Swastika Infra IPO
Swastika Infra Limited (SWASTIKAIN) · mainboard IPO on NSE and BSE · Book Building. Listed on 30 September 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.1% (likely range -11% to +5%), day's high +2.5%, chance of a gain 51%. Actual: +8.1% at the open, +13.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 17,88,572 | 57,55,941 | 3.22x | |
| NII (HNI) total | 13,63,929 | 2,52,33,525 | 18.5x | |
| Big NII (above ₹10 lakh) | 9,09,286 | 1,81,89,522 | 20.0x | |
| Small NII (₹2-10 lakh) | 4,54,643 | 70,44,003 | 15.5x | |
| Retail | 31,82,500 | 1,71,61,794 | 5.39x | |
| Total | 63,35,001 | 4,81,51,260 | 7.60x |
Bids on NSE and BSE together, as published by NSE, as of 25 Sep 2026, 07:00 PM. Shares offered exclude the anchor portion. 32% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Swastika Infra's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Gaudium IVF and Women HealthFeb 2026 | 1.62x | 14.1x | 7.60x | 7.27x | ₹165 Cr | +5.1% | +10.3% |
| HPL Electric and PowerSep 2016 | 5.77x | 22.2x | 3.31x | 8.06x | ₹417 Cr | -5.9% | -2.0% |
| AGS Transact TechnologiesJan 2022 | 2.68x | 25.6x | 3.08x | 7.79x | ₹717 Cr | 0.0% | +3.9% |
| Xtranet TechnologiesJul 2026 | 7.13x | 26.7x | 8.98x | 12.2x | ₹167 Cr | +7.1% | +7.8% |
| Apex Frozen FoodsAug 2017 | 1.91x | 7.82x | 8.53x | 6.14x | ₹152 Cr | +15.4% | +21.2% |
| PSP ProjectsMay 2017 | 8.38x | 10.4x | 6.47x | 8.58x | ₹212 Cr | -9.5% | -5.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Srujan Alpha Capital Advisors LLP | — | — | — |
| PhillipCapital (India) | 2 | +5.0% | 100% |
Offer documents (NSE)
Frequently asked
What is the Swastika Infra IPO price band and lot size? ₹175–185 per share, with a lot of 81 shares, so the smallest retail bid is ₹14,985.
How many times has it been subscribed? 7.60x overall: QIB 3.22x, NII 18.5x, retail 5.39x.
How did it list? It opened at ₹200, +8.1% against the issue price of ₹185, and closed its first day +13.5%.
