Sai Urja Indo Ventures Shares List at 18.41% Premium at ₹133.80 on BSE SME

Sai Urja Indo Ventures shares made their stock market debut on October 5, 2026, listing at ₹133.80 per share on BSE SME, compared with the IPO issue price of ₹113 per share. The listing represented a premium of 18.41%.

Following the listing, the stock moved lower and traded at ₹129.30 in a later verified snapshot. During the session, it touched a high of ₹133.80 and a low of ₹127.15.

The listing followed Sai Urja Indo Ventures' IPO, which was open from September 25 to September 29, 2026. The ₹24.95 crore issue received overall subscription of 4.95 times and was priced in a band of ₹107 to ₹113 per share.

Sai Urja Indo Ventures provides operation and maintenance and other support services to industrial plants, primarily across power generation, iron and steel and agrochemical industries.

Sai Urja Indo Ventures IPO Listing Details

Sai Urja Indo Ventures IPO was a ₹24.95 crore book-building SME issue comprising a fresh issue of ₹20.67 crore and an offer for sale of ₹4.28 crore.

The fresh issue comprised approximately 18.29 lakh shares, while the OFS comprised approximately 3.79 lakh shares.

The IPO opened on September 25 and closed on September 29, 2026. The price band was fixed at ₹107 to ₹113 per share.

The IPO was subscribed 4.95 times overall. NIIs recorded 9.90 times subscription, Individual Investors 4.04 times and QIBs excluding anchor investors 2.80 times.

Sai Urja Indo Ventures listed at ₹133.80 on BSE SME against the ₹113 issue price.

• Issue Price: ₹113 per share

• BSE SME Listing Price: ₹133.80 per share

• Listing Premium: 18.41%

• Trading Price: ₹129.30 per share

• Change From Issue Price: 14.42%

• Intraday High: ₹133.80

• Intraday Low: ₹127.15

• Overall Subscription: 4.95 times

• Fresh Issue: ₹20.67 crore

• Offer for Sale: ₹4.28 crore

• Price Band: ₹107 to ₹113 per share

• IPO Open Date: September 25, 2026

• IPO Close Date: September 29, 2026

• Listing Date: October 5, 2026

• Exchange: BSE SME

First-Day Trading Performance

Listing Price: Sai Urja Indo Ventures share price listed at ₹133.80, representing an 18.41% premium over the ₹113 issue price.

Post-listing price: The stock later traded at ₹129.30, which remained 14.42% above the issue price but was 3.36% below the listing price.

Intraday high: The session high of ₹133.80 matched the listing price and stood 18.41% above the issue price.

Intraday low: The stock touched ₹127.15, which was 12.52% above the IPO issue price.

Subscription context: The IPO received overall subscription of 4.95 times, with NIIs subscribing 9.90 times.

Growth Drivers and Challenges

Growth Drivers

Power-Sector Services: Sai Urja provides O&M services to power-generation facilities.

Industrial Customer Base: Its services also extend to iron and steel and agrochemical facilities.

Service Portfolio: Offerings include electrical, mechanical and instrumentation operations, coal handling, overhauls, housekeeping, safety and manpower support.

Order Book: The company's project pipeline provides visibility across ongoing and yet-to-commence contracts.

Recurring O&M Activity: Maintenance and operational support contracts can provide recurring service opportunities where contracts are renewed or extended.

Challenges

Customer Concentration: Project revenues may be dependent on a limited group of industrial customers.

Contract Execution: Profitability depends on manpower deployment, equipment availability and execution against service-level requirements.

Working-Capital Requirements: Service contracts can involve timing differences between operating expenses and customer collections.

Sector Dependence: A significant part of the business is linked to power-generation and industrial activity.

Tender Competition: O&M contracts may be awarded through competitive bidding processes.

Utilisation of IPO Proceeds

Sai Urja Indo Ventures' ₹24.95 crore IPO comprised a ₹20.67 crore fresh issue and a ₹4.28 crore offer for sale.

The company proposes to use the fresh issue proceeds towards working-capital requirements and repayment or prepayment of certain borrowings.

The remaining proceeds are intended for general corporate purposes and offer-related expenses.

Principal uses include:

• Funding working-capital requirements

• Repayment or prepayment of borrowings

• General corporate purposes

• Offer-related expenses

The company does not receive the proceeds from the offer-for-sale component.

Business and IPO Overview

Sai Urja Indo Ventures Limited provides operation and maintenance and support services for industrial plants.

Its principal customer sectors include power generation, iron and steel and agrochemicals.

The company's services cover electrical, mechanical and instrumentation activities, equipment maintenance and overhaul, coal handling, housekeeping, safety management and manpower deployment.

The ₹24.95 crore IPO comprised a ₹20.67 crore fresh issue and a ₹4.28 crore OFS. Its price band was ₹107 to ₹113 per share.

The issue was subscribed 4.95 times overall, led by NIIs at 9.90 times.

Sai Urja Indo Ventures listed at ₹133.80 on BSE SME on October 5, an 18.41% premium to the issue price, before trading at ₹129.30.