Shivalaya Construction Ltd. IPO Details
Shivalaya Construction was incorporated on December 10, 1997. The company executes projects on an EPC (engineering, procurement, and construction) or HAM (hybrid annuity model) basis. Its EPC business covers highways, bridges, buildings, and water works, while the HAM business focuses on developing roads and highways
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 24.9 M | - | - | ₹4,500.0 M | DRHP DOC |
Shivalaya Construction issue details
Shivalaya Construction has 24.9 M shares on offer
Shivalaya Construction IPO issue size is ₹ 4,500.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Shivalaya Construction IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Shivalaya Construction NUMBER OF SHARES ON OFFER
Shivalaya Construction FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 3,124.5 | 343.8 | -942.4 | -952.2 | 24.8% |
| FY24 | 3,537.6 | 589.0 | -653.9 | -684.3 | 27.9% |
| FY23 | 2,731.5 | 503.2 | 91.1 | 31.7 | 28.5% |
Shivalaya Construction INFORMATION ON IPO ISSUE
About Shivalaya Construction
Shivalaya Construction was incorporated on December 10, 1997. The company executes projects on an EPC (engineering, procurement, and construction) or HAM (hybrid annuity model) basis. Its EPC business covers highways, bridges, buildings, and water works, while the HAM business focuses on developing roads and highways
Object of the Issue
- Pre-payment or re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Shivalaya Construction - PROMOTERS
| Name |
|---|
| Shripal Aggarwal |
| Pradeep Nandal |
| Sumitra Nandal |
| Sahil Aggarwal |
| Sumit Nandal |
Shivalaya Construction - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Shripal Aggarwal | Chairman & Managing Director |
| Pradeep Nandal | Whole-time Director |
| Sahil Aggarwal | Whole-time Director |
| Sumit Nandal | Whole-time Director |
| Arvind Kumar Jain | Independent Director |
| Shishir Bansal | Independent Director |
| Gauri Shankar | Independent Director |
| Jyoti Kamaal | Independent Director |
Shivalaya Construction Book Running Lead Manager
IIFL Capital Services Limited
shivalaya.ipo@iiflcap.com
Axis Capital Limited
shivalaya.ipo@axiscap.in
JM Financial Limited
shivalaya.ipo@jmfl.com
Shivalaya Construction Registrar to the Offer
MUFG Intime India Private limited
shivalayaconstruction.ipo@in.mpms.mufg.com
Shivalaya Construction Strengths
In-house repair & maintenance
They own a modern fleet of construction equipment, from small tools to advanced machinery, ensuring flexible deployment without third-party delays. An in-house repair and maintenance workshop further enables quick turnaround during breakdowns or overhauls
Order book
The company's order book reflects unexecuted contract value of ongoing projects, adjusted for work done and scope changes. Backed by decades of experience and presence in 19 states, they continue to win challenging projects and expand their order book
Project execution capabilities
Since 1997, the company have executed major projects, often in challenging conditions, leveraging in-house resources for most work—68–73% in Fiscal years 2023–2025. This integrated approach ensures control over design, engineering, procurement, and construction, reducing third-party dependence, improving timelines, quality, and cost efficiency
Shivalaya Construction Risks
Dependent on bidding
The company primarily secures projects through competitive bidding, which depends on meeting technical, financial, and qualification criteria. Failure to qualify, compete effectively, or win bids could negatively impact the business and operations
Project implementation risks
The company's projects face implementation risks that may cause construction delays, contract termination, cost overruns, or damage claims, impacting cash flow and operations. Risks include equipment failure, accidents, fire, environmental damage, material supply delays, land acquisition issues, regulatory delays, and disputes with partners
Dependent on road projects
The company primarily depends on road projects in India awarded by government entities. Losing any of these contracts could significantly impact its operations and financial results, as its EPC and HAM services focus on road and highway construction and development
IPO FAQs
The promoters of the company are Shripal Aggarwal, Pradeep Nandal, Sumitra Nandal, Sahil Aggarwal and Sumit Nandal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.