PSP Projects IPO
PSP Projects IPO — date, price band, lot size & details 2017
PSP Projects listed on 29 May 2017 at ₹190, 9.5% below the ₹210 issue price.
PSP Projects is a construction company building industrial, institutional, government and residential projects. Its total income was Rs 467.71 crore in FY2016.
Stock price
PSP Projects is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 17 May 2017
- Close 19 May 2017
- Allotment 24 May 2017
- Refund/credit 26 May 2017
- Listing 29 May 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 17 to 19 May, 2017 |
|---|---|
| Price Band | ₹205 – ₹210 |
| Face Value | ₹10 |
| Lot Size | 70 Shares |
| Issue Size | ₹211.68 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 70 shares at the ₹210 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 70 | ₹14,700 |
| Retail (max) | 13 | 910 | ₹1,91,100 |
| S-HNI (min) | 14 | 980 | ₹2,05,800 |
| S-HNI (max) | 68 | 4,760 | ₹9,99,600 |
| B-HNI (min) | 69 | 4,830 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 214.80 crore in FY2014 to Rs 467.71 crore in FY2016.
- 02Profit after tax rose from Rs 10.07 crore in FY2014 to Rs 24.93 crore in FY2016.
- 03EBITDA rose from Rs 16.74 crore in FY2014 to Rs 39.35 crore in FY2016.
- 04Rs 52.00 crore of the issue was for capital equipment.
Risks · 5
- 01Total borrowing rose from Rs 44.36 crore in FY2016 to Rs 77.07 crore on 31 December 2016.
- 02Profit after tax was Rs 24.93 crore on income of Rs 467.71 crore in FY2016, so margins are thin.
- 03Rs 63.00 crore of the issue was for working capital, which construction ties up.
- 04Income doubled in two years, which raises execution risk; total assets were Rs 274.15 crore.
- 05Promoter holding fell from 99.99% before the issue to 71.99% after it.
Three years of numbers
All figures in ₹ crore, as reported in the PSP Projects offer document.
| Metric | 31 Dec 2016 | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 0014 |
|---|---|---|---|---|
| Assets | 274.15 | 228.71 | 186.38 | 136.27 |
| Total Income | 249.42 | 467.71 | 286.97 | 214.80 |
| Profit After Tax | 21.48 | 24.93 | 14.05 | 10.07 |
| EBITDA | 32.45 | 39.35 | 22.41 | 16.74 |
| NET Worth | 87.58 | 66.09 | 46.92 | 34.79 |
| Reserves and Surplus | 58.78 | 62.89 | 46.12 | 33.99 |
| Total Borrowing | 77.07 | 44.36 | - | 25.11 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹141.95 Cr of the issue is earmarked to named objects.
About the company
It offers construction and allied services across industrial, institutional, government, government residential and residential projects.
It builds industrial buildings for pharma plants, food processing units, engineering units and factories, as well as hospitals and other institutional buildings.
The IPO was Rs 211.68 crore, with Rs 151.20 crore of fresh issue and Rs 60.48 crore of offer for sale, at Rs 210, the top of the Rs 205 to Rs 210 band. The fresh money was for working capital, capital equipment and general purposes.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
PSP Projects IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
78 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Karvy Investor Services Ltd
31 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: Astral Poly Technik (-10.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of PSP Projects?
The current Grey Market Premium is ₹7.5, or 4% over the issue price.
What is the PSP Projects IPO price band?
₹205 to ₹210, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 May 2017, with listing on 29 May 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
