The shares of Santek Infra Solutions, which provide B2B Civil Construction Services, got into a fake entry on NSE SME today. Its IPO received more than 223 times the overall. Shares have been issued at a price of ₹ 86.00 under IPO. Today, it has entered ₹ 109.10 on NSE SEME i.e. IPO investors got a listing gain of 26.86%. However, the joy of IPO investors faded shortly when the stocks broke. It broke up to an altitude of ₹ 110 and broke it to the lower circuit of ₹ 103.65 (Suntech Infra Share Price) i.e. IPO investors are now 20.52% profitable.
Santech Infra’s ₹ 44.39 crore IPO was opened for subscription from June 25-27. This IPO received tremendous response from investors and overall it was 223.64 times subscribed. It had 122.82 times reserved for qualified institutional buyers (QIB), a share of non-institutional investors (NII) 529.51 times and retail investors were 150.10 times. Under this IPO, new shares have been issued and a ₹ 10 face value of ₹ 10.21 crore shares have been sold under offer for cell window. The offer for sale money has been received by shareholders selling share. At the same time, out of the money collected through new shares, ₹ 12.51 crore construction equipment will be purchased, ₹ 12.21 crore working capital needs and rest of the money will be spent on common corporate objectives.
The Santek Infra Solutions B2B Construction Company, made in April 2009. It provides civil construction services through direct contract, sub-contract and equipment rental. According to data up to July 2024, 6 projects worth ₹ 186.37 crore are still going on. Apart from this, an order of ₹ 10.93 crore is of Bunk Construction Equipment Renting.
Talking about the financial health of the company, it has been strongly strengthened. In FY 2022, it made a net profit of ₹ 3.02 crore, which jumped in the next financial year 2023 to ₹ 5.76 crore and ₹ 9.25 crore in FY 2024. During this period, the company’s revenue increased to ₹ 96.25 crore from the compound rate (CAGR) annually to ₹ 96.25 crore and the CAGR of more than 42% increased to ₹ 27.22 crore. Talking about the last financial year 2024-25, in April-December 2024 it received a net profit of ₹ 10.28 crore and a revenue of ₹ 91.25 crore and an operating profit of ₹ 29.57 crore.
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