What is Sai Urja Indo Ventures IPO?

Sai Urja Indo Ventures IPO is a SME book building issue of 22,08,000 equity shares of the face value of ₹10 aggregating up to ₹24.95 Crores. The issue is priced at ₹107 to ₹113 per share.

When does the Sai Urja Indo Ventures IPO open and close?

The IPO opens on Friday, September 25, 2026, and closes on Tuesday, September 29, 2026.

What is the price band of the Sai Urja Indo Ventures IPO?

The IPO price band is set at ₹107 to ₹113 per share.

What is the lot size and minimum investment for Sai Urja Indo Ventures IPO?

The lot size is 1,200 shares. The minimum investment required for retail investors is ₹2,71,200 (2 lots of 1,200 shares) based on the upper price band.

What is the total issue size of the Sai Urja Indo Ventures IPO?

The total issue size is up to ₹24.95 crores, comprising a fresh issue of up to ₹20.67 crores and an offer for sale (OFS) of up to ₹4.28 crores.

Where will Sai Urja Indo Ventures shares be listed?

The shares are proposed to be listed on the BSE SME platform.

Who is the registrar for the Sai Urja Indo Ventures IPO?

Maashitla Securities Pvt. Ltd. is the registrar for the IPO.

What is the post-IPO market cap of Sai Urja Indo Ventures?

Based on the upper cap of the price band, the post-IPO market cap is estimated to be ₹86.32 crore.

What are the company's key services?

The company offers operation and maintenance services including electrical systems, control & instrumentation, mechanical jobs, coal handling plants, merry-go-round systems, boiler-turbine-generator maintenance, industrial housekeeping, and overhaul works.

Who are the promoters of Sai Urja Indo Ventures?

The promoters are Harsh Ajaykumar Mittal and Santosh Ajay Kumar Mittal.

IPO Details

Sai Urja Indo Ventures Limited IPO

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SME IPO

₹1,28,400

Minimum Investment

Exchange Listed · NSE / BSESEBI Regulated Issue

About Company

Company Name: Sai Urja Indo Ventures Limited

Industry / Sector: Operations & Maintenance (O&M) Services / Power & Industrial Services

Founded Year: 2012

Promoters: Harsh Ajaykumar Mittal, Santosh Ajay Kumar Mittal

Sai Urja Indo Ventures Limited offers Operation and Maintenance (O&M) and other support services in industrial plants, primarily in the power generation industry and other industries like iron & steel and agrochemicals. The company's work includes managing electrical, mechanical, and instrumentation systems, operating coal handling and merry-go-round systems in power plants, as well as ensuring plant cleanliness and safety through industrial housekeeping, equipment overhauls, and manpower supply. Its services are delivered through four types of contracts: Annual Maintenance Contracts, Performance-Based Contracts, Manpower Supply Contracts, and Short-Term Bill of Quantity Contracts. As on June 15, 2026, they have 17 on-going projects for which Rs. 7,165.10 Lakhs worth project execution is pending and 4 projects worth Rs. 2,536.74 Lakhs whose execution is yet to commence. As on June 30, 2026, they have 1,969 employees.

IPO Basic Details

Company Name	Sai Urja Indo Ventures Limited
IPO Type	SME IPO
Price Band	₹107 – ₹113
Lot Size	1200 Shares
Total Issue Size	22,08,000 Equity Shares (₹24.95 Cr)

IPO Strengths & Risks

Strengths

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

Risks

Dependence on the power and industrial sectors
Contract renewal and client concentration risks
Exposure to labour-related risks
Competition from other O&M service providers

IPO Important Dates

IPO Open Date	25 Sep 2026
IPO Close Date	29 Sep 2026
Basis of Allotment	30 Sep 2026
Refund Initiation	01 Oct 2026
Demat Credit Date	01 Oct 2026
Listing Date	05 Oct 2026
Anchor Investor Date	-
UPI Mandate Deadline	-

IPO Objectives

Capital expenditure for machinery and equipment – -
Funding working capital requirements – -
Debt repayment – -
General corporate purposes – Balance Amount

Investor Reservation

QIB Quota	49.16% of Net Issue (9,79,200 shares)
Retail Quota	35.66% of Net Issue (7,10,400 shares)
HNI Quota	-
Employee Quota	-
Shareholder Quota	-
Anchor Investor Allocation	-

Market Lot Details

Application	Lot Size	Shares	Amount
Retail Minimum	2 Lots	2400	₹2,71,200
Retail Maximum	2 Lots	2400	₹2,71,200
S-HNI Minimum	3 Lots	3600	₹4,06,800
S-HNI Maximum	7 Lots	8400	₹9,49,200
B-HNI Minimum	8 Lots	9600	₹10,84,800

Key Performance Indicators (KPI)

ROE	42.44%
ROCE	50.66%
RoNW	-
PAT Margin	4.98%
EBITDA Margin	7.65%
EPS	₹5.39 (Pre-IPO), ₹4.10 (Post-IPO)
NAV per share	-
Debt to Equity	0.59
P/E Ratio	-
Industry P/E	-

Company Financial Data

Period	Assets	Total Income	PAT	EBITDA	Net Worth	Borrowings
FY2026	₹24.25 Cr	₹85.64 Cr	₹4.19 Cr	₹6.51 Cr	₹12.20 Cr	₹7.18 Cr
FY2025	₹21.11 Cr	₹65.82 Cr	₹3.13 Cr	₹5.14 Cr	₹7.76 Cr	₹5.35 Cr
FY2024	₹13.95 Cr	₹45.88 Cr	₹1.39 Cr	₹2.93 Cr	₹4.72 Cr	₹2.15 Cr

Grey Market Premium

GMP Price	Not Available
Kostak Rate	Not Available
Subject to Sauda	Not Available
Last Updated	Not Available
Estimated Listing Price	TBA

IPO Subscription Data

Total Subscription	Pending
QIB (Ex Anchor)	Pending
HNI Subscription	Pending
Retail Subscription	Pending
Anchor	-

IPO Intermediaries

Registrar: Maashitla Securities Pvt. Ltd.

Registrar Website: Not explicitly stated in the source

IPO Lead Manager(s)

Shannon Advisors Pvt. Ltd.

IPO Documents

DRHP RHP

Frequently Asked Questions (FAQ)

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