Srinibas Pradhan Constructions Limited hit the stock market today, Friday, March 13, 2026, making its debut on the NSE SME (Emerge) platform.

The stock opened at ₹100.05 per share, giving investors a 2.09% gain over the IPO price of ₹98. This performance was in line with grey market expectations, which had signaled a flat or marginal listing ahead of the debut. After opening, the stock pushed a bit higher and touched an intraday high of ₹105.

The company raised ₹20.32 crore through its IPO, which ran from March 6 to March 10. The issue saw moderate interest from the investing public the issue got subscribed 1.13 times overall. Most of that demand came from Non-Institutional Investors (NIIs), whose portion was subscribed 1.57 times, and Qualified Institutional Buyers (QIBs) at 1.13 times. Retail investors, on the other hand, didn't rush in; their portion was subscribed just 0.69 times. Shares were priced between ₹91 and ₹98, and investors needed to buy at least 1,200 shares in a lot.

Founded in 2020 and based in Odisha, Srinibas Pradhan Constructions focuses on infrastructure-think roads, highways, bridges, and industrial facilities. The company's been on a solid growth path: revenue jumped from ₹26.35 crore in FY23 to ₹89.73 crore in FY25. Profit after tax climbed as well, from ₹1.48 crore to ₹6.59 crore over the same period. As of February 2026, the order book stood at around ₹184 crore, which gives the company a good runway for future revenue.

The IPO included a fresh issue of about ₹16.79 crore and an offer for sale (OFS) worth ₹3.53 crore. Most of the new funds will go straight into working capital-crucial for keeping projects on track. Some money will also help pay down existing loans and su
pport general corporate needs, all aimed at keeping the company's finances healthy as it looks to expand.