Brokers usually take bids until: Zerodha 4:45 PM, Groww 4:50 PM, Angel One and Upstox 5:00 PM (HNI 4:00 PM). Check the exact time with your broker or bank.
Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Funding incremental working capital requirements
Meeting the operational and working capital requirements for executing ongoing and upcoming power infrastructure EPC contracts.
General corporate purposes
Supporting strategic initiatives, business development, and general administrative needs.
(₹ in Crore)
Tap a bar to highlight a metric across periods and show its values.
Swastika Infra Limited is a Jaipur based engineering, procurement, and construction company established in August 2019. The company specializes in turnkey infrastructure solutions for power transmission and distribution networks across urban and rural sectors. Its operational capabilities span the design, supply, installation, testing, and commissioning of electrical infrastructure, including high voltage underground power cables, Gas-Insulated Substations, traditional Air-Insulated Substations, grid substations, and distribution transformers. Over its operating history, the company has expanded its footprint across multiple Indian states, executing power distribution and electrification contracts for state government utilities and public sector undertakings. As of July 2026, Swastika Infra had completed 36 EPC power projects and maintained an order book comprising 18 ongoing projects with an aggregate order value exceeding 2,000 crore rupees. The organization leverages specialized technical teams and project management expertise to execute complex electrification, street lighting, and solar integrated power infrastructure projects. The company operates an asset light EPC model, focusing capital allocation on project execution, working capital efficiency, and technical engineering capabilities. Driven by national initiatives to modernize electrical grid infrastructure, convert overhead transmission lines to underground networks, and upgrade distribution efficiency, Swastika Infra positions itself to capitalize on public sector investments in power infrastructure.
Swastika Infra Limited allocated 26,08,782 equity shares to six institutional anchor investors at the upper price band of Rs 185 per share on September 22, 2026, raising Rs 48.26 crore. Key participating anchor investors included Shine Star Build-Cap Private Limited, Minerva Ventures Fund, Longthrive Capital VCC-Trendview Capital Fund, Krone Finstock Private Limited, Swyom India Alpha Fund, and Asas Global Fund Incorporated VCC Sub Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 29 September 2026, 7:00 PM
Established Track Record in Power EPC
Demonstrated execution capabilities in turnkey power transmission, substation construction, and underground cabling projects across state utilities.
Robust Order Book Providing Visibility
Strong pipeline of ongoing power infrastructure contracts valued at over 2000 crore rupees ensures stable operational backlog and revenue predictability.
Asset-Light Business Model
Focus on capital-efficient project execution enables efficient working capital utilization and high return on capital metrics.
Expansion in Modern Power Infrastructure
Specialized expertise in advanced Gas-Insulated Substations and urban underground cabling aligns with modern grid upgrade initiatives.
High Revenue Concentration in Power EPC
Substantial dependence on power transmission and distribution contracts exposes the business to sector-specific policy and budget shifts.
Working Capital Intensity
Turnkey EPC projects require significant ongoing working capital for retention money, performance bank guarantees, and extended payment cycles.
Customer Concentration in State Power Utilities
Major revenues originate from government entities and state discoms, making cash flows susceptible to project approval delays and payment realization timelines.
Swastika Infra Limited
Plot No. 14 & 15, First Floor, Gajraj Apartment, Opp. Hotel Neelam, Motilal Atal Road, Jaipur - 302001, Rajasthan, India
View on Maps →MUFG Intime India Private Limited
No financial information whatsoever published anywhere, within this website, should be considered as an advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this website. The information on this website is based on information available as on date coupled with market perceptions.
You agree with the terms and conditions to use this website.
Grey-market disclaimer. GMP shown here is grey-market news only. We do not trade or deal in the grey market or subject-to rates, nor do we recommend trading in the grey market.
Not investment advice. IPO Nex is an information tool, not investment advice. We do not recommend buying or selling any securities. Always do your own research before applying to any IPO.
IPO Nex does not guarantee any listing gain or return. IPO investments are subject to market risks.
All times are IST.
© 2026 IPO Nex by Niota. All rights reserved.
Execution Delays and Raw Material Price Fluctuation
Volatilities in essential inputs like copper, aluminum, and steel alongside land acquisition or clearance delays can impact contract margins.