The initial public offer (IPO) of Samay Project Services received bids for 8,43,28,000 shares as against 31,20,000 shares on offer. The issue was subscribed 27.02 times.
Qualified Institutional Buyers (QIBs) bid for 1,81,12,000 shares, Non-Institutional Investors (NIIs) for 4,42,32,000 shares, while Retail Individual Investors (RIIs) placed bids for 2,19,84,000 shares.
The issue opened for bidding on 16 June 2025 and it closed on 18 June 2025. The price band of the IPO was set at Rs 32 to 34 per share. The equity shares will list on NSE's SME platform.
The IPO comprised fresh issue of 43,20,000 shares. The promoter and promoter shareholding diluted to 63.19% from 96.29% pre-IPO.
The company intends to utilize the net proceeds for funding working capital requirements of company and for general corporate purpose.
Ahead of the IPO, Samay Project Services on 13 June 2025, raised Rs 28.80 crore from anchor investors. The board allotted 12 lakh shares at Rs 24 per share to 3 anchor investor.
Samay Project Services is primarily engaged in providing engineering, procurement, and construction (EPC) services, with a focus on the design, engineering, supply, fabrication, erection, and commissioning of balance of plant (BOP) systems across various industries. The company undertakes EPC projects involving piping systems, tanks and vessels, fabricated structures, and fire protection and detection systems, including firefighting systems (FFS). As of 31 March 2025, the company had 51 employees.
The company recorded revenue from operations of Rs 37.14 crore and net profit of Rs 4.19 crore for the period ended 31 March 2025.