- POSITIVE
Annual Revenue Sai Urja Indo Ventures Mar-2026 Annual Revenue is Rs 86 Cr which is growth of 30.1% YoY.
- POSITIVE
Annual Net Profit Sai Urja Indo Ventures Mar-2026 Annual Net Profit is Rs 4 Cr which is growth of 33.8% YoY.
Sai Urja Indo Ventures was incorporated on May 17, 2012. The company is a certified provider of Operation and Maintenance (O&M) and support services for industrial plants, primarily in the power generation sector, as well as iron & steel and agrochemical industries. Its services include electrical, mechanical and instrumentation operations, coal handling, plant housekeeping, equipment overhauls, safety management and manpower supply
| Bidding Dates |
|---|
| 25 Sep 2026 - 29 Sep 2026 |
| Subscription |
|---|
| 4.43x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹256,800 | 2 | 2 | 1200 | 2.2 M | ₹107 - ₹113 | 70.7 % | ₹236.3 M - ₹249.5 M | RHP DOC |
Sai Urja Indo Ventures IPO SUBSCRIPTION STATUS
29 Sep '26Total4.43x
Retail Individual Investor4.04x
HNI (NII) Investors6.19x
Qualified Institutional Buyers2.8x
Sai Urja Indo Ventures IPO overall subscription rate was 4.43 times the total available shares
Sai Urja Indo Ventures IPO retail subscription rate was 4.04 times in the retail segment
Sai Urja Indo Ventures IPO non-institutional investor subscription rate was 6.19 times in the non-institutional investor category
Sai Urja Indo Ventures IPO Qualified Institutional Bidder subscription rate was 2.8 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Sep 2026 (Day 3) | 4.04x | 6.19x | 2.8x |
28 Sep 2026 (Day 2) | 0.43x | 0.05x | 0x |
25 Sep 2026 (Day 1) | 0.05x | 0.04x | 0x |
Sai Urja Indo Ventures FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 85.1 | 4.2 | -0.9 | -1.7 | 7.7% |
| FY25 | 65.5 | 3.1 | -2.1 | -2.7 | 7.8% |
| FY24 | 45.6 | 1.4 | 3.4 | 3.2 | 6.4% |
Sai Urja Indo Ventures IPO SUBSCRIPTION STATUS DETAILS
Sai Urja Indo Ventures had 2.2 M shares on offer
Sai Urja Indo Ventures IPO offer price was in the range ₹107 - ₹113
Sai Urja Indo Ventures IPO minimum Investment was ₹256800
Sai Urja Indo Ventures IPO issue size was ₹ 236.3 M - ₹ 249.5 M
Sai Urja Indo Ventures had a minimum lot size of 1200 Shares per application
Sai Urja Indo Ventures NUMBER OF SHARES ON OFFER
Total2.2 M
Fresh Issue1.8 M
Offer for Sale379.2 K
Post Issue Promoter Holding %70.7 %
Sai Urja Indo Ventures IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2026 |
| Issue close Date | 29 Sep 2026 |
| Allotment Date | 30 Sep 2026 |
| Refund Date | 01 Oct 2026 |
| Demat Account Credit Date | 01 Oct 2026 |
| Listing Date | 05 Oct 2026 |
| Listing on Exchange(s) | BSE |
| Sai Urja Indo Ventures Allotment Status | Exchange/ Registrar |
Sai Urja Indo Ventures IPO subscription opened on 25 Sep 2026, and closed on 29 Sep 2026
IPO allotment for Sai Urja Indo Ventures was finalized on Wednesday, 30 Sep 2026
IPO listing for Sai Urja Indo Ventures was on BSE on Monday, 05 Oct 2026
Sai Urja Indo Ventures IPO LISTING GAINS
| Issue Price (adjusted) | 113.0 |
| Listing Open Price | 133.8 |
| Listing Close Price | 140.4 |
| Listing Gain% | 18.4% |
| Current Gain% | 53.2% |
Sai Urja Indo Ventures Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sai Urja Indo Ventures Ltd. | 173.2 | 132.3 | 31.2 | 0.9 | 1.5 | 34.7 | 17.5 | 85.6 | 30.1 | 4.2 | 35 | 5.5 | 35 |
| Larsen & Toubro Ltd. | 3627.5 | 510367.9 | 30.8 | 6.8 | 1.8 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 89.5 | 94502.8 | 197.7 | 1 | 6.1 | -5.9 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.5 | 203.3 |
| Rail Vikas Nigam Ltd. | 192.7 | 40186.7 | 44.7 | -1.8 | 1.9 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.3 | -24.5 |
| Kalpataru Projects International Ltd. | 1418.1 | 24217.2 | 21.3 | 0.4 | 0.9 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 66.5 | 60.9 |
| NBCC (India) Ltd. | 75.9 | 20498.4 | 27.6 | 0.9 | 1.6 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.8 | 30.6 |
Annual
Balance Sheet
Ratios
Cash Flow
Sai Urja Indo Ventures annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 |
|---|---|---|---|
| 85.6 | 65.8 | ||
Operating Exp. Ann. | 78.6 | 60.4 | |
Operating Profit Ann. | 6.5 | 5.1 | |
OPM Ann. % | 7.61% | 7.81% | |
| 80.1 | 61.5 | ||
EBITDA Ann. | 7 | 5.4 | |
EBITDA Ann. margin % | 8.22% | 8.26% | |
Interest Ann. | 0.7 | 0.6 | |
Depr. | 0.8 | 0.6 | |
PBT Ann. | 5.6 | 4.3 | |
Tax Ann. | 1.4 | 1.1 | |
| 4.2 | 3.1 | ||
Net Profit Ann. | 4.2 | 3.1 | |
NPM Ann. % | 4.92% | 4.77% | |
EPS Adj. latest Ann. | 5.5 | 4.1 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
30.1%
Net Profit Ann.
1Y CHG
35.5%
Operating Exp. Ann.
1Y CHG
30.1%
Sai Urja Indo Ventures INFORMATION ON IPO ISSUE
About Sai Urja Indo Ventures
Sai Urja Indo Ventures was incorporated on May 17, 2012. The company is a certified provider of Operation and Maintenance (O&M) and support services for industrial plants, primarily in the power generation sector, as well as iron & steel and agrochemical industries. Its services include electrical, mechanical and instrumentation operations, coal handling, plant housekeeping, equipment overhauls, safety management and manpower supply
Object of the Issue
- Working capital requirements of the company
- Debt repayment/prepayment, in full or part, availed by the company
- General corporate purpose
Sai Urja Indo Ventures - PROMOTERS
| Name |
|---|
| Harsh Ajaykumar Mittal |
| Santosh Ajay Kumar Mittal |
Sai Urja Indo Ventures - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Harsh Ajaykumar Mittal | Chairman & Managing Director |
| Santosh Ajay Kumar Mittal | Executive Director |
| Chetan Arun Mittal | Non-Executive Director |
| Ashutosh Choudhari | Non-Executive & Independent Director |
| Abhishek Jain | Non-Executive & Independent Director |
Sai Urja Indo Ventures Book Running Lead Manager
Shannon Advisors Private Limited
sme.ipo@shannon.co.in
Sai Urja Indo Ventures Registrar to the Offer
Maashitla Securities Private Limited
investor.ipo@maashitla.com
Sai Urja Indo Ventures Strengths
Diversified operations
The company provides diversified Operation and Maintenance (O&M) services across electrical, mechanical and control & instrumentation systems in various power plant units. Its services cover main plant/BTG, coal and ash handling, flue-gas desulphurization, transmission lines, substations and associated townships
Strength
Technical expertise
The company has technical capabilities and experienced management that enable it to participate in O&M tenders across process industries such as steel, fertilisers, oil & gas and cement. Its pan-India presence supports wider market reach and execution of projects across multiple locations
Strength
Sai Urja Indo Ventures Risks
Employee retention risks
The company depends on qualified, experienced personnel and skilled and unskilled labour for its operations, but may face challenges in attracting and retaining suitable employees due to industry demand. Employee attrition, longer replacement and training periods, and rising employee benefit costs could adversely affect its operations, financial performance and profitability
Risk
Project execution risks
The company’s power-sector and O&M operations depend on timely and efficient project execution within defined quality and cost parameters. Delays due to manpower or equipment availability, supply-chain disruptions, inaccurate planning, weather, safety incidents, third-party dependencies or regulatory approvals could cause cost overruns, penalties and adversely affect its business and financial performance
Risk
Competitive bidding risks
The company depends on successfully bidding for O&M and other projects in the power, steel, cement and paper industries, competing on pricing, technical expertise, project experience and track record. Intense competition, stronger competitors or changing market conditions could reduce bid success, pricing and margins, resulting in loss of market share and adversely affecting its revenues and financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.3 crore, of 379,200 shares. It also consists of a fresh issue of Rs 20.7 crore.
The promoters of the company are Harsh Ajaykumar Mittal and Santosh Ajay Kumar Mittal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 107.0 - 113.0.
The IPO application opens on Sep 25, 2026 and closes on Sep 29, 2026.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 256,800.0, the maximum value for this IPO is Rs 271,200.0.
This IPO will be allotted on Sep 30, 2026.
The refund will be credited to your account on Oct 01, 2026.
The allotted shares will be credited to your demat on Oct 01, 2026.
Sai Urja Indo Ventures Ltd.’s shares listed on the stock exchanges on Oct 05, 2026.