Sattva Engineering Construction IPO GMP, Date, Price Band & Review

The size of the Sattva Engineering Construction IPO is estimated to be around ₹33.02-₹35.38 crore with a 100% fresh issue with no offer-for-sale. The IPO is planned on the NSE Emerge SME Platform through the book-building process. Bids can be made for a minimum of 1600 equity shares and in multiples of 1600 shares thereafter. The initial public offering is scheduled to open on 26 August 2025 and will close on 29 August 2025. The shares are proposed to be listed at BSE and NSE on or around 3 September 2025 and the price band for the offer has been fixed at ₹70 to ₹75 per share. Vivro Financial Services is the book-running lead manager to the issue, while the registrar is MUFG Intime India and the market maker is Rikhav Securities.

Company Background

Sattva Engineering Construction Ltd is based in Chennai and is an EPC contractor for water resource and waste water infrastructure including water supply pipelines, rising mains, UGSS/sewer networks, overhead/underground tanks, pumping stations and WTP/STP constructions apart from some industrial and commercial builds like factories, warehouses and power-related facilities and commercial complexes and also a few residential works like apartments and bungalows. The company holds ISO certifications (ISO 9001:2015, ISO 14001:2015, ISO 45001:2018) and Class I registrations with state and municipal bodies, which enable it to bid at higher levels in public tenders in its core markets, specifically in South India.

Operations & Product Range

Facility & Production

SECL executes end-to-end EPC scopes—survey, design, procurement, civil works, electro-mechanical installation, testing and commissioning of water distribution pipelines, rising mains, sewer/UGSS networks, OH/UG tanks, pumping stations, w/s & s/treatment plants and also delivers FACTs, warehouses, power associated utilities, commercial complex and selective residential builds under ISO-aligned quality, environment & safety processes.

Brands & Market Presence

The company serves Procore under its SECL corporate brand with a prominent public-sector presence in South India, including participation in state / municipal tender ecosystems via Class I registrations with PWDs, water boards and urban local bodies.

Revenue Channels

• The company's primary revenue source is EPC contracts for water supply schemes, wastewater/sewerage networks, WTP/STP construction, storage tanks and pumping stations.
• Additional revenue comes from industrial and commercial build-to-suit contracts (factories, warehouses, power-linked facilities) and selective residential projects.

Management & Shareholding

Promoters & Shareholding

Promoters of the latter are Santhanam Seshadri R. Sekar and Jagachchandarr Sekar Uthra and since there is no OFS and only a pure fresh issue, dilution happens only by offering of new equity to the public.

Board Members

The board also includes whole-time directors S. Seshadri and R. Sekar, independent director V. Sankar and whole-time director & CFO G. Sujatha, each of whom possesses decades of experience in EPC execution, finance and budgeting, manufacturing operations and quality systems.