Srinibas Pradhan Constructions Lists on NSE SME with Moderate Market Response

Srinibas Pradhan Constructions debuted on the NSE SME platform on March 13, listing at Rs 100.05, a slight premium over its Rs 98 IPO price. The IPO, valued at Rs 20 crore, was moderately subscribed overall, with stronger interest from non-institutional and qualified institutional investors, while retail participation was lower. The company operates in infrastructure, focusing on roads, bridges, and utilities, and plans to use proceeds for working capital and loan repayments.