Samay Project Services Limited IPO starts on 16 June, Check All Details

Samay Project Services Limited is launching its Initial Public Offering (IPO) on June 16, 2025, and it will remain open for subscription until June 18, 2025. The company aims to raise approximately ₹14.69 crores through this IPO, which will be a Book Built Issue. All the funds will come from a fresh issue of shares, meaning the company will issue new shares rather than existing shareholders selling their stake. The price band for the IPO is set between ₹32 and ₹34 per share, with a face value of ₹10 per share. The IPO will be listed on the NSE SME platform, and the shares are expected to be listed on June 23, 2025.

The minimum investment required for retail investors is for one lot, which includes 4,000 shares, amounting to ₹1,36,000. Retail investors can only apply for one lot, while High Net-worth Individuals (HNIs) need to apply for a minimum of two lots (8,000 shares). The IPO allotment will be finalized on June 19, 2025, and refunds (if any) and credit of shares to Demat accounts will be completed by June 20, 2025.

The investor categories are divided as follows: 50% of the IPO is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (HNIs), and 35% for retail investors. The IPO is being managed by Smart Horizon Capital Advisors Private Limited, and the official registrar is Bigshare Services Pvt Ltd.

Samay Project Services is an engineering and construction company that mainly provides Engineering, Procurement, and Construction (EPC) services. The company focuses on designing and building systems known as Balance of Plant (BOP) for various industries. These include piping systems, tanks and vessels, fabricated structures, and fire protection systems. The company has completed multiple power plant projects involving design, supply, testing, and installation. It has a strong technical and design team and maintains a presence across various EPC sectors. The promoters of the company are Mr. Anand R and Ms. Santhi Karthikeyan.

Financially, the company has shown solid growth. In FY2024, it reported a revenue of ₹40.95 crores, almost double the ₹20.82 crores recorded in FY2023. Profit after tax also increased from ₹3.44 crores in FY2023 to ₹4.62 crores in FY2024. For the half-year ended September 2024, the company posted a revenue of ₹18.51 crores and a profit of ₹2.02 crores. The company maintains a strong balance sheet with improving asset base and low debt (Debt-to-equity ratio: 0.15).

In terms of valuation, Samay Project Services has shown strong returns with a Return on Equity (ROE) of 33.63% and a Return on Net Worth (RoNW) of 28.79%. The Earnings Per Share (EPS) for FY2024 is ₹4.18, and the Net Asset Value (NAV) is ₹14.54. Although the Price-to-Earnings (P/E) ratio is not disclosed, the company seems reasonably valued based on its financial performance.

The funds raised from the IPO will be used mainly for working capital needs and general corporate purposes, which indicates that the company is looking to fuel its growth further. Given the company’s strong financials, technical capability, and project experience, investors looking for long-term potential in the EPC sector may consider applying. However, as with any SME IPO, investors should also evaluate the risks and consult financial advisors if needed before making a decision.