Telge Projects Files DRHP for IPO
By Ankur Chandra | Published at: Jul 14, 2025 12:58 PM IST
Mumbai, 14 July 2025: Telge Projects Limited has officially filed its Draft Red Herring Prospectus (DRHP) with BSE to launch an initial public offering (IPO) comprising up to 25,94,400 equity shares. With this move, the company plans to debut on the BSE SME platform. This will be a 100% fresh issue without any offer-for-sale component, and the final issue price will be determined through a book-building process.
Telge Projects’ IPO is in accordance with SEBI’s ICDR Regulations, 2018 (Regulations 229(1), 253(1), and 253(2)). The funds raised will support the company’s plans to expand domestic operations and strengthen its international footprint.
IPO Details
| Particulars | Details |
|---|---|
| Type of Issue | 100% Book Built Fresh Issue |
| Equity Shares Offered | Up to 25,94,400 equity shares |
| Face Value | ₹10 per share |
| Issue Price | To be determined via book building |
| Offer for Sale (OFS) | Nil |
| Proposed Listing | BSE SME Platform |
| Book Running Lead Manager | Smart Horizon Capital Advisors Pvt Ltd |
| Registrar | Bigshare Services Pvt Ltd |
Funds to Bolster Office Space, Tech Upgrades, and Talent Acquisition
The net proceeds from the issue will be used primarily for infrastructure development and talent investment, both in India and overseas. The company has earmarked the following allocations:
Purpose of the IPO
| Object of the Issue | Amount (₹ in lakhs) |
|---|---|
| Acquisition of additional office premises in Pune, Maharashtra | 895.00 |
| Purchase of computers, accessories, and software subscriptions | 243.69 |
| Hiring manpower for Indian operations | 417.96 |
| Investment in US subsidiary (Telge Projects Inc) for hiring staff | 485.50 |
| General Corporate Purposes | [●] |
| Total Estimated Utilization | [●] |
Telge Projects has identified a 7,382 sq. ft. office space at Om Chambers, Bhosari, Pune for expansion. It also plans to invest in 30 Tekla Structures Diamond and 10 Graphite software licenses, along with high-performance workstations to strengthen technical capacity.
Engineering Services with Global Reach and Diversified Clientele
Established in January 2018, Telge Projects Limited is an integrated engineering design company offering services across:
- Building Information Modeling (BIM)
- Structural design and detailing
- 2D Drafting
- Material Take-Offs (MTO)
- Architectural and pre-construction support
The company caters to EPC contractors, infrastructure developers, and fabricators in India and across 11 countries. Major revenue contributors include the USA, UK, and Australia, accounting for over 90% of revenue in FY25.
Telge also operates through its U.S.-based subsidiary, Telge Projects Inc., which holds two step-down entities – Midwest Detailing LLC and Draftco Inc.
Revenue Doubled in a Year as Profitability and Margins Strengthen
The company has posted robust financial growth over the past two years, with both revenue and net profit witnessing significant upticks.
Financial Highlights
| Particulars | FY25 (Consolidated) | FY24 (Consolidated) | FY23 (Standalone) |
|---|---|---|---|
| Revenue from Operations | ₹2,508.29 lakh | ₹1,241.05 lakh | ₹744.01 lakh |
| Net Profit | ₹538.07 lakh | ₹265.63 lakh | ₹89.96 lakh |
| EBITDA | ₹826.86 lakh | ₹381.32 lakh | ₹145.57 lakh |
| EBITDA Margin | 32.97% | 30.73% | 19.57% |
| PAT Margin | 21.45% | 21.40% | 12.09% |
| EPS (Basic & Diluted) | ₹7.60 | ₹4.43 | ₹1.50 |
| Net Worth | ₹1,133.68 lakh | ₹465.62 lakh | ₹208.93 lakh |
| ROE | 67.29% | 78.76% | 54.87% |
| Debt-to-Equity Ratio | 0.83x | 0.59x | 1.20x |
The company’s rising EBITDA and PAT margins reflect improved operational efficiencies and profitability.
Recent Bonus Issue Enhances Equity Base Ahead of IPO
Promoter Ms. Shraddha Shailesh Telge holds 97.28% of the pre-IPO equity. A 6:1 bonus issue of 61,67,784 equity shares was executed on 26 June 2025 through reserve capitalization. The company has not made any other rights issues or preferential allotments in the past year.
US Subsidiary Registers Strong Growth Backed by Expanding Operations
As part of its global expansion plan, Telge Projects will allocate ₹485.50 lakh to its wholly owned subsidiary Telge Projects Inc. (USA) to support staff hiring, including project and business development managers. The US entity delivered the following financial results in FY25:
Telge Projects Inc. (USA) Performance
| Metric | FY25 | FY24 |
|---|---|---|
| Revenue | ₹1,784.43 lakh | ₹863.18 lakh |
| Net Profit | ₹196.02 lakh | ₹55.33 lakh |
| Net Worth | ₹679.10 lakh | ₹232.48 lakh |
Leadership Confirms IPO as Key to Enhancing Capabilities and Global Presence
“This IPO is a strategic milestone that will enable us to build infrastructure in Pune, strengthen overseas operations, and enhance service delivery through technology and skilled talent,” said Ms. Shraddha Telge, Managing Director and CEO.
Focused on Civil and Structural Design, Company Eyes Global Expansion Post-IPO
Headquartered in Pune, Telge Projects Limited is ISO 9001:2015 certified and specialises in engineering design and BIM services for steel and precast structures. The upcoming IPO and subsequent listing on the BSE SME platform are expected to reinforce its service offerings and global outreach.
Note: Final issue price, IPO schedule, and total proceeds will be disclosed in the Red Herring Prospectus.
REF: https://www.bsesme.com/download/377843/SME_IPO InPrinciple/TelgeProjectsLimited_20250712001746.pdf
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