Sugs Lloyd IPO opens for subscription. Check GMP, price band and other details

The Rs 85.66 crore IPO of Sugs Lloyd opened for public subscription on Friday. The book-built issue, entirely a fresh share sale of 69.64 lakh equity shares, will close on September 2, 2025.

According to market trackers, the grey market premium (GMP) is around 4%, suggesting muted listing expectations when the stock debuts on the BSE SME platform on September 5.

IPO size and price band

The IPO is priced in the band of Rs 117–123 per share. At the upper end, the company is looking to raise Rs 85.66 crore.

Investors can bid for a minimum of 2,000 shares, translating into Rs 2.46 lakh at the upper price band for retail investors.

The issue structure reserves 53.68% for retail investors, 31.38% for NIIs, and 9.92% for Qualified Institutional Buyers (QIBs).

Use of funds

Sugs Lloyd plans to utilize Rs 80.65 crore from the fresh issue proceeds to meet working capital requirements, while the balance will go towards general corporate purposes.

Company background

Founded in 2009, Sugs Lloyd is an engineering, procurement and construction (EPC) company with a focus on renewable energy, particularly solar projects, alongside electrical transmission, distribution, and civil EPC works.

Its service offerings span Solar EPC: ground-mounted and rooftop solar projects, Electrical EPC: smart meter installation, AMC for power lines, Civil EPC: construction, refurbishment, and modernization of government buildings and manpower staffing, including technical staffing and recruitment under government schemes

Financial performance

The company reported strong growth in FY25, with total income rising 159% year-on-year to Rs 177.87 crore from Rs 68.75 crore in FY24. Profit after tax grew 60% to Rs 16.78 crore, against Rs 10.48 crore in the previous year.

IPO timeline

The allotment of shares is expected to be finalized on September 3, while refunds and credit of shares to demat accounts will be initiated on September 4. Listing is slated for Friday, September 5.

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