Skytech Infinite Platform IPO Day 3: Total at 0.74x, Retail leads - Check details
Skytech Infinite Platform IPO Day 3 update shows total subscription at 0.74x. Retail leads with 1.22x, while QIBs are at 0x. NII participation is modest with bHNI at 0.40x. The issue closes on August 18, 2026, with listing scheduled for August 21, 2026.
*this image is generated using AI for illustrative purposes only.
Skytech Infinite Platform Limited’s IPO continues its subscription window on Day 3, with the issue reaching a cumulative subscription of 0.74x as of the latest update on August 17, 2026. Retail investors are the primary drivers of interest, having subscribed 1.22x, significantly outpacing other categories. Qualified Institutional Buyers (QIBs) have yet to participate, remaining at 0x. The Non-Institutional Investor (NII) category shows modest engagement, with bHNI at 0.40x and sHNI at 0.21x.
Subscription Status
The IPO opened on August 14, 2026, and is scheduled to close on August 18, 2026. Below is the detailed subscription progress from Day 1 to Day 3.
| 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 | 0.23x | 0.20x | 0.66x | 0.43x |
| Day 3 | 17-08-2026 | 0.00x | 0.40x | 0.21x | 1.22x | 0.74x |
Intra-day Timeline (Day 3 Snapshot):
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.38x | 1.14x | 0.70x |
| 06:45 | 0.00x | 0.40x | 1.22x | 0.74x |
Note: The intra-day data reflects the cumulative position including subsequent updates.
About the Company
Skytech Infinite Platform Limited specializes in providing comprehensive turnkey automation solutions, encompassing Design, Engineering, Supply, Installation & Commissioning (I&C), and Maintenance of various types of Control Panels. Founded in 2009, the company manufactures Automation Control Panels integrating PLCs, drive systems, switchgear, and sensors to streamline industrial automation processes. It serves diverse sectors such as Power, Water, Energy, Machine Tools, Infrastructure, and Process Industries. 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 has also increased significantly.
| Particulars | FY 2026 (₹ crores) | FY 2025 (₹ crores) | FY 2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 51.65 | 45.14 | 44.13 |
| Profit After Tax | 4.20 | 3.71 | 1.35 |
| Total Equity | 19.02 | 14.81 | 11.10 |
Revenue grew from ₹44.13 crores in FY2024 to ₹51.65 crores in FY2026. PAT improved substantially to ₹4.20 crores in FY2026 from ₹1.35 crores in FY2024.
Objects of the Issue
The proceeds from the IPO will be utilized for the following purposes:
- Working Capital Requirements: ₹16.81 crores for procuring raw materials, maintaining inventory, and managing sundry debtors.
- General Corporate Purposes: Funds for strategic initiatives, partnerships, brand building, R&D, and contingencies.
- Issue Related Expenses: Meeting management fees, underwriting fees, legal advisor fees, and listing fees.
Risk Factors
Investors should consider the following key risks:
- Customer Concentration: Top ten customers contributed 47.23% of revenue in FY2026; loss of these clients could impact profitability.
- Working Capital Pressure: High trade receivables of ₹2,771.24 lakhs and inventories of ₹866.31 lakhs as of March 31, 2026, pose liquidity risks.
- Negative Operating Cash Flow: The company reported negative operating cash flow of ₹165.61 lakhs in FY2026 due to higher inventories and receivables.
Key Dates
- IPO Open Date: 14-08-2026
- IPO Close Date: 18-08-2026
- Allotment Date: 19-08-2026
- Listing Date: 21-08-2026
Will the complete absence of QIB participation signal underlying concerns about Skytech's valuation or business model, potentially impacting listing day volatility?
Given the negative operating cash flow and high receivables, how effectively will the ₹16.81 crores allocated for working capital alleviate liquidity pressures in the short term?
How might the company's heavy reliance on its top ten customers (47.23% of revenue) affect its resilience against potential contract losses post-listing?
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