Integrity Infra IPO sees muted demand; subscription lags at 77%, GMP nil

Integrity Infra IPO subscription status Day 2: The portion booked for retail investors is subscribed 57 per cent, and the NII quota is subscribed 63 per cent

Integrity Infra IPO subscription status Day 2: The initial public offering (IPO) of Integrity Infrabuild Developers opened for subscription on Tuesday, May 13, 2025. The SME public issue has received a muted response from investors so far, as the issue has been subscribed around 77 per cent as of 11 AM on Wednesday, May 14, according to data from the National Stock Exchange. The portion booked for retail investors is subscribed 57 per cent, and the non-institutional investor's quota is subscribed 63 per cent.  

 

The company has reserved not less than 50 per cent of the issue for retail investors and the remaining for corporate bodies, institutional investors, qualified institutional buyers (QIBs), and non-institutional investors (NIIs).

 

Integrity Infrabuild Developers IPO GMP

On Wednesday, the unlisted shares of Integrity Infrabuild Developers were trading flat at ₹100, the issue price, in the grey market, according to the sources tracking unofficial markets. 

 

Integrity Infrabuild Developers IPO details

The public issue will close for bidding on Thursday, May 15. The basis of allotment of shares is likely to be finalised on Friday, May 16. The shares will list on the NSE SME platform tentatively on Tuesday, May 20. 

 

The company aims to raise ₹12 crore through a fresh issue of 1.2 million equity shares. There is no offer for sale (OFS) component. 

 

Integrity Infrabuild has fixed the issue price at ₹100 apiece. Retail investors require a minimum investment amount of ₹1,20,000 to subscribe for a minimum of one lot comprising 1,200 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots consisting of 2,400 shares with a minimum investment amount of ₹2,40,000.

 

Link Intime India is the registrar of the issue. Aryaman Financial Services is the book-running lead manager of the Integrity Infrabuild Developers IPO. 

 

According to the RHP, the company plans to utilise ₹5.03 crore from the net issue proceeds to purchase machinery and equipment, and ₹3.64 crore to meet working capital requirements. The remaining ₹2.4 crore will be used for general corporate purposes.

 

About Integrity Infrabuild Developers

Integrity Infrabuild Developers is an integrated civil contract company registered as a Class-A contractor with the Government of Gujarat. It specialises in contracting and sub-contracting services for various government projects, including road construction, building, and bridge construction. The company is promoted by Keyurkumar Sheth, Rajendrakumar Sheth and Disha Keyurkumar Sheth. From FY22, Integrity Infrabuild has completed 111 projects having an aggregate contract value of ₹213.3 crore, which includes 103 roads and eight buildings.