Swastika Infra files IPO papers with SEBI; aims to raise ₹200 cr via fresh issue

The company is looking to mop up ₹40 crore in the pre-IPO round.
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JOTHI RAMALINGAM B

Swastika Infra, an EPC solutions provider in power distribution infrastructure projects, has filed preliminary papers with markets regulator SEBI seeking its approval to raise funds through an Initial Public Offering (IPO).

The Jaipur-based company’s IPO is a combination of a fresh issue of shares worth ₹200 crore and an Offer For Sale (OFS) of 19.2 lakh shares by promoters and other shareholders, according to the Draft Red Herring Prospectus (DRHP).

The company is looking to mop up ₹40 crore in the pre-IPO round, and if such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issue to the tune of ₹145 crore have been earmarked for funding, incremental working capital requirement; besides, a portion will be used for general corporate purposes, the draft papers filed on March 30 showed.

Swastika Infra is an engineering, procurement and construction (EPC) company, specialising in the execution of power distribution infrastructure projects.

The company executed EPC power projects, covering a total of 8,519.50 circuit kilometers of distribution lines as of February 2025. Its portfolio includes 34 completed power distribution infrastructure projects across four Indian states.

In addition to revenue from its EPC power projects, the company also derives a proportion of revenue from the procurement and selling of power cables and other electrical items.

Srujan Alpha Capital Advisors LLP and PhillipCapital (India) are the book-running lead managers responsible for managing the company’s maiden public issue.

Published on April 4, 2025