Integrity Infrabuild Developers IPO: Price, Allotment And GMP

Integrity Infrabuild Developers IPO- Complete Overview

Integrity Infrabuild Developers IPO under the SME IPO category is a fixed price issue of Rs. 12 Cr by Integrity Infrabuild Developers Limited, and was founded in 2017. The Gujarat government has the company listed as a Class-A civil contractor.

It undertakes construction work as a contractor for government projects within the state of Gujarat and also subcontracts to enhance its footprint in the state's construction industry.

As of 31 March 2025, the company has ongoing contracts amounting to Rs. 20,598 lac. Out of this amount, executed works worth Rs. 4,291 lac have been completed while the balance of Rs. 16,307 lac is in the order book.

As of 31 March 2025, the company employed a total of 53 full-time employees, which includes one KMP, office clerical staff and project execution staff, which is composed of semi-skilled and unskilled workers, including drivers.

Integrity Infrabuild Developers IPO Overview

The Integrity Infrabuild Developers IPO begins on May 13, 2025, and ends on May 15, 2025. 

The Rs. 12 crore new SME IPO comprises a fresh issue of 12 lac Shares. 

This upcoming IPO is available from May 13 to May 15, 2025. The Integrity Infrabuild Developers IPO price is Rs. 100 for each Share. 

The expected Integrity Infrabuild Developers IPO listing date is May 20, 2025, and listing at the NSE and SME.

 

 

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Company Financial

(Amount in Lac)

 

Cash Flows

(Amount in lac)

 

Revenue Bifurcation

Segment-wise breakdown

(Source: RHP)

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Purchasing equipment and machinery.

• Working capital needs for funding.

• General corporate purposes.
  
  

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Peers of Integrity Infrabuild Developers Ltd.

Evaluation

The Integrity Infrabuild Developers Limited IPO price is Rs. 100 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs. 3.06 from the last year, the resulting P/E ratio is 32.68x.

Considering the weighted EPS of Rs. 2.01 for the last three years, the P/E ratio is 49.75x.

 

Manoj Jewellers IPO allotment is available now.

 

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 37.04.

In simple words, the P/E ratio of this IPO (32.68x), compared with the industry’s average P/E of 37.04x, has an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

IPO's Strengths

• Concentrated on building roads, bridges and structures.

• Effective project management and professional experience in the industry.

• The order book is growing at a remarkable pace, demonstrating visible expansion.

• Consistently high standards of financial performance.

• Available knowledge and resources.
  
  

IPO’s Weaknesses

• The company's whole operations are located in Gujarat. This renders it extremely vulnerable to local risks such as policy fluctuations, political turbulence, and state-level economic slowdown.

• A considerable part of the company's revenue is derived from government and public sector undertaking contracts. Any termination or delay in these contracts may have a negative impact on financial performance.

• The projects of the company are exposed to risks of delay, changes, or termination through causes such as client default or regulation. These disturbances would cause penalties or loss of revenue

 

Integrity Infrabuild Developers IPO GMP

Integrity Infrabuild Developers IPO GMP is Rs. 0 as of 10 May 2025. Hence, its estimated listing price is Rs. 100.

IPO Timetable (Tentative)

The Integrity Infrabuild IPO date of subscription is May 13 to May 15, 2025, allotment on May 16, refund initiation on May 19, and listing on May 20, 2025.

 

Integrity Infrabuild Developers IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 12,00,000 Shares (Rs. 12 Cr).

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1200 Shares) amounting to Rs. 1,20,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2400 Shares) amounting to Rs. 2,40,000.

 

The Virtual Galaxy IPO can be applied till 14 May 2025.

 

IPO Reservation (% of Net Issue)

 

Promoters And Management of Integrity Infrabuild Developers Ltd.

• Keyurkumar Sheth

• Rajendrakumar Sheth

• Disha Keyurkumar Sheth.
  
  

 

IPO Lead Managers

• Aryaman Financial Services Limited.
  
  

Dividend Policy

The company hasn’t paid a dividend in the last three fiscal years. 

Conclusion

Integrity Infrabuild Developers IPO is coming out with its Rs. 12 crore. The firm is a Class-A government works contractor in Gujarat, and it is issuing 12 lac new equity shares. Owing to a healthy order book, stable financial track record, and specific infrastructure expertise, the IPO offers reasonable valuation on an industry P/E basis.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.