revenue stability and attractiveness to institutional investors post-listing?

Given the negative operating cash flow in FY26, will the ₹16.81 crores allocated for working capital be sufficient to resolve liquidity pressures and reduce trade receivables?