Samay Project Services IPO: Date, Price And GMP

Samay Project Services IPO- Complete Overview

Samay Project Services IPO under the SME IPO category is a book build issue of Rs. 14.69 Cr by Samay Project Services Limited. The company provides Engineering, Procurement & Construction (EPC) services with expertise in design, engineering, and commissioning of balance of plant (BOP) systems for multiple industries, and was founded in November 2001.

The company provides EPC projects comprising (i) piping systems, (ii) tanks, vessels, and other fabricated components, and (iii) fire protection and detection systems.

Services Offered:

Fire Detection & Protection Systems: Supply, Erection, Testing, and Commissioning of Fire Detection and Protection Systems such as Fire Hydrant and Spray Systems.

Piping and Appurtenances: Complete range of low-pressure piping system design, engineering, supply, fabrication, erection, and commissioning.

Tanks: Tank farm/storage tanks designing and erection proficiency.

Cross Country Water and Liquid Pipelines: Implementation of cross-country water and liquid pipelines within and outside the country.

System Automation: Integrates instrumentation and electromechanical systems to provide a comprehensive solution.

EPC of BioCNG Plants: Engineering, Procurement, and Construction: End-to-end BioCNG project engineering execution, starting from feedstock discovery to commissioning.

The company is an ISO 9001:2015 accredited organization for quality management in Engineering, Supply, Fabrication, Erection, Testing, and Commissioning of Piping, Tanks, and Fire Fighting Systems. 

 

Samay Project Services IPO Overview

The Samay Project Services IPO date is on 16 June 2025, and its initial public offering will end on 18 June 2025. 

The Rs. 14.69 crore new SME IPO comprises a fresh issue of 43.20 lac Shares. 

This upcoming IPO is available for subscription from June 16 to 18 June 2025. Samay Project Services IPO price is Rs. 32 to Rs. 34 for each Share. 

The expected Samay Project Services IPO listing date is Jun 23, 2025, and listing at the NSE and SME.

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Lac)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	31.77	24.83	21.28
Total Revenue	37.72	40.95	20.82
PAT	4.19	4.62	3.44
Net Worth	20.23	16.03	11.42
Reserves & Surplus	9.20	5	11.11
Borrowings	2.09	-0.64	1.18

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Dec 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	160.47	194.73	(161.22)
Net Cash Flow Investing Activities	8.67	3.63	264.97
Net Cash Flow Financing Activities	(57.75)	(100.34)	77.89

 

Revenue Bifurcation

Service-wise Revenue Bifurcation

 

State-wise Revenue Bifurcation

Country-wise Revenue Bifurcation

(Source: RHP)

 

The Objective of the Issue

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

• Financing the company's operating cash needs.

• General corporate purposes.
  
  

Click to check the IPO application status.

Peers of Samay Project Services Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Pratham EPC Projects Limited	10	7.62	20.19

 

Evaluation

The Samay Project Services Limited IPO price is Rs. 32 to Rs. 34 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 3.80 from the last year, the resulting P/E ratio is 8.94x.

Considering the weighted EPS of Rs. 3.82 for the last three years, the P/E ratio is 8.9x.

 

Explore Monolithisch India IPO.

 

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 20.19.

Particulars	P/E Ratio (x)
Highest	20.19
Lowest	20.19
Average	20.19

In simple words, the P/E ratio of this IPO (8.94x), compared with the industry’s average P/E of 20.19x, 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

• Powerful Engineering and Technical Software and Design Team.

• Good coverage in several EPC Segments.

• Existing client relationship.

• Dedicated to its customers with excellence and professionalism so that they speak highly of it. It brings exceptional value by delivering high-quality work.
  
  

IPO’s Weaknesses

• Shortages of workers in a few distant project locations.

• Labor availability issue.

• Cost overruns issue due to problems with site clearing.

• Small, disorganized contractors with less overhead are competing for the same jobs.
  
  

Samay Project Services IPO GMP

Samay Project Services IPO GMP is Rs. 0 as of 14 Jun 2025. Hence, its estimated listing price is Rs. 34.

IPO Timetable (Tentative)

The Samay Project IPO date of subscription is Jun 16 to Jun 18, 2025, allotment on Jun 19, refund initiation on Jun 20, and listing on Jun 23, 2025.

Events	Date
IPO Opening Date	Jun 16, 2025
IPO Closing Date	Jun 18, 2025
IPO Allotment Date	Jun 19, 2025
Refund Initiation	Jun 20, 2025
IPO Listing Date	Jun 23, 2025

 

Samay Project Services IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 43,20,000 Shares (Rs. 14.69 Cr).

IPO Opening & Closing date	16 Jun, 2025 to 18 Jun, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 32 to Rs. 34 per Share.
Lot Size	4000 Shares
Issue Size	43,20,000 Shares (Rs. 14.69 Cr)
Offer for Sale	-
Fresh Issue	43,20,000 Shares (Rs. 14.69 Cr)
Listing at	NSE, SME
Issue Type	Book building Issue
Registrar	Bigshare Services Pvt Ltd.

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (4000 Shares) amounting to Rs. 1,36,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (8000 Shares) amounting to Rs. 2,72,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	15%

 

Promoters And Management of Samay Project Services Ltd.

• Mr. Anand R.

• Ms. Santhi Karthikeyan.

Pre-Issue Promoter Shareholding	96.29%
Post-Issue Promoter Shareholding	69.19%

 

IPO Lead Managers

• Smart Horizon Capital Advisors Private Limited.
  
  

Dividend Policy

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

 

Conclusion

The Samay Project Services IPO provides investors an opportunity to buy into an established EPC player with sound technical base and a varied project base. The IPO is priced attractively with a less P/E ratio of its industry counterparts suggesting a better value. But risks like labor shortages and cost overruns still persist.

 

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.