Absolute Projects (India) Ltd. IPO Details
Absolute Projects (India) was incorporated on February 7, 1995. The company is an EPC player with over three decades of experience in power transmission and distribution projects, supported by in-house manufacturing capabilities. Its services cover the full project lifecycle, including design, procurement, installation, and commissioning of electrical infrastructure
| 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 |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 20.0 M | - | - | ₹0 | DRHP DOC |
Absolute Projects issue details
Absolute Projects has 20.0 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Absolute Projects 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 |
Absolute Projects NUMBER OF SHARES ON OFFER
Absolute Projects 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 |
| H1FY26 | 135.8 | 9.4 | -25.8 | -30.0 | 10.5% |
| FY25 | 306.7 | 21.0 | -70.4 | -74.9 | 9.5% |
| FY24 | 248.2 | 14.6 | 11.7 | 11.6 | 8.3% |
| FY23 | 141.0 | 2.9 | -7.0 | -10.7 | 4.3% |
Absolute Projects INFORMATION ON IPO ISSUE
About Absolute Projects
Absolute Projects (India) was incorporated on February 7, 1995. The company is an EPC player with over three decades of experience in power transmission and distribution projects, supported by in-house manufacturing capabilities. Its services cover the full project lifecycle, including design, procurement, installation, and commissioning of electrical infrastructure
Object of the Issue
- Funding capital expenditure towards procurement of plant and machinery for modernization of manufacturing facility, procurement of plant and machinery for commencement of operations at manufacturing facility and certain equipment and machineries required for execution of power EPC projects
- Repayment or pre-payment, in part or full of certain borrowings availed by the company
- Funding of working capital requirement of the company
- General corporate purposes
Absolute Projects - PROMOTERS
| Name |
|---|
| Ranjeet Singh Ola |
| Deependra Singh Ola |
| Monika Bhukar Ola |
| Sunita Ola Dhaka |
| Vaishali Ola |
| Kamla Devi Ola |
Absolute Projects - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ranjeet Singh Ola | Chairman & Managing Director |
| Deependra Singh Ola | Whole-Time Director & Executive Director |
| Monika Bhukar Ola | Executive Director |
| Madan Singh Kala | Non-Executive Independent Director |
| Brajendra Kumar | Non-Executive Independent Director |
| Madhav Singh | Non-Executive Independent Director |
Absolute Projects Book Running Lead Manager
Cumulative Capital Private Limited
absolute.ipo@cumulativecapital.group
Absolute Projects Registrar to the Offer
MUFG Intime India Private Limited
absoluteprojects.ipo@in.mpms.mufg.com
Absolute Projects Strengths
Project management & execution capabilities
The company has evolved from executing small-scale private EPC projects to undertaking larger government and international contracts. Its in-house manufacturing capabilities enable backward integration, improving project coordination, input control, and execution efficiency
Strong order book
The company’s order book represents estimated revenue from unexecuted contracts, providing visibility on future project execution. As of December 31, 2025, it had a strong order book across multiple business verticals, supporting revenue growth
In-house manufacturing
The company’s business model is supported by integrated capabilities including EPC execution, in-house manufacturing, civil construction, and O&M services. This backward integration enhances project coordination, diversifies revenue, and strengthens execution across the power infrastructure value chain
Absolute Projects Risks
Non-compliance risks
The company is subject to stringent quality standards in its EPC and manufacturing operations, and any failure to meet these may lead to order cancellations, liabilities, or reputational damage. Non-compliance with technical specifications or regulatory requirements could adversely impact its operations and financial performance
Project execution & cost overrun risks
The company’s Power EPC projects involve long execution cycles and are exposed to risks of delays and cost overruns due to multiple dependencies. Any mismatch between estimated and actual timelines or costs may adversely impact its revenues, margins, and financial performance
Competition
The company operates in a highly competitive EPC industry, facing pressure from existing players and new entrants. Increased competition and aggressive bidding may impact its ability to secure projects and affect financial performance
IPO FAQs
The promoters of the company are Ranjeet Singh Ola, Deependra Singh Ola, Monika Bhukar Ola, Sunita Ola Dhaka, Vaishali Ola and Kamla Devi Ola.
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%.