Savy Infra IPO listing: Shares open at 13.75% premium, fall short of grey market estimates

Savy Infra shares listed at ₹136.50 per share, a 13.75% premium over the IPO issue price of ₹120. The IPO was oversubscribed by 114 times and the funds raised will be used for working capital and general corporate purposes. The shares fell short of grey market estimates, which had pegged the shares at a premium of ₹26 or 21.67% over the upper end of the issue price.

Savy Infra & Logistics, an engineering, procurement, and construction (EPC) firm, saw its shares listed at ₹136.50 per share, marking a 13.75% premium over the IPO issue price of ₹120. The IPO, which was oversubscribed by 114 times, received bids for 444.36 million shares compared to the 3.87 million shares available. The high demand generated excitement about the company's performance on the stock market [1].

The IPO subscription period was from July 21 to July 23, 2025, and the allotment of shares was finalized on July 24, 2025. Successful bidders had their shares credited to their Demat accounts by July 25, 2025. The shares were listed on the NSE SME platform on July 28, 2025. The funds raised from the IPO will be used for working capital and general corporate purposes. Prior to the public offering, the company raised Rs 19.93 crore from anchor investors [2].

The Savy Infra IPO was oversubscribed by 114 times, with the retail portion oversubscribed 91.62 times, the non-institutional investors' portion subscribed 196.44 times, and the Qualified Institutional Buyer (QIB) category seeing a strong subscription of 93.02 times [1]. The IPO proceeds will be used for working capital and general corporate purposes.

Savy Infra & Logistics focuses on large-scale earthwork, foundation preparation, and civil infrastructure projects, including road construction, embankment creation, and surface paving. The company follows an asset-light business model, leasing trucks and construction equipment rather than owning them. This allows the company to scale operations without heavy capital investments [2].

The shares fell short of grey market estimates, which had pegged the shares at a premium of ₹26 or 21.67% over the upper end of the issue price. The grey market premium (GMP) for Savy Infra shares was Rs 25, indicating a possible listing price of Rs 145, a premium of about 21% over the issue price of Rs 120 [1].

References:

[1] https://www.goodreturns.in/ipo/savy-infra-logistics-ipo-subscribed-114x-check-allotment-status-gmp-and-listing-date-details-1444523.html

[2] https://www.business-standard.com/markets/news/savy-infra-ipo-fully-subscribed-on-day-1-qibs-lead-demand-gmp-at-12-125072100543_1.html