Sugs Lloyd, a company specializing in electrical transmission, distribution, solar, and civil EPC projects, has concluded its Initial Public Offering (IPO) on a high note, achieving an impressive 3.23 times oversubscription. The IPO, which was priced at Rs 117-123 per share, garnered bids worth over Rs 246.74 crore, signaling strong investor interest in the company's offerings.

Subscription Details

The IPO saw robust demand across various investor categories:

IPO Structure and Utilization of Funds

The IPO consisted entirely of a fresh issue of up to 69.64 lakh equity shares. Sugs Lloyd has outlined clear plans for the utilization of the funds raised:

• Rs 64 crore will be allocated for working capital requirements and business expansion
• The remaining funds will be used for general corporate purposes

Company Overview and Financial Performance

Sugs Lloyd, incorporated in 2009, has demonstrated significant growth in recent years:

The company's substantial revenue growth of over 171% and the near-doubling of net profit highlight its strong financial performance and potential for future growth.

Market Response

The strong oversubscription across all investor categories suggests a positive market sentiment towards Sugs Lloyd's business model and growth prospects. The company's focus on critical infrastructure sectors such as electrical transmission, distribution, and solar EPC projects appears to have resonated well with investors.

As Sugs Lloyd prepares to list on the stock exchanges, the successful closure of its IPO marks a significant milestone in the company's journey. Investors and market watchers will likely keep a close eye on how the company leverages this capital infusion to fuel its expansion plans and strengthen its position in the EPC sector.

Sugs Lloyd, an Engineering, Procurement, and Construction (EPC) company specializing in renewable energy projects, has opened its Initial Public Offering (IPO) for public subscription. The company aims to raise Rs 85.66 crore through a fresh issue of 69.64 lakh equity shares.

IPO Details

• Price Band: Rs 117 - Rs 123 per share
• Minimum Bid: 2,000 shares
• Issue Size: 69.64 lakh equity shares
• Target Amount: Rs 85.66 crore

Allocation Structure

The company has structured its allocation as follows:

Use of Proceeds

Sugs Lloyd has earmarked the IPO proceeds for the following purposes:

• Working Capital: Rs 80.65 crore
• General Corporate Purposes: Remaining amount

Company Overview

Sugs Lloyd operates as an EPC company with a focus on renewable energy, particularly solar projects. The company also engages in electrical transmission and civil works.

Financial Performance

The company has reported strong financial growth:

• Total Income: Increased by 159% to Rs 177.87 crore
• Profit After Tax: Rose by 60% to Rs 16.78 crore

Market Sentiment

The grey market premium for Sugs Lloyd IPO stands at approximately 4%, suggesting muted expectations for the listing.

Important Dates

• Share Allotment: Expected on September 3
• Listing Date: Scheduled for September 5 on the BSE SME platform

Investors interested in the renewable energy sector and SME listings may consider this IPO, keeping in mind the company's recent financial performance and the current market sentiment. As always, it is advisable to thoroughly research and consult with financial advisors before making investment decisions.