Unpacking the Current Infraprojects IPO: Your Comprehensive Investment Guide
The Indian infrastructure and renewable energy sectors are buzzing with activity, and a new player is stepping into the public spotlight. Current Infraprojects Limited (CIPL) is gearing up for its Initial Public Offering (IPO), offering investors a chance to participate in its growth story. This detailed guide will walk you through everything you need to know about this upcoming SME IPO.
Understanding Current Infraprojects Limited: Powering Growth
Established in 2013, Current Infraprojects Limited is a diversified engineering company focused on infrastructure and renewable energy. It provides a comprehensive suite of Engineering, Procurement, and Construction (EPC) services across various domains, including:
- Civil engineering projects
- Mechanical engineering solutions
- Electrical infrastructure development
- Water engineering and management
- Specialized services like interior works and road furniture
Beyond EPC, CIPL also offers expert Engineering Consulting for Mechanical, Electrical, and Plumbing (MEP) systems, alongside Project Management Consulting (PMC) services. Demonstrating a unique diversification, the company also operates in the hospitality sector by leasing its farmhouse property, YAHVI The Farmhouse.
With operations spanning 12 Indian states and a track record of completing projects totaling over ₹23,209 Lakhs as of July 31, 2025, CIPL has established a significant presence in its core markets.
Key Business Strengths:
- Focused EPC Expertise: A clear specialization in EPC contracts enables efficiency and deep industry knowledge.
- Quality Assurance: Possesses NABL Accreditation for its Quality Assurance Lab, underscoring a commitment to high standards.
- Robust Order Book & Client Relationships: Benefits from a strong pipeline of orders, including repeat business, indicating stable and long-standing client relationships.
The Public Offering: Key Dates and Details
The Current Infraprojects IPO is a book-built issue designed to raise capital for the company's expansion and operational needs. Here's a quick overview of the essential details:
IPO Snapshot:
| Detail | Information |
|---|---|
| Issue Price Band | ₹76 to ₹80 per share |
| Face Value | ₹10 per share |
| Issue Type | Book Building SME IPO |
| Total Issue Size | 52,25,600 shares (aggregating up to ₹41.80 Cr) |
| Sale Type | Entirely a Fresh Issue |
| Listing At | NSE SME |
Investment Lot Sizes:
For investors considering participation, understanding the lot size is crucial:
| Investor Category | Minimum Lots | Minimum Shares | Minimum Amount |
|---|---|---|---|
| Individual Investors (Retail) | 2 | 3,200 | ₹2,56,000 |
| Small High Net-worth Individuals (sHNI) | 3 | 4,800 | ₹3,84,000 |
| Big High Net-worth Individuals (bHNI) | 8 | 12,800 | ₹10,24,000 |
Share Allocation and Anchor Investor Insights
The IPO includes reservations for various investor categories to ensure broad participation:
| Investor Category | Shares Offered | Percentage (%) |
|---|---|---|
| Market Maker | 2,68,800 | 5.24% |
| Qualified Institutional Buyers (QIB) | 24,22,400 | 47.25% |
| - Anchor Investors | 14,52,800 | 28.34% |
| - QIB (Ex-Anchor) | 9,69,600 | 18.91% |
| Non-Institutional Investors (NII) | 7,29,600 | 14.23% |
| - bNII (> ₹10L) | 4,86,400 | 9.49% |
| - sNII (< ₹10L) | 2,43,200 | 4.74% |
| Retail Individual Investors (RII) | 17,05,600 | 33.27% |
| Employees | 99,200 | 1.94% |
| Total Shares Offered | 51,26,400 | 100.00% |
The company successfully raised ₹11.62 crore from anchor investors on August 25, 2025. These shares come with a lock-in period: 50% are locked in for 30 days (ending October 1, 2025), and the remaining for 90 days (ending November 30, 2025).
Operational Performance: A Financial Snapshot
Current Infraprojects Limited has demonstrated consistent growth in its financial performance. Here’s a look at the consolidated figures as of March 31, 2025:
| Particulars | Amount (₹ Crore, as of Mar 31, 2025) |
|---|---|
| Assets | 79.52 |
| Total Income | 91.33 |
| Profit After Tax (PAT) | 9.45 |
| EBITDA | 14.75 |
| Net Worth | 23.73 |
| Reserves and Surplus | 10.23 |
| Total Borrowing | 30.60 |
Examining the standalone financials reveals a positive trend over recent years:
| Particulars (₹ Crore) | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|
| Assets | 35.65 | 42.07 |
| Total Income | 61.06 | 77.73 |
| Profit After Tax | 1.49 | 5.09 |
| EBITDA | 3.31 | 8.31 |
| Net Worth | 9.19 | 14.27 |
| Reserves and Surplus | 6.19 | 5.27 |
| Total Borrowing | 8.83 | 12.18 |
Key Performance Indicators (KPIs):
A deeper dive into the company's efficiency and valuation metrics (as of March 31, 2025):
| Metric | Value |
|---|---|
| Market Capitalization | ₹153.18 Cr |
| Return on Equity (ROE) | 49.75% |
| Return on Capital Employed (ROCE) | 26.49% |
| Debt/Equity Ratio | 1.29 |
| Return on Net Worth (RoNW) | 39.84% |
| Profit After Tax (PAT) Margin | 10.40% |
| EBITDA Margin | 16.23% |
| Price to Book Value | 4.55 |
| Earnings Per Share (Pre-IPO) | ₹6.79 |
| Price/Earnings (P/E) Ratio (Pre-IPO) | 11.78x |
| Earnings Per Share (Post-IPO) | ₹4.94 |
| Price/Earnings (P/E) Ratio (Post-IPO) | 16.19x |
Objectives of the Public Offering
The capital raised through this IPO will primarily be utilized for strategic growth initiatives:
- Investment in Solar Plant: A significant portion (₹5.85 Crore) is earmarked for investment in its wholly-owned subsidiary, Current Infra Dhanbad Solar Private Limited, to set up an 1800 KW solar plant under the RESCO Model at IIT(ISM), Dhanbad, Jharkhand.
- Working Capital Needs: A substantial amount (₹30 Crore) will be allocated to meet the company's working capital requirements, essential for sustaining and expanding operations.
- General Corporate Purposes: The remaining funds will be used for general corporate needs, providing flexibility for future growth and operational efficiency.
Leadership and Promoter Holdings
The company is promoted by a dedicated team comprising Mr. Sunil Singh Gangwar, Mrs. Sujata Gangwar, Mr. Satyavrat Singh, and Mr. Devvrath Singh. Their vision guides CIPL's strategic direction and operational execution.
| Holding Type | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 96.96% |
| Promoter Holding Post-Issue | 70.50% |
Strategic Outlook: A SWOT Analysis
Understanding a company's position requires a balanced view of its internal strengths and weaknesses, as well as external opportunities and threats. Here's a SWOT analysis for Current Infraprojects Limited:
**Strengths:**
- Strong focus and expertise in diverse EPC segments (Solar, Electrical, Water, Civil).
- Certified quality assurance processes (NABL accreditation).
- Established client relationships and a robust order book indicating future revenue visibility.
- Diversified revenue streams, including a venture into hospitality.
- Experienced promoter group guiding the company.
**Weaknesses:**
- The IPO is noted as "aggressively priced," which might affect investor sentiment and listing performance.
- Potential reliance on a limited number of large-scale projects or government contracts, which can introduce revenue volatility.
- The SME platform might offer less liquidity compared to mainboard listings.
- Geographical concentration in 12 states, leaving room for broader national expansion but also potential regional risks.
**Opportunities:**
- Booming Indian infrastructure sector, fueled by government initiatives and private investment.
- Significant growth potential in the renewable energy sector, especially solar, aligning with national green energy goals.
- Expansion into new states or specialized EPC segments.
- Leveraging existing expertise to bid for larger, more complex projects.
- Potential for inorganic growth through strategic acquisitions.
**Threats:**
- Intense competition from established players and other emerging companies in the infrastructure and EPC space.
- Fluctuations in raw material costs (e.g., steel, cement, solar components) impacting project profitability.
- Economic slowdowns or policy changes in infrastructure and renewable energy sectors.
- Delays in project execution or payment cycles from clients.
- Regulatory challenges and environmental compliance hurdles.
Applying for the IPO and Key Intermediaries
Prospective investors can typically apply for SME IPOs online through their stockbrokers using either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) payment methods. For a smooth application process, ensure your Demat and trading accounts are ready.
Important Contacts:
For any queries related to the IPO or the company, here are the key contacts:
- Lead Manager: Holani Consultants Pvt.Ltd.
- Registrar: Bigshare Services Pvt.Ltd.
- Company Address: Current Infraprojects Ltd., A-27, Basant Vihar, Vaishali Marg (West), Panchyawala, Jaipur, Rajasthan, 302034
- Company Phone: 0141-6762066
- Company Email: cs@currentinfra.com
Remember: Investing in IPOs, especially SME IPOs, carries inherent risks. It is advisable to conduct your own thorough due diligence, review the Red Herring Prospectus (RHP) carefully, and consult with a financial advisor before making any investment decisions.
Final Thoughts and Investment Outlook
Current Infraprojects Limited presents an intriguing opportunity in the flourishing Indian infrastructure and renewable energy sectors. With a solid foundation in EPC services, a growing financial track record, and a clear vision for utilizing the IPO proceeds, the company is positioned for continued expansion.
While the market has noted the issue's valuation as potentially "aggressively priced," the company's strong order book (over ₹280 crore as of July 31, 2025) and specialized expertise provide a positive outlook for the medium to long term. As with any investment, a careful evaluation of the company's fundamentals, sector dynamics, and personal risk appetite is paramount.
Happy investing!