GNI Infrastructure Limited, a Maharashtra-based construction and infrastructure firm, has taken a significant step toward the public markets by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 30, 2026. The company is looking to raise funds through an Initial Public Offering (IPO) to support its growing operational needs and business expansion.
Here is a comprehensive breakdown of the proposed GNI Infrastructure IPO.
IPO Details at a Glance
The proposed IPO is a book-built issue consisting of both a fresh issue and an Offer for Sale (OFS).
- Total Issue Size: Up to 3.04 crore (30,417,854) equity shares.
- Fresh Issue: Up to 2.10 crore (21,029,642) equity shares.
- Offer for Sale (OFS): Up to 93.88 lakh (9,388,212) equity shares offloaded by promoters and existing shareholders.
- Face Value: ₹10 per equity share.
- Listing: The equity shares are proposed to be listed on the BSE and NSE.
- Lead Managers: SMC Capitals Limited and Marwadi Chandarana Intermediaries Brokers Private Limited are the book-running lead managers for the issue.
- Registrar: KFin Technologies has been appointed as the registrar for the IPO.
(Note: Key details such as the IPO opening and closing dates, price band, and lot size are yet to be announced.)
Objectives of the Fresh Issue
According to the draft papers, GNI Infrastructure plans to utilize the net proceeds from the fresh issue for the following purposes:
- Funding Working Capital Requirements: A significant portion of the funds will be directed toward meeting the company’s day-to-day operational expenses and working capital needs.
- General Corporate Purposes: The remaining capital will be used for broader corporate initiatives and business expansion.
About GNI Infrastructure
Established in 2007, GNI Infrastructure brings over four decades of collective experience in executing road infrastructure projects. The company operates primarily in Maharashtra, focusing on the construction, widening, upgradation, repair, and maintenance of roads and highways. It primarily executes projects under the Engineering, Procurement, and Construction (EPC) model.
In addition to road infrastructure, GNI Infrastructure has strategically diversified its portfolio into solid waste management through biomining legacy waste projects. The company boasts a strong order book, predominantly supported by government and public sector clients across infrastructure, transportation, and urban development.
Financial Snapshot
GNI Infrastructure has demonstrated consistent financial performance over the past few years. Below is a brief look at the company’s restated consolidated financials:
| Period Ended | Total Income (₹ Cr) | Profit After Tax (₹ Cr) | EBITDA (₹ Cr) |
| Dec 31, 2025 (9 Months) | 250.15 | 49.66 | 87.64 |
| March 31, 2025 (FY25) | 338.37 | 76.12 | 108.64 |
| March 31, 2024 (FY24) | 211.03 | 46.96 | 63.58 |
| March 31, 2023 (FY23) | 323.48 | 75.41 | 110.41 |
As of December 31, 2025, the company reported a Return on Net Worth (RoNW) of 12.55%.