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SAIURJA · BSE · Other Consumer Services
Sai Urja Indo IPO opens for subscription from 25 Sep 2026 to 29 Sep 2026. The SME IPO has a price band of ₹107-₹113 , with a face value of ₹10 per share and lot size of 1,200 shares . The IPO will list on 05 Oct 2026 on BSE.
Sai Urja Indo IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 25 Sep 2026 |
| IPO Close Date | 29 Sep 2026 |
| Basis of Allotment | 30 Sep 2026 |
| Initiation of Refunds | 01 Oct 2026 |
| Credit of Shares to Demat | 01 Oct 2026 |
| Listing Date | 05 Oct 2026 |
Issue Size
2,208,000 shares
(aggregating up to ₹24.51 Cr)
Issue Price
₹107 – ₹113
Face Value
₹10/share
Market Lot
1,200 shares
Retail Min Investment
₹271,200
Listing At
BSE
Sale Type
both
Fresh Issue
1,612,800 shares
(aggregating up to ₹18.22 Cr)
Offer for Sale
379,200 shares
(aggregating up to ₹4.28 Cr)
Reserved for Market Maker
216,000 shares
(aggregating up to ₹2.00 Cr)
Issue Type
book building
Open Date
25 Sep
Close Date
29 Sep
Allotment
30 Sep
Listing
05 Oct
Last updated: 12 hours ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 25 Sep 2026 Latest | ₹113 | ₹0 | ₹113 | ₹0 |
0%
|
7:11 PM |
| 25 Sep 2026 | ₹113 | ₹0 | ₹113 | ₹0 |
0%
|
6:16 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 25 Sep 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | - | - |
| NII | 0.07x | - |
| bNII (bids above ₹10L) | 0.05x | - |
| sNII (bids below ₹10L) | 0.11x | - |
| Individual Investors | 0.05x | - |
| Total | 0.04x | - |
Showing the latest subscription snapshot.
View full subscription historyHarsh Ajaykumar Mittal, Santosh Ajay Kumar Mittal
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹271,200 |
| Retail (Max) | 2 | 2,400 | ₹271,200 |
| S-HNI (Min) | 3 | 3,600 | ₹406,800 |
| S-HNI (Max) | 7 | 8,400 | ₹949,200 |
| B-HNI (Min) | 8 | 9,600 | ₹1,084,800 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 979,200 (49.16%) |
|
•
Anchor Investor Shares Offered
|
586,800 (29.46%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
392,400 (19.70%) |
| NII (HNI) Shares Offered | 302,400 (15.18%) |
|
•
bNII > ₹10L
|
201,600 (10.12%) |
|
•
sNII < ₹10L
|
100,800 (5.06%) |
| Retail Shares Offered | 710,400 (35.66%) |
| Total Shares Offered | 1,992,000 (100.00%) |
Sai Urja Indo Ventures Limited was incorporated in May 2012 and is headquartered in Nagpur, Maharashtra. It works in the industrial services sector, providing operations and maintenance (O&M) services to industrial plants.
The company offers O&M and related support services primarily to the power generation, iron and steel, and agrochemicals industries, including managing electrical, mechanical and instrumentation systems, operating coal handling and merry-go-round systems in power plants, and providing industrial housekeeping, equipment overhauls and manpower supply. Over the three years before its IPO filing, it served 21 locations across 10 states, working with clients including Adani Infrastructure Management Services Limited, GMR Warora Energy Limited and Maharashtra State Power Generation Company Limited (MAHAGENCO). It is ISO 9001:2015 and ISO 45001:2018 certified and employed about 2,469 people as of its DRHP filing. The promoters are Santosh Ajay Kumar Mittal and Harsh Ajaykumar Mittal.
Revenue from operations rose to Rs 65.52 crore in FY25 from Rs 45.62 crore in FY24, with profit after tax rising to Rs 3.14 crore in FY25 from Rs 1.37 crore in FY24, as per the DRHP. The IPO is an SME book-built issue proposed to be listed on the BSE SME platform, comprising a fresh issue of 30,66,000 equity shares and an offer for sale of up to 3,12,000 equity shares by the promoters, with the price band yet to be announced. Net proceeds from the fresh issue are proposed to be used for funding working capital requirements (Rs 8 crore), prepayment or repayment of certain borrowings (Rs 6 crore), and general corporate purposes and offer-related expenses.
Standalone · ₹ in Crores
| Particulars | FY Mar 2024 | FY Mar 2025 | FY Mar 2026 |
|---|---|---|---|
| Total Revenue | 45.88 | 65.82 | 85.64 |
| Profit After Tax (PAT) | 1.39 | 3.13 | 4.19 |
| EBITDA | 2.93 | 5.14 | 6.51 |
| Total Assets | 13.95 | 21.11 | 24.25 |
| Net Worth | 4.72 | 7.76 | 12.2 |
| Reserves & Surplus | 4.71 | 1.95 | 6.39 |
| Total Borrowing | 2.15 | 5.35 | 7.18 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2026 |
|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 42.44% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 50.66% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 42.44% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 4.98% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 7.65% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.59x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 8.46x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹5.39 | ₹4.1 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 20.96x | 27.56x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹66 Cr | ₹86 Cr |
The basis of allotment for Sai Urja Indo IPO is scheduled for 30 Sep 2026. You can check your allotment status using your PAN number or application number on the Maashitla Securities Pvt.Ltd. portal or BSE.
The Sai Urja Indo IPO is expected to open in Sep 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Sai Urja Indo IPO is ₹107.00 - ₹113.00 per share.
As per market sources, Sai Urja Indo IPO GMP is currently ₹0.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Sai Urja Indo IPO stands at 0.04x overall.
The listing date for Sai Urja Indo IPO is 05 Oct 2026.
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