Swastika Infra Limited

Total Issue Size

₹160.88 Cr

86,95,946 shares

Fresh Issue

₹128.5 Cr

69,45,946 shares

Offer for Sale

₹32.38 Cr

17,50,000 shares

Face Value

₹10 per share

Issue Type

Book-built IPO

Listing At

BSE, NSE

Shares Pre-Issue

2,71,74,242

Shares Post-Issue

3,41,20,188

1. Offer opens

   23 Sept 2026

2. Offer closes

   25 Sept 2026

3. Allotment

   28 Sept 2026

4. Listing

   30 Sept 2026

Subscription figures will appear here once bidding opens on 23 Sept 2026.

Incorporated in August 2019, Swastika Infra Limited is an engineering, procurement and construction (EPC) company specializing in power transmission and distribution (T&D) infrastructure projects.The Company provides turnkey EPC solutions covering the supply, erection, installation, testing and commissioning of power infrastructure. Its key areas of work include underground cabling, construction of Gas Insulated Substations (GIS), Air Insulated Substations (AIS) and Grid Substations, rural and urban electrification, street lighting and renewable energy works. Its projects involve installation of power transformers, circuit breakers, ring main units and other electrical infrastructure required for power distribution. As of July 31, 2026, the Company had completed 36 EPC Power Projects across six Indian states, covering 18,579.47 km of distribution lines, with an aggregate contract value of ₹76,467 lakh. Its order book comprised 18 ongoing EPC Power Projects across six states with an aggregate order value of ₹2,03,665 lakh. The Company has executed projects for government utilities including WBSEDCL, MGVCL, APDCL, GED, HPSEBL, UHBVN, JVVNL, UPCL, AVVNL, RSDCL, MSEDCL and RRVPNL. A significant portion of its projects are funded by the World Bank or supported by the Ministry of Power, Government of India. The Company follows an asset-light business model, with erection work typically assigned to third-party contractors while its centralized procurement team supplies construction materials and electrical equipment. Its in-house project engineers and managers oversee project execution, quality, design specifications and timelines. The Company has a dedicated team of 65 engineers and technicians across electrical, mechanical and civil disciplines. As of July 31, 2026, the Company had 182 full-time employees, including 65 Engineers & Technicians and 52 Project Execution Supervisors & Others. Competitive Strengths Experienced promoters and management team. Asset-light business model with centralized procurement. Scalable business model supported by a strong order book. Proven execution track record across multiple Indian states. Established track record with government utilities and infrastructure clients. Strong project management and execution capabilities in EPC Power Projects. Diversified capabilities across power distribution, transmission and renewable energy.

• Funding of incremental working capital requirements of the company (₹90.00 Cr)
• General Corporate Purposes

• <p>Babulal Gupta
• Vinay Gupta
• Ruchira Gupta
• Biren Parnami
• Manoj Modi
• Vatsalya Gupta</p>

Book running lead managers

• Srujan Alpha Capital Advisors LLP
• PhillipCapital India Pvt.Ltd.

Registered office

Plot no.14 &15, First Floor, Gajraj Apartment, Motilalatal Road, Opposite Hotel Neelam, Jaipur, Rajasthan, 302001

• DRHPDraft Red Herring Prospectus
• RHPRed Herring Prospectus