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₹107 - 113
Sai Urja Indo Ventures Ltd
Infrastructure Developers & OperatorsIPOSME
₹107 - 113
Founded in 2012, Sai Urja Indo Ventures Ltd provides operation, maintenance, and support services across electrical, mechanical, and instrumentation systems for thermal power and process plants as a top-ten Indian power O&M (operation and maintenance) contractor. It deploys licensed multi-state technical crews to win multi-year public sector utility tenders that provide steady repeat maintenance work across heavy industrial sites.
Lot1,200Min Invest₹2,71,200Face Value₹10Issue Size₹25 CrFresh Issue₹21 CrOffer for Sale₹4 Cr
Timeline
23 Sept
Bidding opens
25 Sept
Bidding closes
28 Sept
Allotment
29 Sept
Refund & demat credit
30 Sept
Listing
Subscription
Subscription opens 23 Sept
Reports
Offer Details
Terms
Issue Size₹25 Cr
Fresh Issue₹21 Cr
Offer for Sale₹4 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.16% · NII 15.18% · RETAIL 35.66%
Application Sizes
Retail₹2,71,2001-1 lots
sNII₹2,71,200from 2 lots
bNII₹10,84,800from 8 lots
Managers & Registrar
Lead ManagerShannon Advisors Private Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrSantosh Ajay Kumar MittalPRMTR1,89,6002.14Harsh Ajaykumar MittalPRMTR1,89,6002.14Total3,79,2004.28
Shareholding
CategoryPre IPOPost IPOPromoter Group92.87%65.67%Public7.13%34.33%
Objects of the Issue
- Working capital requirements of the Company
- Debt Repayment/prepayment, in full or part, availed by the Company
- General corporate purposes
Anchor Book
Bid Date22-Sep-202630-day lock-in27-Oct-202690-day lock-in26-Dec-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 28 | 46 | 66 | 85 |
| Operating ProfitCr | 1 | 3 | 5 | 7 |
| OPM% | 2.5 | 6.4 | 7.8 | 7.7 |
| PBTCr | 0 | 2 | 4 | 6 |
| PATCr | 0 | 1 | 3 | 4 |
| EPS | - | 2 | 5 | - |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | - | 0 | 6 | - |
| ReservesCr | - | 5 | 2 | - |
| BorrowingsCr | - | 2 | 5 | - |
| Total AssetsCr | - | 14 | 21 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 1 | 3 | -2 | -1 |
| Investing Cash FlowCr | -1 | 0 | -1 | 0 |
| Financing Cash FlowCr | 0 | -3 | 3 | 1 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Diversified O&M service solutions for power and other industries.
- Increase in repeat orders from existing clients with larger project values.
- Large orderbook facilitating sustainable growth in financial performance.
- Leadership with a track record, powered by a sizable team.
Strategies · as stated in the DRHP
- Diversification into New Industries and Expansion into Renewable Energy.
- Introduce new services in higher value segments to existing & new clients.
- Reach new geographies in India.
- Up-sell and Cross-sell our Offerings to Increase Revenue.
Risks · as stated in the DRHP
- The company derived 99.97%, 100% and 99.98% of its revenue from operations in Fiscals 2026, 2025 and 2024 respectively, from the company's top 10 clients. Loss of any of its key clients, or reduction in revenue earned from such key clients, may have an adverse effect on the company's business, financial condition, cash flows and results of operations.
- The company depends on contracts entered into with Public Sector undertakings (PSU) that account for a significant portion of its revenues. The company cannot assure that such contracts will continue to be awarded to the company in future. Failures to be awarded such contracts may adversely affect its business, results of operations, cash flows and financial condition.
- If the company is unable to attract and retain qualified, experienced personnel, as well as skilled and unskilled labour, it may negatively impact its business conditions including operations, and financial condition. Additionally, employee benefit expenses make up a significant portion of the company's overall costs, and any substantial increase in these expenses could adversely affect its business including financial condition and profitability.
- The company has experienced significant working capital requirements in past and may continue to experience in future also. If its experience insufficient cash flows from the company operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect the company's business, cash flows and results of operations.
- The company revenue from operations is primarily driven by Industries and companies in Power Generation. Any challenges in maintaining relationships with these or unfavorable market developments affecting these services could have an adverse impact on the company's business, operational performance, cash flows, and overall financial health.
- The company current Order Book does not guarantee full realization of future income. Orders in its Order Book may be delayed, modified or cancelled, and letters of intent may be withdrawn or may not translate to confirmed orders. Any such instance may have an adverse impact on the company's business, results of operations and cash flows.