Incorporated in 2012, Sai Urja Indo Ventures Limited is offers Operation and Maintenance (O&M) and other support services in industrial plants, primarily in power generation industry and other industries like iron & steel and agrochemicals. The company work includes managing electrical, mechanical, and instrumentation systems, operating coal handling and merry-go-round systems in power plants, as well as ensuring plant cleanliness and safety through industrial housekeeping, equipment overhauls, and manpower supply.
Services:
The services are delivered through four types of contracts based on the tenders which include: Annual Maintenance Contracts (for one to three years), Performance-Based Contracts (linked to plant output or reliability), Manpower Supply Contracts and Short-Term Bill of Quantity Contracts (for temporary needs).
As on June 15, 2026, they have 17 on-going projects for which Rs. 7,165.10 Lakhs worth project execution is pending and 4 projects worth Rs. 2,536.74 Lakhs whose execution is yet to commence.
They offer a wide range of operation & maintenance services, including breakdown, predictive and preventive maintenance, condition monitoring, all field instruments calibration and testing, and other related activities for power plants and other industries.
As on June 30, 2026, they have 1969 employees, who look after day-to-day business operations, HR & accounting functions.
Competitve Strengths:
Sai Urja Indo Ventures Ltd.’s revenue increased by 30% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 24.25 | 21.11 | 13.95 |
| Total Income | 85.64 | 65.82 | 45.88 |
| Profit After Tax | 4.19 | 3.13 | 1.39 |
| EBITDA | 6.51 | 5.14 | 2.93 |
| NET Worth | 12.20 | 7.76 | 4.72 |
| Reserves and Surplus | 6.39 | 1.95 | 4.71 |
| Total Borrowing | 7.18 | 5.35 | 2.15 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Aegeus Technologies Ltd. | SME | ₹23.71 Cr | ₹105 | 15.98 | ₹130.70 | +24.48% | ₹126.05 |
| Propshop Events & Exhibitions Ltd. | SME | ₹28.57 Cr | ₹69 | 12.32 | ₹57.15 | -17.17% | ₹71.65 |
| PAN HR Solutions Ltd. | SME | ₹17.04 Cr | ₹78 | 8.41 | ₹78.01 | +0.01% | ₹43.99 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company | 8.00 |
| 2 | Repayment/prepayment, in full or part, of certain loans availed by the Company | 6.60 |
| 3 | General Corporate Purposes | |
| Total | 14.60 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 42.44% |
| ROCE | 50.66% |
| Debt/Equity | 0.59 |
| RoNW | 42.44% |
| PAT Margin | 4.98% |
| EBITDA Margin | 7.65% |
| NAV | 20.99 |
| Price to Book Value | 8.46 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 5.39 | 4.10 |
| P/E (x) | 20.96 | 27.56 |
| IPO Date | 25 to 29 Sep, 2026 |
| Listing Date | Mon, Oct 5, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹107 to ₹113 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 22,08,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker |
2,16,000 shares
(agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) |
16,12,800 shares (agg. up to ₹18 Cr) |
| Offer for Sale | 3,79,200 shares of ₹10 (agg. up to ₹4 Cr) |
| Net Offered to Public | 19,92,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 58,10,000 shares |
| Share Holding Post Issue | 76,38,800 shares |
The promoters of the company are Harsh Ajaykumar Mittal and Santosh Ajay Kumar Mittal.
| Share Holding Pre Issue | 92.87% |
| Share Holding Post Issue | 65.67% |
As per our analysis and Based on the information we have, this is the output.
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