Current infrastructure projects that IPO opens for subscription today with strong GMP. Check the price band and other details

The RS 41.80 Crore IPO of current infrastructure projects will be opened today for subscription. The issue, completely a new range of 52.25 Lakh shares, will be closed on August 29. The Gray Market Premium (GMP) is around 54%, indicating a strong listing potential.

The allocation will probably be completed on 1 September and the shares are expected to be mentioned on 3 September on NSE SME.

Anchor investors pumped in RS 11.62 Crore prior to the issue by subscribing to 14.52 Lakh shares on 25 August.

Price band and plot size

The price band is set at RS 76-80 per share. Investors can request at least 3,200 shares.

About the company

Current Infrapprojects was founded in 2013 and is an EPC player (Engineering, Purchasing and Construction) with activities in 12 Indian states. It offers turnkey services in solar energy, water infrastructure, mechanical and electric works, as well as civil contracts.

Finance and strengths

For FY25, the company reported the turnover of RS 91.33 Crore and profit after tax on RS 9.45 Crore.

Objects of the problem

The IPO yield will be used to invest RS 5.85 CRORE in its subsidiary current Infra Dhanbad Solar for a solar project of 1,800 kW at IIT (ISM) DHANBAD, Fund RS 30 Crore of Working Capital Requirements and meet general business purposes.

Holani Consultants is the lead manager of the book, while Bigshare Services is the registrar.

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