Indifra shares list at 10% premium on NSE Emerge platform

The SME IPO which raised around Rs 14.04 crore opened for subscription on December 21 and closed on December 26.

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Shares of Indifra Ltd opened 10 percent higher on debut after its initial public offer was subscribed over 7.21 times last week.

The stock opened at Rs72 on the BSE and gained as much as 10.8 percent intraday. At 10.05am, the stock was trading at Rs 68 on the NSE Emerge platform, up 4.6 percent from its issue price of Rs 65 a share.

The SME IPO, which raised around Rs 14.04 crore, opened for subscription on December 21 and closed on December 26.

Established in 2009, Indifra Ltd specialises in infrastructure management contracting, gas pipeline laying, and distributing electrical equipment. Formerly named Starleads Consultants Private Limited, it operates in two main sectors: pipeline and infrastructure management contracting services, and distribution of electrical appliances.

Indifra manages gas supply pipelines for companies like Charotar Gas Sahakari Mandali Ltd (CGSML) and has previously worked with Adani Gas Ltd as of December 2023.

The firm in FY23 reported a revenue of Rs 10.02 crore as against Rs 10.92 crore a year ago. Net profit was at Rs 1 crore as against Rs 40 lakh last year. In June quarter, it reported a revenue of Rs 64.28 lakh while net profit was at Rs 3.54 lakh.

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