Srinibas Pradhan Constructions Limited (“SPCL”) is an Odisha-based infrastructure development company engaged in the execution of civil and infrastructure projects across multiple sectors.
SPCL operates primarily in the infrastructure and utilities segment, focusing on the development of roads, bridges, civil structures, electricity-related infrastructure, and mining-linked infrastructure projects. The company undertakes projects for state government departments, central and state public sector undertakings, and private corporate clients, primarily within the state of Odisha.
Core Business Segments:
- Roads and Highways Infrastructure: SPCL constructs rural, district, and urban roads using quality materials, with projects awarded through competitive bidding and executed on a milestone basis.
- Bridges and Steel Structures: SPCL executes high-level bridges, bridge superstructures, and steel structures for bridges and industrial sheds, strengthening its capability in technically complex infrastructure projects.
- Civil Construction & Industrial Infrastructure: SPCL undertakes foundations, superstructures, multi-storey buildings, factories, and irrigation works, catering to diverse infrastructure and industrial development needs.
As of February 15, 2026, the company reported a consolidated order book of ₹184.07 Crore, reflecting ongoing and upcoming project execution commitments.
Srinibas Pradhan Constructions IPO – Details
| IPO Opening Date | 06 March 2026 |
| IPO Closing Date | 10 March 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 20,73,600 Shares Worth ₹20.32 Crore Fresh Issue: 17,13,600 Shares Worth ₹16.79 Crore Offer For Sale: 3,60,000 Shares Worth ₹3.53 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹91 – ₹98 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Maashitla Securities Pvt. Ltd. |
| QIB Shares Offered | 1% |
| NII Shares Offered | 49.50% |
| Retail Shares Offered | 49.50% |
Srinibas Pradhan Constructions IPO – Date Schedule
| IPO Open Date | 06 March 2026 |
| IPO Close Date | 10 March 2026 |
| Basis of Allotment | 11 March 2026 |
| Initiation of Refund | 12 March 2026 |
| Credit of Shares to Demat | 12 March 2026 |
| IPO Listing Date | 13 March 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 10, 2026 |
Srinibas Pradhan Constructions IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,35,200 |
| Retail (Max) | 2 | 2,400 | ₹2,35,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,52,800 |
| S-HNI (Max) | 8 | 9,600 | ₹9,40,800 |
| B-HNI (Min) | 9 | 10,800 | ₹10,58,400 |
Competitive Strength
- Established Reputation.
- Experienced Workforce.
- Strong Backward Integration.
- Diverse Portfolio.
Company Promoters
- Mr. Ramakanta Pradhan
- Mr. Srinibas Pradhan
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹26.35 Cr | ₹24.37 Cr | ₹1.48 Cr | ₹0.06 Cr |
| 31 March 2024 | ₹35.27 Cr | ₹30.52 Cr | ₹3.55 Cr | ₹1.88 Cr |
| 31 March 2025 | ₹89.73 Cr | ₹80.92 Cr | ₹6.59 Cr | ₹17.25 Cr |
| 30 September 2025 | ₹45.63 Cr | ₹40.07 Cr | ₹4.11 Cr | ₹17.17 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 21.67% |
| ROCE | 29.79% |
| Debt/Equity | 0.78 |
| RoNW | 21.67% |
| PAT Margin | 9.01% |
| EBITDA Margin | 16.76% |
| Price to Book Value | – |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.71 | 10.45 |
| P/E (x) | 9.15 | 9.37 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the working capital requirements of the Company. | ₹11.55 |
| Repayment of a portion of the loan availed by the Company. | ₹1.00 |
| General Corporate Purpose. | – |
✅Strengths
- Strong presence in Odisha infrastructure projects.
- Diversified portfolio: roads, bridges, civil & industrial works.
- Healthy order book providing revenue visibility.
- Experienced promoter-led management.
- Regular participation in government tenders.
⚠️Risks
- High dependence on government contracts.
- Geographic concentration in Odisha.
- Working capital intensive business.
- Project execution and delay risks.
- Competitive industry with margin pressure.
- Raw material price volatility.
Srinibas Pradhan Constructions IPO Promoter Holding
| Pre-Issue Share Holding | 85.27% |
| Post Issue Share Holding | – |
Srinibas Pradhan Constructions IPO Prospectus
Company Contact Information
| Srinibas Pradhan Constructions Ltd. C/O- Srinibas Pradhan, Near Chuakani Po-Lamtibaha, Jharsuguda, Jharsuguda, Jharsuguda, Odisha, 768216 Phone: +91 6645 251105 Email: cs@srinibaspradhan.com Website: https://www.srinibaspradhan.com/ |
Srinibas Pradhan Constructions IPO Registrar
| Maashitla Securities Pvt. Ltd. Phone: +91-11-45121795-96 Email: Investor.ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Srinibas Pradhan Constructions IPO Lead Manager(s)
| 1. Novus Capital Advisors Private Limited |
Srinibas Pradhan Constructions IPO FAQ
| What is the Srinibas Pradhan Constructions IPO? Srinibas Pradhan Constructions IPO is an SME IPO. The issue is priced at ₹91 – ₹98 per equity share. The IPO is to be listed on NSE SME. |
| When will Srinibas Pradhan Constructions IPO open? The IPO is to open on 06 March 2026 for QIB, NII, and Retail Investors. |
| What is Srinibas Pradhan Constructions IPO Investors’ Portion? The investors’ portion for QIB – 1%, NII – 49.50%, and Retail – 49.50%. |
| What is the Srinibas Pradhan Constructions IPO Size? Srinibas Pradhan Constructions IPO size is ₹20.32 Crore. |
| What are the Srinibas Pradhan Constructions IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,35,200, while the maximum bid is 2400 Shares for ₹2,35,200. |
| What is the Srinibas Pradhan Constructions IPO Allotment Date? Srinibas Pradhan Constructions IPO allotment date is 11 March 2026. |
| What is the Srinibas Pradhan Constructions IPO Listing Date? Srinibas Pradhan Constructions IPO listing date is 13 March 2026. The IPO is to be listed on the NSE SME. |
