September 28, 2025
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IPO Key Dates
| Anchor Investor Subscription | Â |
| IPO opens on | 29 Sept. 2025 |
| IPO Closes on | 3 Octo 2025 |
| Allotment on | 6 Octo. 2025 |
| Credit of shares on | 7 Octo. 2025 |
| Tentative Listing on | 8 Octo.2025 |
| Registered office in.. |
| Hyderabad, Telangana Email-cs@chiraharit.com |
| Lead Manager of the IPO |
| Finshore Management Services ltd |
| Registrar to the IPO |
| Bigshare Services Pvt ltd |
Business:
Incorporated in 2006, Chiraharit Limited is engaged in providing innovative and sustainable solutions across multiple sectors with a focus on quality execution. The company specializes in turnkey EPC projects in the water management and renewable energy segments. Its water solutions cater to irrigation, solar module cleaning, dust suppression for cement plants and reliable supply for housing projects. In the renewable energy space, the company undertakes construction of Compressed Bio-Gas (CBG) plants, handling complete civil, mechanical and pumping systems on a turnkey basis. With emphasis on sustainability and efficiency, Chiraharit has positioned itself as a reliable partner for project-specific, technology-driven solutions.
IPO Details
| Â | |
| IPO opens on | 29 September 2025 |
| IPO closes on | 3 October 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 147,96,000 Shares / Rs 31.07 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 744,000 Shares |
| Net offer to Public | 140,52,000 Shares Rs. 29.51 Crores |
| Face Value per share | Rs. 1 |
| Price Band | Rs. 21 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 6000 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market makers | 5.03% |
| NII (HNI)Â | 47.49% |
| Retail Shares | 47.49% |
| Total Shares | 100.00% |
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 12,000 | ₹2,52,000 |
| Retail (Max) | 2 | 12,000 | ₹2,52,000 |
| HNI (Min) | 3 | 18,000 | ₹3,78,000 |
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The Promoters’ Holding
The promoters hold 100% of the pre-IPO capital
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects of the Issue | ₹ in crores |
| Funding Capital Expenditure towards setting up HDPE Ball Valves and Fittings Manufacturing Unit | 5.26 |
| Repayment and/or pre-payment, in full or part, of certain borrowings | 3.9 |
| Working Capital Requirements | 14.13 |
| Issue Related Expenses | 3.11 |
| General Corporate Expenses | 4.66 |
Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 40.58 | 25.77 | 22.71 |
| Total Income | 59.8 | 30.57 | 33.03 |
| Profit After Tax | 6.02 | 0.6 | 0.42 |
| EBITDA | 9.76 | 2.36 | 1.69 |
| NET Worth | 9.57 | 3.31 | 2.57 |
| Reserves and Surplus | 5.57 | 3.06 | 2.32 |
| Total Borrowing | 20.22 | 16.3 | 15.92 |
| Amount in ₹ Crore | |||
Peer Comparison:
| Company Name | P/EÂ (x) | RoNWÂ (%) | P/BVÂ Ratio |
| Chiraharit Limited | 13.95 | 62.91 | 10.5 |
| Polysil Irrigation Systems | -112.15 | -8.15 | 9.1 |
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Key Financial Indicators
| KPI | Values |
| ROE | 62.91% |
| ROCE | 32.29% |
| Debt/Equity | 2.11 |
| RoNW | 62.91% |
| PAT Margin | 10.10% |
| EBITDA Margin | 16.36% |
| Price to Book Value | 8.79 |
| EPS | 1.51 |
| PER | 13.95 |
IPO Recommendation/Concise Review-
So-so, May Avoid
Quicklinks
- Market Analysis by Nagaraj Shetti
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