Introduction: Savy Infra SME IPO
The Savy Infra SME IPO opens on July 21, 2025, and closes on July 23, 2025. The company aims to raise ₹66.47 crore through a fresh issue. Shares are priced between ₹114 and ₹120 each. Retail investors must apply for 2 lots (1,200 shares), requiring a minimum investment of ₹2.88 lakhs.
In FY25, Savy Infra’s revenue jumped by 179%, and profit surged 142%. The company provides infrastructure and logistics services such as earthwork, road building, heavy equipment rentals, and truckload transport. It serves sectors like steel, mining, and infrastructure.
The shares will list on the NSE SME platform by July 28, 2025. In this article, we break down the business model, IPO details, GMP, and listing strategy.
Savy Infra SME IPO Details
IPO Timeline
The Savy Infra SME IPO will open on Monday, July 21, 2025, and close on Wednesday, July 23, 2025. The tentative allotment is scheduled for Thursday, July 24, 2025, with shares likely to list on Monday, July 28, 2025 on the NSE SME platform.
| Event | Date |
|---|---|
| IPO Open Date | Mon, July 21, 2025 |
| IPO Close Date | Wed, July 23, 2025 |
| Cut-off Time for UPI Mandate | 5 PM on July 23, 2025 |
| Allotment Date (Tentative) | Thu, July 24, 2025 |
| Refunds Initiation | Fri, July 25, 2025 |
| Credit to Demat Accounts | Fri, July 25, 2025 |
| Listing Date (Tentative) | Mon, July 28, 2025 |
IPO Offer Details
| Particulars | Details |
|---|---|
| IPO Dates | July 21 to July 23, 2025 |
| Listing On | NSE SME |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 per share |
| Lot Size | 1,200 shares |
| Minimum Retail Investment | 2,400 shares (2 lots) = ₹2,88,000 |
| Issue Type | Book Building |
| Total Issue Size | 58,32,000 shares (₹69.98 Cr) |
| Fresh Issue Size | Entirely fresh issue |
| Market Maker Portion | 2,92,800 shares (₹4 Cr) |
| Public Net Offer | 55,39,200 shares (₹66.47 Cr) |
| Pre-Issue Shares | 1,49,76,480 shares |
| Post-Issue Shares | 2,08,08,480 shares |
Lot Size & Investment Breakdown
Retail and HNI investors must apply in multiples of 1,200 shares. Here’s how the minimum and maximum investment amounts look:
| Investor Category | Lots | Shares | Investment Amount (₹) |
|---|---|---|---|
| Retail (Min & Max) | 2 | 2,400 | ₹2,88,000 |
| S-HNI (Min) | 3 | 3,600 | ₹4,32,000 |
| S-HNI (Max) | 6 | 7,200 | ₹8,64,000 |
| B-HNI (Min) | 7 | 8,400 | ₹10,08,000 |
⚠️ Bidding at the cut-off price is not allowed for any investor category.
Reservation Breakdown
| Investor Category | Allocation Criteria |
|---|---|
| QIB | Not more than 50% of the net issue |
| Retail | Not less than 35% of the net issue |
| NII (HNI) | Not less than 15% of the net issue |
Promoter Holding
The promoters of Savy Infra & Logistics Ltd. are Tilak Mundhra and Liladhar Mundhra.
| Holding Stage | Shareholding (%) |
|---|---|
| Pre-Issue Holding | 85.87% |
| Post-Issue Holding | [To be updated] |
IPO Objectives
The company intends to utilize the net proceeds from the IPO for the following purposes:
| S.No | Objective | Amount (₹ in Cr) |
|---|---|---|
| 1 | Working capital requirements | ₹49.00 |
| 2 | General corporate purposes | [Remaining] |
These funds will enable Savy Infra & Logistics Ltd. to support its growing EPC and logistics business, improve liquidity, and enhance operational scale.
Business Overview: Savy Infra SME IPO
Savy Infra and Logistics Limited is an Engineering, Procurement, and Construction (EPC) company that specializes in earthwork and foundation preparation for large-scale infrastructure projects. From building roads and embankments to preparing subgrades and laying granular or bituminous surfaces, Savy Infra provides the critical groundwork that enables civil infrastructure to take shape.
Initially, the company started by supplying quartzite for construction. Over time, it expanded into end-to-end infrastructure services like excavation, grading, utility setup, and paving. It also handles the transportation and disposal of excavated materials, adding a strong logistics component to its EPC foundation.
Today, under the leadership of promoter Tilak Mundhra, the company operates across infrastructure, steel, and mining sectors. Tilak brings over a decade of experience in construction and civil engineering, having served as a director at C.M. Developers & Builders Pvt. Ltd. from 2012 to 2024.
Savy Infra operates on an asset-light model. Instead of owning trucks and machinery, it rents equipment and manpower. This helps reduce overheads like depreciation, interest, and maintenance, ultimately boosting profit margins. The logistics arm provides Full Truck Load (FTL) services, offering point-to-point transportation without intermediate stops. This ensures faster and safer freight delivery for industrial clients.
Savy Infra’s projects span several states, including Gujarat, Maharashtra, Andhra Pradesh, Telangana, Chhattisgarh, Madhya Pradesh, Karnataka, and Odisha. Its completed work includes embankment development, subgrade construction, land leveling, fencing, and road shoulder construction.
Revenue Snapshot
The company has shown impressive growth in the last three years. In FY25, it earned ₹28.3 crore in revenue from operations—almost 3x its FY24 figure and over 45x compared to FY23. Here’s how the revenue breaks down by segment:
| Segment | FY25 Revenue | Share of Total | FY24 Revenue | Share of Total | FY23 Revenue | Share of Total |
|---|---|---|---|---|---|---|
| EPC | ₹22.77 Cr | 80.36% | ₹7.22 Cr | 71.10% | ₹0.48 Cr | 77.67% |
| Logistics | ₹4.02 Cr | 14.18% | ₹2.84 Cr | 27.92% | ₹0.14 Cr | 22.33% |
| Other Services | ₹1.55 Cr | 5.46% | ₹0.10 Cr | 0.98% | ₹0 Cr | 0% |
The company generates nearly 90% of its revenue from recurring projects, showing a strong base of long-term business relationships:
| Revenue Type | FY25 Revenue | % of Total | FY24 Revenue | % of Total | FY23 Revenue | % of Total |
|---|---|---|---|---|---|---|
| Recurring | ₹25.28 Cr | 89.21% | ₹8.51 Cr | 83.79% | ₹0.48 Cr | 77.68% |
| One-Time | ₹3.06 Cr | 10.79% | ₹1.65 Cr | 16.21% | ₹0.14 Cr | 22.33% |
Further, a large chunk of work is done directly (73.9%), with the remaining executed through subcontracting (26.1%). This helps balance control with scalability:
| Contract Type | FY25 Revenue | % of Total | FY24 Revenue | % of Total | FY23 Revenue | % of Total |
|---|---|---|---|---|---|---|
| Direct | ₹20.94 Cr | 73.90% | ₹3.72 Cr | 36.62% | ₹0.38 Cr | 61.97% |
| Subcontracting | ₹7.40 Cr | 26.10% | ₹6.48 Cr | 63.38% | ₹0.24 Cr | 38.03% |
From a modest background as Shubhangi Metals Pvt Ltd, Savy Infra has transformed into a high-growth, pan-India EPC and logistics player. The upcoming Savy Infra SME IPO gives investors an opportunity to participate in a company that combines domain expertise, operational efficiency, and recurring revenue streams in some of India’s fastest-growing sectors.
Financial Overview: Savy Infra SME IPO
The financial performance of Savy Infra & Logistics Ltd. has seen an extraordinary surge in the last two years, making the Savy Infra SME IPO especially noteworthy for growth-focused investors.
Between FY24 and FY25, the company’s revenue jumped by 179%, from ₹101.62 crore to ₹283.77 crore. Profit after tax (PAT) surged by 142%, rising from ₹9.87 crore to ₹23.88 crore. This growth wasn’t a one-time spike; the company has shown consistent scaling over the last three financial years.
Here’s a look at the company’s key financials (₹ in Crore):
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Revenue | ₹283.77 Cr | ₹101.62 Cr | ₹6.19 Cr |
| Profit After Tax | ₹23.88 Cr | ₹9.87 Cr | ₹0.34 Cr |
| EBITDA | ₹35.62 Cr | ₹14.95 Cr | ₹0.57 Cr |
| Assets | ₹185.81 Cr | ₹41.70 Cr | ₹10.10 Cr |
| Net Worth | ₹52.25 Cr | ₹10.51 Cr | ₹0.64 Cr |
| Reserves & Surplus | ₹37.27 Cr | ₹10.41 Cr | ₹0.54 Cr |
| Total Borrowing | ₹44.84 Cr | ₹8.49 Cr | ₹3.12 Cr |
In just one year, total assets increased more than 4x, while net worth grew by nearly 5x. Although borrowings also rose, the company maintained a healthy debt-to-equity ratio of 0.86, reflecting a well-managed balance sheet.
Key Performance Indicators (KPIs)
At the time of the IPO, the market cap of Savy Infra stands at ₹249.70 crore. The efficiency and profitability metrics further highlight why the Savy Infra SME IPO is drawing investor attention.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 76.10% |
| Return on Capital Employed (ROCE) | 36.69% |
| Return on Net Worth (RoNW) | 45.70% |
| PAT Margin | 8.43% |
| EBITDA Margin | 12.57% |
| Debt/Equity Ratio | 0.86 |
| Price-to-Book Value | 3.44x |
These numbers reveal a company that is not just growing fast but also generating strong returns on capital and equity, a combination that strengthens the case for subscribing to the Savy Infra SME IPO.
With robust margins, expanding balance sheet strength, and an improving capital structure, Savy Infra appears well-positioned to maintain momentum post-listing.
Valuation & Peer Comparison: Savy Infra SME IPO
The valuation of Savy Infra SME IPO appears attractive when benchmarked against industry peers. Based on the FY25 restated financials, the company commands a price-to-earnings (P/E) ratio of 10.46 post-IPO, which is lower than several listed infrastructure players, despite delivering significantly higher returns.
Pre and Post IPO Valuation Snapshot:
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (₹) | 15.94 | 11.48 |
| P/E (x) | 7.53 | 10.46 |
Even after dilution, the earnings per share remains strong, and the post-issue P/E ratio positions the IPO attractively in the current SME market environment.
Savy Infra IPO Peer Comparison (as of March 31, 2025)
To better understand its market positioning, here’s a comparison of Savy Infra & Logistics Ltd. with similar listed infrastructure and logistics-focused SMEs:
| Company Name | EPS (₹) | NAV/Share (₹) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| Savy Infra & Logistics Ltd. | 16.59 | 34.89 | 10.46* | 45.70% | — |
| AVP Infracon Ltd. | 13.25 | 50.51 | 14.08 | 26.37% | 3.72 |
| Ganesh Infraworld Ltd. | 11.59 | 42.02 | 14.34 | 22.31% | 3.95 |
| Active Infrastructures Ltd. | 8.79 | 74.43 | 19.34 | 11.71% | 2.30 |
*Post-issue P/E ratio
Key Takeaways
- Strong RoNW of 45.7%: This indicates better capital efficiency than peers.
- Higher EPS than competitors, even after dilution.
- Lower P/E ratio, making the Savy Infra SME IPO relatively undervalued in the current market scenario.
- While peers trade at higher P/E multiples, Savy Infra offers better profitability and growth momentum at a discount.
With higher earnings, stronger return ratios, and reasonable valuation, Savy Infra & Logistics Ltd. stands out in the SME infrastructure segment. These metrics give confidence to both growth investors and value-focused buyers.
Grey Market Premium (GMP) Update for Savy Infra & Logistics Ltd IPO
The Savy Infra & Logistics Ltd IPO is currently attracting solid grey market interest. As of July 17, 2025, the GMP stands at ₹15, up from previous sessions — indicating a bullish sentiment among grey market traders.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 17-07-2025 | ₹120.00 | ₹15 (GMP Up Today) | ₹135 (12.50%) | ₹18,000 | 17 July, 2025 |
📊 GMP is a speculative indicator and not a guarantee of listing price. Always do your own research before applying.
This upward movement in GMP suggests investor optimism and the possibility of listing gains of around 12.5%. The grey market is valuing the share at around ₹135, implying an estimated profit of ₹18,000 per lot (2,400 shares) for retail investors if the momentum sustains.
The rising GMP for Savy Infra & Logistics Ltd IPO reflects its strong financial performance, growth in revenues, and investor appetite for infrastructure-logistics plays in the SME space
Conclusion: Should You Invest in the Savy Infra & Logistics Ltd IPO?
Listing Gain / Short-Term View
With a GMP of ₹15 (as of July 17, 2025), the Savy Infra & Logistics Ltd IPO is indicating a potential listing gain of around 12.5%. Strong revenue growth, decent margins, and infrastructure tailwinds are adding to investor optimism. However, SME IPOs tend to be volatile, so listing-day returns may depend on overall market mood.
Verdict: Short-term investors looking for listing gains may consider applying — but should keep risk appetite in mind, as SME stocks can show sharp post-listing moves.
Long-Term View
Savy Infra has demonstrated impressive revenue growth and diversified income streams — spanning EPC, logistics, and ancillary services. Its operations across 9 Indian states offer scale advantages. However, the post-IPO P/E of 10.46 puts it at a slight premium to peers like AVP Infracon and Ganesh Infraworld.
Still, with infrastructure being a government thrust area, and its healthy RoNW of 45.7%, Savy Infra could deliver long-term value if it sustains execution and expands margins.
Verdict: Long-term investors should monitor quarterly growth and profit stability before taking large positions post-listing.
Allotment Strategy
Given the minimum application size of ₹2.88 lakh for retail investors and the limited retail quota (35%), the IPO may see oversubscription in the HNI and retail segments. Since bidding at the cut-off price is not allowed, investors should apply at the upper band of ₹120.
- Retail investors should place bids early and ensure UPI approval before 5 PM on July 23.
- HNI investors (especially sNIIs) looking to improve allotment chances can consider bidding in multiple lots between 3–6.
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FAQs – Savy Infra IPO
Q1. What is the Savy Infra IPO date?
The IPO opens on July 21, 2025 and closes on July 23, 2025.
Q2. What is the Savy Infra IPO price band?
The price band is set at ₹114 to ₹120 per share.
Q3. What is the minimum investment in Savy Infra IPO for retail?
Retail investors must apply for at least 2 lots (2,400 shares), costing ₹2.88 lakhs.
Q4. What is the lot size for Savy Infra IPO?
Each lot consists of 1,200 shares. Minimum application is for 2 lots.
Q5. Is cut-off price bidding allowed in Savy Infra IPO?
No, bidding at the cut-off price is not allowed for any investor category.
Q6. What is the Savy Infra IPO listing date?
Tentative listing date is July 28, 2025 on the NSE SME platform.
Q7. What is the GMP of Savy Infra IPO today?
As of July 17, the GMP is ₹15, indicating a potential 12.5% listing gain.
Q8. Can I apply for Savy Infra IPO via UPI?
Yes, but make sure to approve the UPI mandate by 5 PM on July 23.
Q9. Is Savy Infra IPO good for long-term investment?
It shows strong growth and profitability, but long-term investors should watch execution consistency and margins post-listing.
Q10. Who are the promoters of Savy Infra?
The promoters are Tilak Mundhra and Liladhar Mundhra.
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