Current Infraprojects IPO Opens Today: ₹41.80 Crore SME Issue, Price Band ₹76-₹80

Mumbai, August 26, 2025 – Current Infraprojects Limited (NSE SME: CURRENT) has opened its ₹41.80 crore Initial Public Offer (IPO) for subscription today. The book-built issue involves a fresh issue of 0.52 crore equity shares at a price band of ₹76–₹80 per share.

The bidding period will be between August 26-29, 2025, with a finalization date on September 1, 2025, to be listed on NSE Emerge on September 3, 2025.

IPO Structure

Current Infraprojects’ IPO comprises 52.25 lakhs shares worth ₹41.80 crore. QIBs to hold 50%, NIIs 15%, RIIs 35%, employees 1.9% and market makers 5.1%. There is representative participation across investor types. The IPO lot is 1,600 shares (₹1,28,000 at the upper band). The issue’s registrar is Bigshare Services, Lead manager is Holani Consultants, and the Sponsor Bank is HDFC Bank.

Anchor Investor Participation

Current Infraprojects issued 14,52,800 shares to seven anchor investors at a price of ₹80 per share on August 25, which totalled 11.62 crore. The larger investors included Holani Venture Capital Fund, Menu Investment Fund PCC – Cell 1 and Mint Focused Growth Fund PCC – Cell 1.

Use of Proceeds

According to the RHP, the suggested uses of proceeds from the IPO will consist of the investment of ₹5.85 crore to fund its subsidiary’s establishment of a 1,800 KW solar plant at IIT (ISM) Dhanbad. An estimate of ₹30 crore for working capital requirements, and the balance toward general corporate purposes, allowing for business expansion and growth overall.

Key Risks as per RHP

RHP lists several risks for Current Infraprojects. The company is dependent on EPC contracts as of FY25 for over 97% of its revenues. Not only that, but the company is also geographically dependent — 81% of revenues come from the company’s top 10 clients, by way of nine different states, a big portion of which comes from Rajasthan, Kerala, and Uttar Pradesh. The company has a high working capital gap of ₹3,375.53 lakh.

The company has ongoing tax proceedings, amounting to ₹2.09 crore, contingent liabilities of ₹27.98 crore, and had an attrition rate of 57.7% in FY25.

Financial Highlights (Restated)

Current Infraprojects has indicated strong growth and sustainability. Revenue from operations grew to ₹9,088.42 lakh in FY25, compared to ₹7,756.78 lakh in FY24 and ₹6,096.10 lakh in FY23. Profit after tax nearly doubled to ₹945.37 lakh in FY25, compared to ₹508.92 lakh in FY24. Net worth improved to ₹2,372.81 lakh, but borrowings incurred increased to ₹3,060.37 lakh. EPS improved to ₹7.00 in FY25, demonstrating its growth in profitability.

Promoter Holding

Before the IPO, the promoters and the promoter group held 96.96% of the company’s shares, while public ownership was only 3.04%. Post-issue, the promoter holding will have decreased to 71.53% while public ownership will have grown substantially to 28.47% increasing the ownership base of the company and increasing the market float.

What Investors Should Look For?

Infraprojects Limited is launching its IPO for bids today, with reservations that may impact its closing. As it is an SME IPO, investors should consider liquidity risks. At the same time, investors should consider revenue growth, consistency in profitability, and evaluate the company’s long-term structural and renewable energy infrastructure.

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