New Delhi, Jun 23 (KNN) Samay Project Services Limited made its trading debut on the NSE SME platform today, with shares opening at Rs 36.05, representing a 6.03 per cent premium over the issue price of Rs 34 per share.
The modest listing gain marked the company’s entry into the public markets following a successful initial public offering process.
The initial public offering was conducted over a three-day subscription period from June 16 to June 18, 2025. The issue was priced at Rs 34 per share with a face value of Rs 10, requiring a minimum application of 4,000 shares.
According to data from chittorgarh.com, the IPO received robust investor response, achieving an oversubscription of 29.08 times by the final day of bidding.
Samay Project Services Limited operates in the engineering sector, providing comprehensive Engineering, Procurement, and Construction services with a focus on balance of plant systems across multiple industries.
The company’s project portfolio encompasses piping systems, storage tanks, pressure vessels, fabricated structures, and fire protection and detection systems design and commissioning.
The company’s recent financial performance showed mixed results, with revenue declining by 8 per cent and profit after tax decreasing by 9 per cent between the fiscal years ended March 31, 2024, and March 31, 2025.
According to the red herring prospectus, the company’s primary listed competitor is Pratham EPC Projects, which trades at a price-to-earnings ratio of 20.19.
The public offering raised Rs 14.69 crore through the fresh issuance of 43,20,000 equity shares, with no offer for sale component included.
The company plans to utilise the net proceeds primarily for working capital requirements and general corporate purposes, as outlined in the prospectus.
Smart Horizon Capital Advisors Private Limited served as the book-running lead manager for the transaction, while Bigshare Services Private Limited handled registrar services. Shreni Shares Limited was appointed as the market maker for the IPO, ensuring liquidity support for the newly listed shares on the SME platform.
(KNN Bureau)
