In August 2025, India’s IPO market continued to attract investor interest with several promising issues. The overall market sentiment is driven by renewable energy, infrastructure, and technology companies, reflecting the growing investor appetite for ESG-aligned investments.
Amid this backdrop, Sugs Lloyd Ltd. ipo is opening on August 29, 2025, presenting an opportunity for investors to participate in a technology-driven engineering and construction company focused on renewable energy and power infrastructure.
About Sugs Lloyd Ltd.
Incorporated in 2009, Sugs Lloyd Limited specializes in renewable energy, particularly solar energy, along with electrical transmission, distribution, and civil EPC projects. Its services include:
- Solar EPC: Ground mount solar, rooftop solar
- Electrical EPC: Smart meter installation, AMC for 33/11 kV electrical networks
- Civil EPC: Construction, refurbishment, and modernization of government buildings
- Manpower Staffing: Recruitment of young technical professionals under Government of India schemes (NAPS/NATS)
As of March 31, 2025, the company employs 206 employees and focuses on delivering innovative and sustainable engineering solutions.
Sugs Lloyd Ltd. IPO Details
The IPO is a book-building issue of ₹85.66 crores, consisting entirely of fresh equity shares. Funds raised will primarily be used for working capital and general corporate purposes.
IPO Timeline (Tentative)
| Event | Date |
| IPO Open Date | August 29, 2025 |
| IPO Close Date | September 2, 2025 |
| Tentative Allotment Date | September 3, 2025 |
| Refund Initiation | September 4, 2025 |
| Credit of Shares to Demat | September 4, 2025 |
| Tentative Listing Date | September 5, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 2, 2025 |
Key IPO Details
| Attribute | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹117 to ₹123 per share |
| Lot Size | 1,000 shares |
| Total Issue Size | 69,64,000 shares (₹85.66 Cr) |
| Net Offered to Public | 66,14,000 shares (₹81.35 Cr) |
| Market Maker | Aftertrade Broking Pvt. Ltd. |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Pre-IPO Shareholding | 1,62,50,000 shares |
| Post-IPO Shareholding | 2,32,14,000 shares |
Sugs Lloyd Ltd. IPO Reservation
| Investor Category | Shares Offered | % of Total |
| Market Maker | 3,50,000 | 5.03% |
| QIB | 6,91,000 | 9.92% |
| NII (HNI) | 21,85,000 | 31.38% |
| Retail | 37,38,000 | 53.68% |
| Anchor Investors | 4,06,000 | 5.83% |
Anchor Investor Details:
- Amount raised: ₹4.99 crore
- Anchor bid date: August 28, 2025
- Lock-in period: 50% for 30 days, remaining 50% for 90 days
Sugs Lloyd Ltd. IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,46,000 |
| Retail (Max) | 2 | 2,000 | ₹2,46,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,69,000 |
| S-HNI (Max) | 8 | 8,000 | ₹9,84,000 |
| B-HNI (Min) | 9 | 9,000 | ₹11,07,000 |
About Promoters
- Mrs. Priti Shah
- Mr. Santosh Kumar Shah
Pre-IPO promoter holding: 99.99%
Sugs Lloyd Ltd. Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets (₹ Cr) | 133.50 | 48.23 | 24.65 |
| Total Income (₹ Cr) | 177.87 | 68.75 | 36.36 |
| Profit After Tax (₹ Cr) | 16.78 | 10.48 | 2.29 |
| EBITDA (₹ Cr) | 25.83 | 10.96 | 4.10 |
| Net Worth (₹ Cr) | 38.64 | 21.86 | 11.38 |
| Reserves & Surplus (₹ Cr) | 22.39 | 12.11 | 8.13 |
| Total Borrowing (₹ Cr) | 74.83 | 18.57 | 8.36 |
Key Performance Indicators (KPI) as of Mar 31, 2025
| KPI | Value |
| ROE | 55.47% |
| ROCE | 21.58% |
| Debt/Equity | 1.94 |
| RoNW | 43.42% |
| PAT Margin | 9.52% |
| EBITDA Margin | 14.66% |
| Price to Book Value | 9.14 |
| EPS (Pre-IPO) (Rs) | 10.32 |
| EPS (Post-IPO) (Rs) | 7.23 |
| P/E (Pre-IPO) (x) | 11.91 |
| P/E (Post-IPO) (x) | 17.02 |
Objects of the Issue
| Object | Amount (₹ Cr) |
| Working Capital Requirement | 80.65 |
| General Corporate Purposes | Balance |
Sugs Lloyd Ltd.: Industry Outlook
- The renewable energy sector, particularly solar energy, is expanding rapidly in India due to government incentives and increasing adoption by industries.
- Electrical transmission and distribution infrastructure investments are rising to meet the growing energy demand.
- Civil EPC projects for government buildings and power infrastructure are gaining traction, supporting long-term growth prospects.
Sugs Lloyd Ltd. IPO Review
Sugs Lloyd Ltd. is a technology-driven engineering company with strong presence in the renewable energy sector. It has shown robust growth in revenue and profit over the last two financial years. However, the quantum jump in profitability from FY24 onwards requires careful assessment of sustainability. Based on its current financials, the IPO appears fully priced. Well-informed investors could consider a medium to long-term investment horizon.
Peer Comparison
| Company | Sector Focus |
| Sugs Lloyd Ltd. | Renewable Energy & EPC |
| Rulka Electricals Ltd. | Electrical Components & Solutions |
Conclusion
Sugs Lloyd Ltd. IPO provides an investment opportunity in the growing renewable energy and engineering infrastructure sector. With a scalable business model, strong financial growth, and a focus on solar energy, the company is well-positioned for future expansion. Investors should weigh potential risks, including project execution delays and sector dependency, before investing.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
