Sugs Lloyd IPO: Price, GMP, Analysis, And Details

Sugs Lloyd IPO- Company Analysis 

Sugs Lloyd IPO under the SME IPO category is a bookbuilding issue of Rs. 85.66 Cr by Sugs Lloyd Ltd, which was incorporated in 2009 and is a technology-driven engineering and construction firm that focuses on renewable energy, particularly solar energy, as well as electrical transmission, distribution, and civil EPC projects.

Additionally, it provides several energy DISCOMs (Distribution Companies) with Outage Management Solutions (OMS) that use fault passage indicators, auto reclosers, and Sectionalizers. With a focus on supporting electricity DISCOMs (Distribution Companies), we provide complete solutions for electrical substation work and civil building construction, especially for government clients.

Because of its commitment to offering innovative and environmentally friendly technical solutions, it continues to be a significant force in the development of infrastructure, particularly in the area of renewable energy.

 

Services:

• Electrical EPC

• Civil EPC

• Solar EPC

• Manpower Staffing.

 

Sugs Lloyd IPO Details

The Sugs Lloyd IPO date is on 29 August 2025, and its initial public offering will end on 02 Sep with IPO allotment on Sep 03, and refund initiation on Sep 04, 2025.

The Rs. 85.66 crore new SME IPO comprises a wholly fresh issue of 0.70 crore Shares.

The Sugs Lloyd IPO listing date (expected) might be on Friday, Sep 05, 2025, and listing at the BSE and SME. 

The Sugs Lloyd IPO price band is Rs. 117 to Rs. 123.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Aug 29, 2025
IPO Closing Date	Sep 02, 2025
IPO Allotment Date	Sep 03, 2025
Refund Initiation	Sep 04, 2025
IPO Listing Date	Sep 05, 2025

 

Click to open demat account and apply for the IPO.

 

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	133.50	48.23	24.65
Total Revenue	177.87	68.75	36.36
PAT	16.78	10.48	2.29
EBITDA	25.83	10.96	4.10
Net Worth	38.64	21.86	11.38
Reserves & Surplus	22.39	12.11	8.13
Borrowings	74.83	18.57	8.36

 

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	(4,443.68)	(427.92)	(1,042.07)
Net Cash Flow Investing Activities	(855.61)	(398.51)	(42.06)
Net Cash Flow Financing Activities	5,184.14	929.71	1,118.70

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. 80.65 Cr.

• General Corporate Purposes. 

 

Listed Peers of Sugs Lloyd Ltd. 

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Rulka Electricals Limited	10	5.46	25.60
Ganesh Green Energy Limited	10	13.94	44.80

 

Valuation

Metric	Value
ROE	55.47%
ROCE	21.58%
RoNW	43.42%
PAT Margin	9.52%
Price to Book Value	9.14
EBITDA Margin	14.66%
Debt/Equity	1.94

 

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 10.32 from the last year, the resulting P/E ratio is 11.91x. When compared with the industry’s average P/E of 35.20x, 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

• Standards and quality assurance.

• Current customer connection.

• Scalable business Model.

 

IPO’s Weaknesses 

• Significant dependency on government contracts

• This company requires a lot of working capital

• Regulatory and litigation risks

• Increased rivalry and margin pressure.

 

Sugs Lloyd IPO GMP (Grey Market Premium)

Sugs Lloyd IPO GMP today is Rs. 0, as of 22 Aug 2025 at the time of writing this information.

Sugs Lloyd IPO Summary

The Sugs IPO has a market maker portion size of 3,50,000 Shares (Rs. 4.31 Cr).

IPO Opening & Closing Date	29 Aug, 2025 to 02 Sep, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 117 to Rs. 123 per Share.
Lot Size	1000 Shares
Issue Size	69,64,000 Shares (Rs. 85.66 Cr)
Offer for Sale	-
Fresh Issue	69,64,000 Shares (Rs. 85.66 Cr)
Listing at	BSE, SME
Issue Type	Bookbuilding IPO
Registrar	Kfin Technologies Ltd.

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (2000 Shares) for Rs. 2,46,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (3000 Shares) for Rs. 3,69,000.

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

 

Sugs Lloyd IPO Allotment Status

To check the Sugs Lloyd 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 Sugs Lloyd Ltd.

• Mrs. Priti Shah

• Mr. Santosh Kumar Shah.

Pre-Issue Promoter Shareholding	99.99%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• 3Dimension Capital Services Ltd. 

 

Dividend Policy

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

Conclusion

Investors get a chance to the expanding EPC and renewable energy sectors through the Sugs Lloyd IPO, which is supported by robust revenue growth and competitive values. The organization exhibits tremendous potential with a focus on quality assurance and a scalable business plan. However, its high debt levels, working capital problems, and significant reliance on government contracts continue to be major risks.          

 

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.