Sugs Lloyd IPO Listing: GMP at 1%, Subscription Figures Decent but Listing Expectations Muted

Sugs Lloyd, a technology-driven engineering and construction company, is set to debut on the BSE SME platform with a GMP of around 1%. The Rs 85.66 crore IPO received a healthy overall subscription of 3.23 times, with non-institutional investors leading the way. Proceeds from the IPO will primarily go towards meeting the company's growing working capital needs and general corporate expenses.

Sugs Lloyd, a technology-driven engineering and construction company, is set to debut on the BSE SME platform with a GMP of around 1%. The Rs 85.66 crore IPO received a healthy overall subscription of 3.23 times, with non-institutional investors leading the way. Proceeds from the IPO will primarily go towards meeting the company's growing working capital needs and general corporate expenses.

The IPO, which opened for subscription between August 29 and September 2, saw strong demand, particularly from non-institutional investors. The non-institutional investor category was subscribed 5.30 times, while the retail portion was subscribed 2.12 times. The Qualified Institutional Buyer (QIB) category was subscribed 2.03 times [1].

The company proposes to utilize the net proceeds from the IPO to meet working capital requirements and for general corporate purposes. The IPO allotment date is set for Wednesday, September 3, and it is set to make its stock market debut on Friday, September 5 [2].

Sugs Lloyd, incorporated in 2009, specializes in renewable energy, particularly solar energy, as well as electrical transmission, distribution, and civil EPC projects. The company offers a comprehensive range of services, including the development of power transmission and distribution infrastructure, construction of power substations, and the renovation, upgrading, and modification of existing power systems [3].

The company reported revenue from operations of Rs 176.20 crore in FY25, a growth of over 171 per cent from Rs 65.12 crore in FY24. Its net profit rose to Rs 16.72 crore from Rs 8.70 crore in the previous fiscal [2].

References:
[1] https://www.livemint.com/market/ipo/sugs-lloyd-day-1-latest-gmp-subscription-status-listing-date-other-details-about-sme-ipo-11756457473267.html
[2] https://m.economictimes.com/markets/ipos/fpos/sugs-lloyd-ipo-receives-3-23-times-subscription-on-final-day-of-offer/articleshow/123660556.cms
[3] https://www.business-standard.com/markets/ipo/sugs-lloyd-ipo-receives-3-23-times-subscription-on-final-day-of-offer-125090201377_1.html