Engineering - Construction - Listed on 30 September 2026
Swastika Infra (Engineering - Construction) closed its IPO window in 2026 and listed on NSE and BSE on 30 September 2026 at an upper band issue price of Rs 185, opening at Rs 200 for a listing gain of +8.1%. The IPO was subscribed 7.43x overall - QIB 3.22x, HNI/NII 18.50x, Retail 5.39x. The total issue size was Rs 161.38 Cr (Fresh Issue Rs 129 Cr, OFS Rs 32.38 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Engineering - Construction
Swastika Infra is an engineering, procurement and construction company focused on power distribution infrastructure projects and related electrical products. Its EPC business accounted for the majority of FY2026 revenue, with projects spanning underground cabling, substations, electrification, street lighting and renewable-energy infrastructure.
Issue structure, listing outcome and context
The IPO had a total size of about ₹161.38 crore, comprising a ₹129 crore fresh issue and ₹32.38 crore offer for sale, priced at ₹185 per share at the upper end. The shares listed on NSE at ₹200 on 30 September 2026, an 8.11% gain over the issue price.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 9 | +4.90% |
| Day 2 | Rs 2 | +1.10% |
| Day 3 | Rs 4 | +2.20% |
| Day 4 | Rs 7.5 | +4.10% |
| Day 5 | Rs 6.5 | +3.50% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 5.8 pp (Reasonably accurate)
How the broader market moved around the Swastika Infra IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Swastika Infra IPO listed at +8.1% versus the upper issue price of Rs 185 on 30 September 2026.
Swastika Infra IPO was subscribed 7.43x overall. QIB portion was subscribed 3.22x, HNI / NII 18.50x and Retail 5.39x.
IPO GMP started at Rs 9 on Day 1 and moved to Rs 6.5 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.