Shivalaya Construction Limited

Shivalaya Construction (NEW IPO): GMP, Price, Review, Profit

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Shivalaya Construction Limited is an integrated infrastructure engineering, procurement and construction (EPC) company focused on building roads, highways, bridges, flyovers and other transportation projects across India.

Shivalaya Construction Limited completed 41 major projects across 19 states/UTs, building 2,700+ lane‑kms of highways and has 1,500+ lane‑kms under execution with a ₹3,600+ Cr order book. It is an infrastructure EPC (engineering, procurement, and construction) player specialising in roads, highways, bridges, flyovers and railway overbridges across India.

Shivalaya Construction Limited was incorporated in 1997 and currently Mr. Shripal Aggarwal serves as the Chairman & Managing Director of the company.

Shivalaya Construction Limited filed its DRHP with SEBI proposing an IPO of ₹ 450 Cr + 24,861,900 Equity Shares consisting of ₹ 450 Cr as Fresh Issue along with an Offer‑for‑Sale (OFS) of 24,861,900 Equity Shares by promoters.

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹ 450 Cr + 24,861,900 Equity Shares
Fresh Issue:₹ 450 Cr
Offer for Sale:24,861,900 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Shivalaya Construction Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 2149.46 Cr
Revenue:₹ 3124.52 Cr
EBITDA₹ 776.23 Cr
PAT₹ 359.82 Cr
EBITDA Margin:~24.84%
PAT Margin~11.52%
Face Value:₹ 2

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Setting new Glass Processing Unit~ ₹ 00 Cr
Setting Up New Stores~ ₹ 00 Cr
Borrowing prepayment~ ₹ 340 Cr
General Corporate PurposeBalance

Shivalaya Construction Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 2731.5₹ 3537.6₹ 3124.5
PAT (₹ Cr)₹ 522.1₹ 600.6₹ 259.8
Asset (₹ Cr)₹ 3183.1₹ 5125.4₹ 6630.7
Net Worth (₹ Cr)₹ 1227.4₹ 1810.8₹ 2149.5

Shivalaya Construction Ltd IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
28-Mar₹ –₹ –₹ –
27-Mar₹ –₹ –₹ –
26-Mar₹ –₹ –₹ –
25-Mar₹ –₹ –₹ –
24-Mar₹ –₹ –₹ –
Shivalaya Construction Limited

Shivalaya Construction Limited Pro’s & Con’s

Strengths:

  • Established EPC player with 25+ years of experience in road and infrastructure projects.
  • Strong order book of ₹ 3,600+ Crore, ensuring revenue visibility.
  • Experienced management team led by MD Shripal Aggarwal.
  • Focus on government road and highway projects, offering stable project inflow.
  • IPO proceeds will be used primarily for debt repayment, improving financial leverage.

Risks:

  • Highly competitive infrastructure sector with intense bidding pressure.
  • Revenue dependent on government contracts, which can face delays.
  • Execution risks in large-scale construction projects may affect margins.
  • Exposure to raw material price fluctuations impacting profitability.

Shivalaya Construction Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
Shripal Aggarwal~ 42.94 %
Pradeep Nandal~ 23.26 %
Sumitra Nandal~ 21.70 %
Sahil Aggarwal~ 3.96 %
Sumit Nandal~ 0.57 %
–

Shivalaya Construction Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Shivalaya Construction Limited

Lead / Book Running Lead ManagersIIFL Capital Services Limited, Axis Capital Limited, JM Financial Limited
Registrar (RTA)MUFG Intime India Private Limited

FAQ’s of Shivalaya Construction Limited

  • It is an EPC infrastructure firm building roads, highways, flyovers and bridges across India with a strong order book and project track record.

  • Shivalaya Construction is raising funds via IPO to repay debt and support general corporate purposes, reducing leverage.

  • The issue size comprises of ₹450 Cr as fresh issue + OFS of ~2.48 Cr equity shares. It will be listed on BSE and NSE platform.

  • Key risks include infrastructure execution delays, earnings volatility, competitive pressure, and debt levels affecting returns.

  • Upsides include robust order book, infrastructure demand tailwinds and debt reduction improving financial health.

  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers.

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