India’s IPO market continues its momentum in August 2025, with a number of offerings from the infrastructure and construction sectors. Riding this trend, Current Infraprojects Limited, a company specialising in infrastructure and renewable energy projects, has opened its IPO on August 26, 2025.
Here is a detailed insight into the Current Infraprojects IPO and the industry outlook.
About Current Infraprojects Ltd.
Established in 2013, Current Infraprojects Limited (CIPL) is a leading infrastructure and renewable energy company offering services in civil, mechanical, electrical, and water engineering. Specialising in Engineering, Procurement, and Construction (EPC), CIPL delivers comprehensive turnkey solutions for Solar, Electrical, Water, and Civil EPC contracts, including interior works and road furniture.
The company also provides specialised consulting services in Mechanical, Electrical, and Plumbing (MEP) systems and Project Management Consulting (PMC). CIPL further diversifies its portfolio by offering hospitality services, managing a farmhouse property called YAHVI The Farmhouse.
Operating in 12 states across India, CIPL has successfully completed projects worth ₹23,209.06 Lakhs as of July 31, 2025. With a strong order book, repeat orders, and long-standing client relationships, CIPL stands out as a focused EPC player committed to quality.
Current Infraprojects Ltd. IPO Details
The Current Infraprojects IPO is a book-building issue of ₹41.80 crore, consisting entirely of a fresh issue of 0.52 crore shares. The proceeds from the IPO will be used for capital expenditure, working capital requirements, and general corporate purposes.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Tue, Aug 26, 2025 |
| IPO Close Date | Fri, Aug 29, 2025 |
| Tentative Allotment | Mon, Sep 1, 2025 |
| Initiation of Refunds | Tue, Sep 2, 2025 |
| Credit of Shares to Demat | Tue, Sep 2, 2025 |
| Tentative Listing Date | Wed, Sep 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 29, 2025 |
Key IPO Details
| Particulars | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹76 to ₹80 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 52,25,600 shares (aggregating up to ₹41.80 Cr) |
| Fresh Issue | 52,25,600 shares (aggregating up to ₹41.80 Cr) |
| Reserved for Market Maker | 2,68,800 shares (aggregating up to ₹2.15 Cr) |
| Holani Consultants Pvt.Ltd. | Reserved for Market Maker |
| Reserved for Employees | 99,200 shares (aggregating up to ₹0.7936 Cr) |
| Net Offered to Public | 48,57,600 shares (aggregating up to ₹38.86 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 1,35,00,000 shares |
| Shareholding Post-Issue | 1,87,25,600 shares |
Lot Size of Current Infraprojects Ltd. IPO
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,56,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,56,000 |
| S-HNI (Min) | 3 | 4,800 | ₹3,84,000 |
| S-HNI (Max) | 7 | 11,200 | ₹8,96,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,24,000 |
Current Infraprojects Ltd. Financials
The Current Infraprojects IPO is valued at a market capitalisation of ₹149.80 crore at the upper end of the price band. The company has demonstrated strong financial growth.
Key Performance Indicators (as of Mar 31, 2025)
- Return on Equity (ROE): 49.75%
- Return on Capital Employed (ROCE): 26.49%
- Return on Net Worth (RoNW): 39.84%
- Profit After Tax (PAT) Margin: 10.40%
- EBITDA Margin: 16.23%
- Price-to-Book Value: 4.55
- Pre-IPO EPS: 7.00
- Post-IPO EPS: 7.00
Company Financial Snapshot
| Period Ended (In Crore) | Mar 31, 2023 | Mar 31, 2024 |
| Assets | 35.65 | 42 |
| Total Income | 61.06 | 78 |
| Profit After Tax | 1.49 | 5 |
| EBITDA | 3.31 | 8 |
| Net Worth | 9.19 | 14 |
| Reserves and Surplus | 6.19 | 5.27 |
| Total Borrowing | 8.83 | 12.18 |
Current Infraprojects Ltd.: Industry Outlook
India’s infrastructure sector is a key driver of economic growth, with significant investment in construction and renewable energy projects. The government’s focus on infrastructure development provides a favourable environment for companies like Current Infraprojects. The increasing adoption of renewable energy, particularly solar, creates further opportunities for the company’s EPC services.
However, investors should consider risks such as intense competition from both large and small players, dependence on government projects, and the cyclical nature of the infrastructure industry.
Use of IPO Proceeds
The net proceeds from the fresh issue will be utilised for:
| S.No. | Purpose of the Issue | Expected Amount (in ) |
| 1 | Investment in equity of our fully owned subsidiary, Current Infra Dhanbad Solar Private Limited, to establish a 1800 KW solar plant under the RESCO Model at IIT (ISM), Dhanbad, Jharkhand | 59 |
| 2 | Financing the working capital needs of the company | 300 |
| 3 | General corporate expenses | — |
Current Infraprojects IPO Peer Comparison
The renewable energy industry, particularly in the solar sector, is highly competitive. Current Infraprojects faces competition from key players such as Sterling and Wilson Solar, RattanIndia Power, Loom Solar, Tata Power Solar Systems, and Adani Green Energy. While these companies operate in the same industry, they differ in their production capacities, technological innovations, and market strategies. When evaluating the Current Infraprojects IPO, investors should consider its strong market presence, ambitious expansion plans, and focus on providing sustainable energy solutions, which set it apart from its competitors in the sector.
Conclusion
Current Infraprojects Ltd.’s IPO offers investors an opportunity to participate in India’s growing infrastructure and renewable energy sectors. The company’s strong project execution, healthy order book, and solid financial performance make it a notable contender.
However, as an SME IPO, it comes with a higher risk profile. Investors should carefully assess their risk appetite and consider the company’s valuation and market position before making an investment decision. The IPO may be attractive to those with a long-term perspective on India’s infrastructural growth story.
