Power transmission and distribution engineering player Swastika Infra officially marked its debut on the primary stock exchanges on Wednesday, September 30, rewarding investors with a positive 8.11 percent listing premium. The company's equity opened on the National Stock Exchange (NSE) at ₹200 per share against its upper price band threshold of ₹185, securing an immediate gain of ₹15 per share for successful allottees. The opening performance reflects balanced institutional and non-institutional demand accumulated across the book-building window, during which total bids reached 48,150,288 shares against an aggregate public offering pool of 63,35,001 equity shares, culminating in an overall 7.60 times subscription rate.

Strong HNI Backing: Non-Institutional Book Subscribed 18.5x Amid Institutional Support

Demand dynamics across investor classes highlighted significant appetite from high-net-worth market participants. The non-institutional investor (NII) segment led overall bidding velocity, closing heavily oversubscribed at 18.50 times its reserved allocation. Retail individual investors also demonstrated healthy interest by booking their allocated tranche 5.39 times, while the qualified institutional buyer (QIB) portion closed subscribed at 3.22 times. The public issue had established an offer price corridor of ₹175 to ₹185 per share to mobilize gross issue proceeds of ₹160.88 crore, an amount comprising a fresh issue component worth ₹128.50 crore and an offer-for-sale (OFS) of up to 17.50 lakh equity shares valued at ₹32.38 crore. Prior to the public issue rollout, the firm garnered strong anchor backing by allotting 26.08 lakh shares to six institutional anchor funds at ₹185 apiece to raise ₹48.26 crore.

Fueling EPC Growth: ₹90 Crore Ring-Fenced for Large Power Grid Working Capital

Headquartered in Rajasthan, Swastika Infra operates as an end-to-end engineering, procurement, and construction (EPC) specialist dedicated to developing power transmission lines and electrical distribution substations across multiple Indian states. Its operational lifecycle spans technical surveying, design engineering, material procurement, on-ground installation, testing, and project commissioning for state distribution utilities and regional grid networks. Executive management confirmed that ₹90 crore of the fresh capital raised will be deployed to meet expanding working capital requirements, an essential liquidity buffer required to procure high-capacity cabling, transformers, and heavy equipment before phased billing clearances are realized across ongoing infrastructure contracts.