Sattva Engineering Construction IPO: Price, GMP, Analysis, And Details

Sattva Engineering Construction IPO - Company Analysis

Sattva Engineering Construction IPO under the SME IPO category is a bookbuilding issue of Rs. 35.38 Cr by Sattva Engineering Construction Ltd, which was incorporated in 2005, and is an EPC company with headquarters in Chennai that focuses on industrial construction projects, wastewater treatment, and water infrastructure.

As a top Class I contractor with more than 40 years of expertise, SECL works with government agencies such as the Chennai Metropolitan Water Supply and Sewerage Board and the Tamil Nadu Public Works Department.

 

SECL provides:

Projects involving water and wastewater include the planning and building of water distribution systems, pumping stations, overhead and subterranean tanks, and water and sewage treatment facilities.

Construction of commercial buildings, warehouses, container freight stations, and factory buildings in industrial and civil infrastructure.

Creating and marketing independent bungalows, multi-story apartments, premium apartments, and residential flats while improving regional urban infrastructure.

Sattva Engineering Construction IPO Details

The Sattva Engineering Construction IPO date is on 26 August 2025, and its initial public offering will end on 29 Aug with IPO allotment on Sep 01, and refund initiation on Sep 02, 2025.

The Rs. 35.38 crore new SME IPO comprises a wholly fresh issue of 0.47 crore Shares.

The Sattva Engineering Construction IPO listing date (expected) might be on Wednesday, Sep 03, 2025, and listing at the NSE and SME. 

The Sattva Engineering Construction IPO price band is Rs. 70 to Rs. 75.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Aug 26, 2025
IPO Closing Date	Aug 29, 2025
IPO Allotment Date	Sep 01, 2025
Refund Initiation	Sep 02, 2025
IPO Listing Date	Sep 03, 2025

 

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Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	114.82	87.48	83.38
Total Revenue	94.85	77.44	83.93
PAT	9.14	4.56	1.04
EBITDA	18.56	11.72	7.28
Net Worth	43.42	24.03	19.47
Reserves & Surplus	30.67	23.03	18.47
Borrowings	36.17	32.20	32.24

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(563.26)	572.04	778.15
Net Cash Flow Investing Activities	(5.11)	(190.84)	2.15
Net Cash Flow Financing Activities	743.30	(610.78)	(437.26)

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 working capital needs ~ Rs. 275 Mn.

• General Corporate Purposes. 

 

Listed Peers of Sattva Engineering Construction Ltd.

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
EMS Limited	10	33.05	18.23
Enviro Infra Engineers Limited	10	11.76	21.50
VA Tech Wabag Limited	10	47.48	33.4

 

Valuation

Metric	Value
ROE	27.10%
ROCE	28.58%
RoNW	27.10%
PAT Margin	9.64%
Price to Book Value	2.20
EBITDA Margin	19.82%
Debt/Equity	0.83

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 7.64 from the last year, the resulting P/E ratio is 9.81x. When compared with the industry’s average P/E of 25.82x, it indicates an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors.

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IPO's Strengths 

• Strong execution skills backed by an internal design, engineering, and execution team.

• Utilize cutting-edge technologies in the building and installation of STP and WTP.

• Projects financed by significant global financial institutions like the World Bank and the Asian Development Bank.

• A senior management team and seasoned promoters.

• Robust order book.

 

 

IPO’s Weaknesses 

• Reliance on government initiatives.

• Working capital-heavy enterprises.

• Risks of litigation and compliance.

• High levels of competition and pressure on margins.

 

Sattva Engineering Construction IPO GMP (Grey Market Premium)

Sattva Engineering Construction IPO GMP today is Rs. 15, as of 22 Aug 2025 at the time of writing this information. Hence, the Sattva Engineering Construction IPO listing price (estimated) might be Rs. 90 (upper price + current GMP or grey market premium).

Sattva Engineering Construction IPO Summary

The Sattva Engineering IPO has a market maker portion size of 2,40,000 Shares (Rs. 1.80 Cr).

IPO Opening & Closing Date	26 Aug, 2025 to 29 Aug, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 70 to Rs. 75 per Share.
Lot Size	1600 Shares
Issue Size	47,16,800 Shares (Rs. 35.38 Cr)
Offer for Sale	-
Fresh Issue	47,16,800 Shares (Rs. 35.38 Cr)
Listing at	NSE, SME
Issue Type	Bookbuilding IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (3200 Shares) for Rs. 2,40,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (4800 Shares) for Rs. 3,60,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Sattva Engineering Construction IPO Allotment Status

To check the Sattva Engineering Construction IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

 

Promoters And Management of Sattva Engineering Construction Ltd.

• Santhanam Seshadri

• R Sekar

• Jagachchandarr Sekar Uthra.

Pre-Issue Promoter Shareholding	86.18%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Vivro Financial Services Pvt. Ltd.

 

 

Dividend Policy

The company has not paid a dividend during the last three financial years.

Conclusion

With a solid order book and good execution capabilities, the Sattva Engineering Construction IPO gives investors a chance to get involved in India's expanding infrastructure and water treatment industry. The company exhibits strong fundamentals with projects supported by international financial institutions, healthy margins, and undervaluation on a P/E basis. But there are still issues with working capital intensity, litigation risks, and reliance on government contracts.

 

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.