Suntech Infra Solutions shares to list today. GMP hints at strong listing pop
Suntech Infra Solutions, a Delhi-based construction and equipment rental company, is set to list on the NSE SME platform on July 2, with expectations of a strong listing gain. The IPO saw healthy demand, driven by its position in the B2B infrastructure construction segment and robust financials.
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Delhi-based construction and equipment rental player Suntech Infra Solutions is set to list on the NSE SME platform on July 2 with a GMP of Rs 41 over the issue price of Rs 86. This suggests a strong potential listing gain of nearly 48% for investors who received allotments in the IPO.The Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh shares.Suntech Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July 2024.It also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction model.In FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous year.The IPO proceeds will be used to fund working capital and purchase new construction equipment to support project execution.With a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra's debut is expected to mirror the optimism in the SME IPO market, even amid broader market choppiness.Given the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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