BSE List Price : ₹200.00

NSE List Price : ₹200.00

Subscription

Category	Times
QIBs	3.31x
HNIs	19.31x
Retail	5.52x
Total : 7.91x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	81	₹14,985
Retail Maximum	13	1,053	₹14,985
S-HNI Minimum	14	1,134	₹209,790
S-HNI Maximum	66	5,346	₹989,010
B-HNI Minimum	67	5,427	₹989,010

About the Company

Swastika Infra Limited is an engineering, procurement and construction (EPC) company focused on power transmission and distribution infrastructure projects. The company provides turnkey solutions covering procurement, supply, erection, installation, testing and commissioning of power infrastructure. Its business also includes the sale of electrical products. As of July 31, 2026, the company had completed 36 EPC Power Projects across six states, covering approximately 18,579.47 km of distribution lines, and had 18 ongoing projects with an aggregate order book of 2,036.65 crore.

Products & Services
• Underground Power Cabling
• GIS/AIS & Grid Substations
• Rural & Urban Electrification
• Street Lighting Projects
• Renewable Energy Infrastructure
• Sale of Power Cables & Electrical Products

Products & Services

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹211.33	₹192.50	₹13.98	₹143.26
2025	₹352.60	₹315.58	₹27.46	₹258.54
2026	₹505.57	₹450.23	₹41.43	₹412.24

Company Promoter

Babulal Gupta

Vinay Gupta

Ruchira Gupta

Biren Parnami

Manoj Modiand Vatsalya Gupta

Know before investing

• • Strengths

  Strong EPC Track Record: Completed 36 EPC projects across six states, covering 18,579.47 km of distribution lines.

  Large Order Book: 18 ongoing projects with an aggregate order value of 2,036.65 crore as of July 31, 2026.

  Government Utility Experience: Established project relationships with multiple government power utilities including WBSEDCL, MGVCL, APDCL, JVVNL, AVVNL, MSEDCL and RRVPNL.

  Asset-Light Model: Uses third-party contractors for erection activities while retaining in-house procurement and project-management capabilities.

  Experienced Management: Promoters and management have extensive experience in EPC power infrastructure, supported by 65 engineers and technicians.

  Strong Financial Growth: Revenue from operations increased from 209.58 crore in FY24 to ?503.57 crore in FY26, while PAT increased from ?13.98 crore to ?41.43 crore.

• • Risks

  Government Project Dependence: Government utilities contributed 96.87% of revenue in FY26, while 100% of the order book as of July 31, 2026 consisted of government-utility projects.

  Client Concentration: The top five clients accounted for 96.87% of FY26 revenue and the top ten accounted for 99.58%.

  Project Concentration: The top five projects represented 69.72% of the order book as of July 31, 2026, creating dependence on execution of large projects.

  Negative Operating Cash Flow: Operating cash flow remained negative in FY24, FY25 and FY26, which may create liquidity and working-capital pressure.

  Execution Delays: EPC projects may face delays due to site handover, approvals, drawings, payments and other factors, potentially affecting costs and margins.

  Subcontractor Dependence: A significant part of erection work is assigned to third-party contractors, creating execution and quality-control risks.

Objects of the Issue & Utilisation of proceeds

Incremental Working Capital Requirements: ?128.50 crore

General Corporate Purposes: Balance amount

Company Address

Swastika Infra IPO Limited
Plot No. 14 & 15 , First Floor,
Gajraj Apartment, Opp. Neelam Hotel,
Motilal Atal Road,
Jaipur – 302001, Rajasthan
Phone: 0141-4025773;
Email: info@swastikainfra.com;
Website: www.swastikainfra.com

IPO Registrar

MUFG Intime India Private Limited
Phone: + 91 810 811 4949
E-mail: nsdl.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html