Sugs Lloyd IPO Opens: Targeting Rs 85.66 Crore in Fresh Issue
Sugs Lloyd, an EPC company specializing in renewable energy, has launched its IPO to raise Rs 85.66 crore through a fresh issue of 69.64 lakh equity shares. The price band is set at Rs 117-123 per share, with a minimum bid of 2,000 shares. The allocation structure favors retail investors at 53.68%, followed by NIIs at 31.38% and QIBs at 9.92%. The company plans to use Rs 80.65 crore for working capital and the remainder for general corporate purposes. Sugs Lloyd has shown strong financial growth, with total income increasing by 159% to Rs 177.87 crore and profit after tax rising by 60% to Rs 16.78 crore. The grey market premium stands at approximately 4%, indicating muted listing expectations. Share allotment is expected on September 3, with listing scheduled for September 5 on the BSE SME platform.
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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:
| Investor Category | Allocation Percentage |
|---|---|
| Retail Investors | 53.68% |
| Non-Institutional Investors (NIIs) | 31.38% |
| Qualified Institutional Buyers (QIBs) | 9.92% |
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.
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