Sattva Engineering shares to debut today. Check GMP ahead of debut

Chennai-based Sattva Engineering Construction will make its SME debut today. After seeing robust demand during the subscription period, the company’s Rs 35.38 crore IPO is now commanding a GMP of around 29%, hinting at a healthy listing gain for investors.

Heavy subscription across categories

The IPO, priced at Rs 75 per share, opened for subscription on August 26 and closed on August 29. By the final day, it was subscribed an impressive 198 times.

Non-institutional investors (NII) led the rush with bids 351 times their quota, while retail investors applied 173 times their portion. Qualified institutional buyers (QIBs) were not far behind, with their category booked over 123 times.

Company overview

Sattva Engineering Construction specializes in water infrastructure, wastewater management, and industrial construction projects.

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With over four decades of experience as a Class I contractor, the company has executed projects for key clients such as the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), Tamil Nadu Public Works Department, Greater Chennai Corporation, Southern Railway, and BHEL.

Its portfolio spans water distribution networks, sewage treatment plants, overhead tanks, pumping stations, factory buildings, warehouses, residential apartments, and commercial complexes.

Financial snapshot

Sattva Engineering reported revenue of Rs 94.85 crore in FY25, a 22% jump from the previous year. Net profit doubled to Rs 9.14 crore from Rs 4.56 crore in FY24, while EBITDA rose to Rs 18.56 crore.

Use of IPO proceeds

Proceeds from the IPO will primarily fund long-term working capital needs, ensuring smoother execution of its growing order book, valued at over Rs 308 crore as of March 2025.

While the long-term trajectory will hinge on order inflows and execution discipline, all eyes are now on Wednesday’s listing to see if Sattva can build on the strong demand its IPO attracted.

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