Swastika Infra IPO
Power Infrastructure • ₹161cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- Heavy dependence on government or PSU customers
- Working capital or debt pressure highlighted in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹175-185
Lot Size
81 shares
Issue Size
₹161cr
Open
23 Sept 2026
Close
25 Sept 2026
Subscription
7.43×
GMP +₹5 → est. ₹190
IPO Schedule
| Issue Open Date | 23 Sept 2026 |
| Issue Close Date | 25 Sept 2026 |
| Allotment Date | 28 Sept 2026 |
| Listing Date | 30 Sept 2026 |
About Swastika Infra
Swastika Infra is an engineering, procurement, and construction company that specializes in power distribution infrastructure projects on a turnkey basis and trades in electrical products. Its primary business activity involves executing power infrastructure contracts, including underground cabling, gas-insulated and air-insulated substations, rural and urban electrification, and street lighting system installations. The company generates revenue by delivering end-to-end EPC services—from design, procurement, and supply to erection, testing, and commissioning—and through the sale of electrical products such as cables and circuit breakers. Serving state electricity distribution companies, central government-backed initiatives, and multilateral bank-funded developments, it operates across multiple Indian states. Supported by internal operational and project execution capabilities, the company focuses on securing government utility contracts while utilizing bulk procurement strategies to manage material requirements for its power projects.   
Company Details
Founders / Promoters
Mr Vinay Gupta
Founded
1969
Registrar
LINK
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Grey Market Premium (GMP)
Issue Price
₹185
GMP
+₹5
Est. Listing
₹190
Est. Gain
+2.7%
GMP is unofficial grey market data — not regulated by SEBI. Use only as a sentiment indicator alongside subscription data. View all IPO GMP →
Investment Analysis
Swastika Infra — IPOFins Verdict
QuantitativeDriven by QIB demand at 3.2x and moderate disclosed risk (6/10). The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- Strong execution capabilities in turnkey power distribution infrastructure projects.
- Order book growth supported by state power utilities and multilateral funds.
- Geographical presence across multiple Indian states executing EPC contracts.
- Record of revenue growth and profitability in recent years.
- Integrated bulk procurement strategy for core materials like cables and transformers.
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +1.0
Strong retail interest → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
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FAQ
What is the price band of Swastika Infra IPO?
The price band is ₹175-185 per share with a lot size of 81 shares. Minimum investment: ₹14,985.
What does Swastika Infra do?
Swastika Infra is an engineering, procurement, and construction company that specializes in power distribution infrastructure projects on a turnkey basis and trades in electrical products. Its primary business activity involves executing power infrastructure contracts, including underground cabling, gas-insulated and air-insulated substations, rural and urban electrification, and street lighting system installations. The company generates revenue by delivering end-to-end EPC services—from design, procurement, and supply to erection, testing, and commissioning—and through the sale of electrical products such as cables and circuit breakers. Serving state electricity distribution companies, central government-backed initiatives, and multilateral bank-funded developments, it operates across multiple Indian states. Supported by internal operational and project execution capabilities, the company focuses on securing government utility contracts while utilizing bulk procurement strategies to manage material requirements for its power projects.   
Should I apply for Swastika Infra IPO?
Swastika Infra is drawing moderate interest at 7.4x overall subscription (QIB 3.2x, retail 5.1x). IPOFins Score 6/10: Driven by QIB demand at 3.2x and moderate disclosed risk (6/10). The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Swastika Infra?
Swastika Infra was founded by Mr Vinay Gupta in 1969.