Shivalaya Construction plans ₹450 crore IPO to cut debt
Shivalaya Construction, known for building roads and bridges across India, is planning a ₹450 crore IPO to help pay off its debts.
The company just filed the paperwork with SEBI, and most of the money raised (about ₹340 crore) will go toward reducing what it owes.
There's also an offer-for-sale from promoters, and any leftover funds will be used for general business needs.
Financials and project details
As of March 2025, Shivalaya had borrowings of ₹3,048 crore but pulled in revenues of ₹3,124 crore during fiscal 2025.
They might do a pre-IPO placement worth up to ₹90 crore to shrink the main offer size.
Since starting out in 2007, Shivalaya has finished 41 projects in 19 states and union territories—covering over 2,700 lane kilometers—and is currently working on new projects totaling another 1,500 lane kilometers with an order book valued at ₹3,627 crore.