Integrity Infrabuild Developers Limited IPO
The Company core expertise lies in executing civil infrastructure projects for government and semi-government bodies. While subcontracting is an integral part of the construction ecosystem—wherein main contractors delegate specific work packages to specialized agencies—they have primarily operated as a direct contractor, accountable for end-to-end project execution.
They follow a structured and compliant project execution model that ensures quality, safety, and timely delivery. Subcontracting, when undertaken, involves rigorous partner selection, legal contract formulation, and close monitoring to ensure adherence to regulatory, technical, and financial standards. However, it is important to note that between FY 2021-22 and FY 2023-24, 100% of their 111 completed projects were directly contracted with the Government of Gujarat and its affiliated agencies, without reliance on subcontracting arrangements. These projects include:
i. 103 Road Construction Projects, and
ii. 8 Government Building Projects,
with a cumulative contract value of ₹21,336.63 Lakhs.
Their civil contracting operations are primarily focused across three key verticals:
i. Road Infrastructure Projects
ii. Building Construction for Government Institutions
iii. Bridge and Allied Civil Structures
Over the years, they have demonstrated strong project management capabilities, financial discipline, and adherence to regulatory frameworks, which position them as a trusted partner for public infrastructure development in Gujarat.
Objects of the Integrity Infrabuild Developers Limited IPO:
Integrity Infrabuild Developers Limited IPO Details:
Open Date: | May 13 2025 |
Close Date: | May 15 2025 |
Total Shares: | 12,00,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Size: | 12.00 Cr. |
Lot Size: | 1200 Shares |
Issue Price: | ₹ 100 Per Equity Share |
Listing At: | NSE Emerge |
Listing Date: | May 20 2025 |
Promoters And Management:
Financials of Integrity Infrabuild Developers Limited IPO:
Particulars | December 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
Revenue from Operations | 68.89 | 64.47 | 45.18 | 33.42 |
EBITDA | 5.46 | 3.57 | 2.62 | 1.60 |
EBITDA Margins | 7.93% | 5.54% | 5.82% | 4.81% |
PAT | 1.94 | 0.94 | 0.29 | 0.29 |
PAT Margins | 2.82% | 1.47% | 0.65% | 0.90% |
ROCE | 18.70% | 13.14% | 12.80% | 8.04% |
D/E Ratio | 2.82 | 3.60 | 2.92 | 2.54 |
CFOA | 8.02 | 0.80 | 4.63 | -0.47 |
Comparison With Peers:
Companies | Revenue | EBITDA Margins | PAT Margins | D/E Ratio | MCap | P/E |
Integrity Infrabuild Developers (FY 2024) | 64.47 Cr. | 5.54% | 1.47% | 3.60 | 43 Cr. | 45.74* |
Udayshivakumar Infra (TTM) | 336 Cr. | 6% | 3.86% | 0.39 | 199 Cr. | 15.40 |
V R Infraspace (TTM) | 24.88 Cr. | 18.61% | 13.22% | 0.00 | 178 Cr. | 78.30 |
Recommendation on Integrity Infrabuild Developers Limited IPO:
To be updated shortly.
Lead Manager of Integrity Infrabuild Developers Limited IPO:
Registrar of Integrity Infrabuild Developers Limited IPO:
Company Address:
Discussion on Integrity Infrabuild Developers Limited IPO:
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