Pratham EPC Projects Ltd Share Price – NSE

Infrastructure Developers & Operators, Small Cap

The scope of order includes engineering, procurement and construction (EPC) contract of onshore/offshore crude oil pipelines in gulf of Khambhat & other fields of Gujarat.

The work order is to be executed in 36 months and the cost of the project is 497 crore.

Pratham EPC Projects is an integrated engineering, procurement, construction and commissioning company being in business of end-to end service providers to Oil & Gas distribution companies in India. The company specializes in oil & gas pipelines for cross country distribution and city gas distribution. It also undertakes offshore projects for water distribution specifically project bidding & project management. As on 30 September 2023, the company has 770 on roll employees.

The company reported 73.24% jump in net profit to Rs 7.64 crore on 0.53% fall in revenue from operations to Rs 50.20 crore in FY23 over FY22.

Shares of Pratham EPC Projects debuted on stock market on 18 March 2024. The scrip was listed at Rs 113.30, exhibiting a premium of 51.07% to the issue price 75.

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The scrip was listed at Rs 113.30, a premium of 51.07% compared with the initial public offer (IPO) price. The stock is currently frozen at an upper limit of 5% over its listing price.

The counter hit a high of Rs 118.95 and a low of Rs 110. About 24.29 lakh shares of the company changed hands at the counter.

Pratham EPC Projects' IPO was subscribed 118.83 times. The issue opened for bidding on 11 March 2024 and it closed on 13 March 2024. The price band of the IPO was fixed at Rs 71 to 75 per share.

The IPO comprised fresh issue of 48,00,000 shares. The promoter and promoter shareholding diluted to 72.97% from 100% pre-IPO.

The company intends to utilise the net fresh issue proceeds for purchase of machinery, to meet working capital requirements, general corporate purpose and to meet public issue expenses.

Ahead of the IPO, Pratham EPC Projects on 7 March 2024, raised Rs 10.24 crore from anchor investors. The board allotted 13.66 lakh shares at Rs 75 per share to 7 anchor investor.

Pratham EPC Projects is an integrated engineering, procurement, construction and commissioning company being in business of end-to end service providers to Oil & Gas distribution companies in India. The company has been executing various gas pipeline project handling all pipeline activities like, mainline welding, tie-in, coating, hydro testing, pipeline commissioning etc. The company specializes in oil & gas pipelines for cross country distribution and city gas distribution. It also undertakes offshore projects for water distribution specifically project bidding & project management. As on September 30, 2023, the company has 770 on roll employees.

The company recorded revenue from operations of Rs 34.78 crore and net profit of Rs 5.24 crore for the period as on 30 September 2023.

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