Telge Projects IPO set to list on Friday. GMP suggests muted debut

Engineering design services company Telge Projects will make its stock market debut on the BSE SME platform on October 3, 2025, after concluding its Rs 27 crore IPO. However, ahead of listing, the IPO is showing no premium in the grey market, with the GMP holding steady at 0%. This indicates that the stock may see a flat start unless trading sentiment turns on listing day.

Subscription response

The IPO, which opened on September 25 and closed on September 29, received a 2.99 times overall subscription. Qualified institutional buyers (QIBs) showed the highest interest, subscribing 5.41 times their quota. The non-institutional investors (NII) portion was subscribed 2.75 times, while retail investors bid for 1.72 times the shares reserved for them.


The company raised Rs 7.70 crore from anchor investors ahead of the IPO opening, with a lock-in period extending up to December for a portion of these shares.

Company profile

Telge Projects provides engineering design services to EPC companies, contractors, and fabricators. Its portfolio covers building information modeling (BIM), structural design, 2D drafting, and architectural services.

The company has executed projects across 11 countries, including the USA, UK, Canada, Australia, and Singapore. It has also expanded overseas through a subsidiary in the US.

Financial performance

Telge Projects reported strong growth in FY25, with revenue more than doubling to Rs 25.65 crore, compared to Rs 12.5 crore in FY24. Net profit also rose sharply to Rs 5.38 crore in FY25, from Rs 2.66 crore in the previous year.

Proceeds from the IPO will be used for setting up new office premises in Pune, purchasing IT infrastructure, hiring manpower in India and the US subsidiary, and general corporate purposes.

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