Sai Urja Indo IPO Subscription Day 1: Issue Subscribed 0.04 Times

Mumbai, September 25: Sai Urja Indo IPO received bids for 58,800 shares against 14,05,200 shares offered to the public on the first day of bidding, resulting in an overall subscription of 0.04 times.

The NII category was subscribed 0.07 times, while the individual investors category saw subscription of 0.05 times. The QIB (Ex Anchor) portion remained unsubscribed, with no bids recorded as of the latest update.

Within the NII segment, the portion for applications above ₹10 lakh was subscribed 0.05 times, while the portion for applications below ₹10 lakh was subscribed 0.11 times.

The Sai Urja Indo IPO opened for subscription on September 25, 2026, and will remain open until September 29, 2026.

Sai Urja Indo IPO Subscription Status

The QIB (Ex Anchor) portion had 3,92,400 shares on offer but received no bids, leaving the category with a subscription of 0.00 times.

The NII category received bids for 20,400 shares against 3,02,400 shares available, resulting in a subscription of 0.07 times.

Within the NII segment, the bNII category, covering applications above ₹10 lakh, received bids for 9,600 shares against 2,01,600 shares offered, translating into a subscription of 0.05 times.

The sNII category, covering applications below ₹10 lakh, received bids for 10,800 shares against 1,00,800 shares, resulting in a subscription of 0.11 times.

The individual investors category received bids for 38,400 shares against 7,10,400 shares reserved for the segment, taking the subscription to 0.05 times.

Overall, investors bid for 58,800 shares against 14,05,200 shares offered to the public. The total amount of bids stood at around ₹0.664 crore, based on the upper end of the price band.

The issue had received 22 applications as of the latest update.

The subscription figures were updated at 5:04 PM on September 25, 2026.

Day-wise Sai Urja Indo IPO Subscription

Date	QIB (Ex Anchor)	NII	NII (> ₹10L)	NII (< ₹10L)	Individual Investors	Total
Sep 25 (Day 1)	0.00x	0.07x	0.05x	0.11x	0.05x	0.04x

The Sai Urja Indo IPO will remain open for subscription until September 29, 2026.

Sai Urja Indo IPO Details

Sai Urja Indo IPO is a ₹24.95 crore book-built issue, comprising a fresh issue of 18.29 lakh shares aggregating to ₹20.67 crore and an offer for sale of 3.79 lakh shares aggregating to ₹4.28 crore.

The IPO has a price band of ₹107 to ₹113 per share and a lot size of 1,200 shares. At the upper end of the price band, the minimum investment required for an individual investor is ₹2,71,200, equivalent to 2,400 shares or two lots.

For HNI investors, the minimum application is 3 lots, or 3,600 shares, requiring an investment of ₹4,06,800.

The issue opened for subscription on September 25, 2026, and will close on September 29, 2026.

Sai Urja Indo is proposed to list on the BSE SME platform, with a tentative listing date of October 5, 2026.

Shannon Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue. Prabhat Financial Services Ltd. is the market maker.

Sai Urja Indo IPO Issue Size

The total issue comprises 22,08,000 shares, including 2,16,000 shares reserved for the market maker.

Particulars	Details
Total Issue Size	22,08,000 shares
Fresh Issue	18,29,?00 shares
Fresh Issue Amount	₹20.67 crore
Offer for Sale	3,79,200 shares
Offer for Sale Amount	₹4.28 crore
Market Maker Reservation	2,16,000 shares
Net Offered to Public	19,92,000 shares
Face Value	₹10 per share
Price Band	₹107 to ₹113
Lot Size	1,200 shares
Issue Type	Bookbuilding IPO
Listing Platform	BSE SME

Note: The screenshot’s issue-size figures show the fresh issue as 16,12,800 shares (₹18 crore) after excluding the market-maker portion, while the headline describes the fresh issue as 18.29 lakh shares aggregating to ₹20.67 crore. The reservation table uses the post-market-maker structure, so the figures above should be kept aligned with the source page when publishing.

Sai Urja Indo IPO Reservation

Sai Urja Indo IPO comprises a total issue size of 22,08,000 shares. After excluding 2,16,000 shares reserved for the market maker, 19,92,000 shares are available to public investors.

The issue has been reserved across QIB, NII and retail categories as follows:

Investor Category	Shares	% of Net Issue	% of Total Issue
QIB	9,79,200	49.16%	44.35%
NII (HNI)	3,02,400	15.18%	13.70%
Retail	7,10,400	35.66%	32.17%
Market Maker	2,16,000	—	9.78%
Total	22,08,000	100.00%	100.00%

The QIB allocation includes 5,86,800 shares reserved for anchor investors, representing 26.58% of the total issue.

Sai Urja Indo IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter.

Application	Lots	Shares	Amount
Individual Investors (IND) Min	2	2,400	₹2,71,200
Individual Investors (IND) Max	2	2,400	₹2,71,200
S-HNI (Min)	3	3,600	₹4,06,800
S-HNI (Max)	7	8,400	₹9,49,200
B-HNI (Min)	8	9,600	₹10,84,800

Sai Urja Indo IPO Anchor Investors

Sai Urja Indo IPO raised ₹6.63 crore from anchor investors ahead of the public issue.

The anchor bidding took place on September 24, 2026, with 5,86,800 shares allotted to anchor investors.

The lock-in period for 50% of the anchor shares ends on October 28, 2026, while the lock-in period for the remaining shares ends on December 27, 2026.

Sai Urja Indo IPO Allotment and Listing

The Sai Urja Indo IPO is currently open for subscription and will close on September 29, 2026.

The tentative Sai Urja Indo IPO allotment date is September 30, 2026. Refunds are scheduled for October 1, while shares are expected to be credited to successful applicants on the same day.

The IPO is tentatively scheduled to list on the BSE SME platform on October 5, 2026.

Sai Urja Indo IPO Timeline

Event	Date
IPO Open	September 25, 2026
IPO Close	September 29, 2026
Allotment	September 30, 2026
Refund	October 1, 2026
Credit of Shares	October 1, 2026
Listing	October 5, 2026

About Sai Urja Indo Ventures Ltd.

Incorporated in 2012, Sai Urja Indo Ventures Ltd. offers operation and maintenance (O&M) and other support services in industrial plants, primarily in the power generation industry, as well as industries such as iron and steel and agrochemicals.

The company’s work includes managing electrical, mechanical and instrumentation systems, operating coal-handling and merry-go-round systems in power plants, ensuring plant cleanliness and safety through industrial housekeeping, carrying out equipment overhauls and providing manpower supply.

Conclusion

The Sai Urja Indo IPO opened for subscription on September 25 and was subscribed 0.04 times on Day 1.

The NII segment recorded subscription of 0.07 times, while individual investors subscribed 0.05 times of their reserved portion. The QIB (Ex Anchor) category remained at 0.00 times as of the latest update.

Overall, investors bid for 58,800 shares against 14,05,200 shares offered to the public.

The IPO will remain open until September 29, with the Sai Urja Indo IPO allotment scheduled for September 30 and the tentative BSE SME listing slated for October 5, 2026.

Source:

• https://www.bseindia.com/markets/publicissues/displayipo?id=4847&type=IPO&idtype=1&status=L&IPONo=7996&startdt=25%2F09%2F2026