Swastika Infra IPO Day 1: Issue booked 96%, NII portion fully subscribed; check key dates, other details

The initial public offering (IPO) of Swastika Infra on its first day of subscription witnessed a steady demand with a total booking of 96% on Wednesday, September 23.

Until 5 PM, the initial share sale of the firm had received bids for 60,73,866 shares as compared to 63,35,001 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 1.9 times, while the retail individual investor (RII) segment saw 0.71 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 0.69 times.

The ₹161 crore IPO has a price band set between ₹175 and ₹185 per share. The minimum lot size for an application is 81 shares, and the investor would have to apply for a minimum of 1 lot.

The IPO is a book-building issue, comprising a fresh issue of ₹129 crore and an offer for sale of ₹32 crore by promoters Vinay Gupta, Ruchira Gupta, Biren Parnami and Manoj Modi, and investors Ishaan Bhartia and Ishita Bhartia.

Shares of the company will be listed on both the National Stock Exchange and the Bombay Stock Exchange.

Swastika Infra IPO Objective

The money raised from the IPO will be used towards the following objectives:

Swastika Infra IPO: Listing date and time

What investors need to know about Swastika Infra

Swastika Infra is an engineering, procurement and construction (EPC) company focused on power transmission and distribution (T&D) infrastructure. The company executes power infrastructure projects on a turnkey basis and handles the entire project cycle, including procurement, construction, testing and commissioning.

The business initially operated as a trader of electrical products and entered the power distribution sector in 2012. Swastika Infra operates through two business verticals: EPC power projects and sale of products.

As of July 31, 2026, the company had 15 years of project-execution experience, had laid 18,579.47 km of distribution lines and had completed 36 projects across six states with an aggregate contract value of ₹764.6 crore.  The order book-to-revenue from operations ratio stood at 1.41 times in FY26, compared with 1.92 times in FY25 and 2.08 times in FY24.

Swastika Infra started its first EPC project in Rajasthan in 2012 and subsequently expanded its operations to Assam, Uttarakhand, West Bengal, Goa, Haryana, Himachal Pradesh, Gujarat and Maharashtra.