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Pratham EPC Projects IPO
Price Band
₹71.0–75.0
Issue Size
₹36.0 Cr
Lot Size
1,600 shares
Min Investment
₹120,000
GMP
+₹27.0 (36.0%)
Issue Price
₹75.0
Subject to Sauda
₹32800
Paid only if allotted
Pratham EPC Projects IPO AI Summary
- Pratham EPC Projects IPO is listed on NSE SME in the Civil Construction sector.
- Price band: ₹71.0–₹75.0 per share, lot size 1,600 shares (min. investment ₹120,000).
- Subscription window: 11 Mar–13 Mar 2024, listing on 18 Mar 2024.
- Current GMP is +₹27.0 (36.0%), an estimated listing price of ₹102 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Pratham EPC Projects IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 13 Mar 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Pratham EPC Projects IPO Grey Market Premium (GMP) Today
GMP
+₹27.0
GMP %
+36.0%
Est. Listing
₹102.0
Updated: 25 Jul 2026 14:06
About the Company
Established in 2014, Pratham EPC Projects Limited provides end-to-end services to oil and gas utilities in India. The company specializes in integrated engineering, procurement, construction, and commissioning.The company undertakes gas pipeline projects including welding, testing, and commissioning. Pratham specializes in oil and gas pipelines and offshore water distribution projects and undertakes tendering and management.The company is certified by renowned organizations as follows: ISO 10002:2018 for customer satisfaction, ISO 14001:2015 for environmental management, ISO 18001:2007 for occupational health and safety, and ISO 9001:2015 for quality management.The company has completed more than 12 projects, with the largest projects totaling approximately ₹ 13,184.10 lakhs. As of March 31st, 2023, the company has six major projects. Five of them worth approximately ₹ 19,397.33 lakhs have been confirmed, but execution of projects worth ₹ 16,952.80 lakhs is still pending. One project has been completed with an order worth around ₹ 40,667.29 lakhs, indicating a healthy order book.As of September 30, 2023, the company employed 770 people in various departments.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 46.44 | 48.50 | 28.50 | 20.42 |
| Total Income | 35.81 | 51.67 | 50.63 | 30.85 |
| Profit After Tax | 5.23 | 7.64 | 4.41 | 1.13 |
| NET Worth | 23.21 | 17.98 | 10.34 | 5.92 |
| Reserves and Surplus | 10.25 | 17.17 | 9.53 | 5.11 |
| Total Borrowing | 9.52 | 14.19 | 2.46 | 1.99 |
Key Ratios
EPS
₹5.90
NAV
₹17.91
ROE
45.10%
ROCE
24.81%
RoNW
22.55%
P/B Value
4.19
P/E Ratio
12.72
Market Cap
₹133.20 Cr
PAT Margin
15.26%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Likhitha Infrastructure Limited | 63.39 | 24.01% | 15.47 | 15.22 |
| Pratham EPC Projects Limited This IPO | 13.87 | 42.5% | — | 5.9 |
Promoters
Nayankumar Manubhai Pansuriya and Pratikkumar Maganlal Vekariya
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of Machinery 8.84 2 To Meet Working Capital Requirements 15.15 3 General Corporate Purpose 8.82
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹51.67 Cr in the year ending 31 Mar 2023, decreasing to ₹35.81 Cr by 30 Sep 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹7.64 Cr in the year ending 31 Mar 2023, declining to ₹5.23 Cr by 30 Sep 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Priced at roughly 12.72 times trailing earnings, versus peers trading at 15.47 times.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that investors anticipate a higher listing price, while a negative GMP indicates the opposite. GMP can fluctuate based on market conditions and investor sentiment.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market conditions, and their own investment strategy.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as it operates in a sector that can be influenced by economic fluctuations and project execution risks.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors including market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while some IPOs may see significant gains on their first day, others may not perform as expected.
This evaluation is generated from Pratham EPC Projects's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Pratham EPC Projects IPO GMP today?
Pratham EPC Projects IPO GMP today is +₹27.0 (36.0%), indicating an estimated listing price of ₹102. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Pratham EPC Projects IPO?
The price band of Pratham EPC Projects IPO is ₹71.0–₹75.0 per share.
When does Pratham EPC Projects IPO open and close?
Pratham EPC Projects IPO opens on 11 March 2024 and closes on 13 March 2024.
When does Pratham EPC Projects IPO list on the stock exchange?
Pratham EPC Projects IPO listed on 18 March 2024 at ₹102.0.
What is the lot size for Pratham EPC Projects IPO?
The lot size for Pratham EPC Projects IPO is 1600 shares, requiring a minimum investment of ₹120,000.
What is the price band for the IPO?
The price band for the IPO is ₹71.0 to ₹75.0.
What is the minimum investment required?
The minimum investment required is ₹120,000.
What is the lot size for the IPO?
The lot size for the IPO is 1,600 shares.
When does the IPO open and close?
The IPO opens on March 11, 2024, and closes on March 13, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Mar 2024
Close
13 Mar 2024
Allotment
14 Mar 2024
Listing
18 Mar 2024
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