Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
Absolute Project (India) Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on March 30, 2026 to raise funds through Initial Public Offer (IPO).
Absolute Project (India) Ltd. IPO is a Book Build Issue consisting solely of fresh issue of upto 2.00 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. Cumulative Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Absolute Project India IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,00,00,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 2,00,00,000 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 4,30,13,585 shares |
| Share Holding Post Issue | 6,30,13,585 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Mar 30, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Issue |
| Retail Shares Offered | Not less than 35.00% of the Issue. |
| NII Shares Offered | Not less than 15.00% of the Issue |
Incorporated in February 1995, Absolute Projects Limited is an EPC company with in-house manufacturing of electrical and structural components for their infrastructure.
As of December 31, 2025, under the Potheyr EPC portfolio, the company has completed 2,480 CKM of transmission and distribution lines. This includes installing a 885 MVA transformer and a 7,53,682 kVA distribution transformer.
They laid 43.20 km of 66 kV and 33 kV underground cables and 8,311 km of LT distribution lines. They also built 55 substations from 33 kV to 220 kV, including air-insulated and gas-insulated types.
As of December 31, 2025, the Order Book was ₹74,753.03 lakhs, reflecting estimated revenue from unexecuted contract parts.
The company's business verticals includes the following:
The company has a footprint across twelve (12) states and three (3) union territories in India.
Competitive Strength
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 321.60 | 285.85 | 201.31 | 139.48 |
| Total Income | 138.29 | 312.12 | 251.07 | 141.68 |
| Profit After Tax | 9.37 | 21.00 | 14.65 | 2.90 |
| EBITDA | 14.27 | 28.98 | 20.72 | 6.09 |
| NET Worth | 124.70 | 103.29 | 56.73 | 41.90 |
| Reserves and Surplus | 116.18 | 95.00 | 49.40 | 34.73 |
| Total Borrowing | 100.87 | 88.63 | 30.96 | 23.52 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards procurement of; (i) plant and machinery for modernization of Manufacturing Facility I; (ii) procurement of plant and machinery for commencement of operations at Manufacturing Facility II; and (iii) certain equipment and machineries required for execution of Power EPC Projects | 40.66 |
| 2 | Repayment or pre-payment, in part or full of certain borrowings availed by the Company | 49.11 |
| 3 | Funding of working capital requirement of the Company | 40.00 |
| 4 | General Corporate Purposes | |
| Total | 129.77 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 20.34% |
| ROCE | 14.74% |
| Debt/Equity | 0.86 |
| RoNW | 20.34% |
| PAT Margin | 6.85% |
| EBITDA Margin | 9.45% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 72% |
Lead Manager Reports
Absolute Project India IPO is a main-board IPO of 2,00,00,000 equity shares of the face value of ₹2 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Absolute Project India IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Absolute Project India IPO using UPI as a payment gateway. Zerodha customers can apply in Absolute Project India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Absolute Project India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Absolute Project India IPO dates are not announced. Please check back again after some time.
Absolute Project India IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Absolute Project India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Absolute Project India IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Absolute Project India IPO allotment status.
The Absolute Project India IPO listing date is not yet announced. The tentative date of listing is .
