Bookbuilding IPO | ₹400 Cr | Listing at BSE, NSE |
Shivganga Drillers Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on December 12, 2025 to raise funds through Initial Public Offer (IPO).
Shivganga Drillers Ltd. IPO is a Book Build Issue of ₹400.00 crores consisting solely of fresh issue of shares with no offer for sale component.
The equity shares are proposed to be listed on NSE and BSE. Aryaman Financial Services Ltd. is the book running lead manager and Bigshare Services 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 Shivganga Drillers IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹400 Cr) |
| Fresh Issue | [.] shares (agg. up to ₹400 Cr) |
| Share Holding Pre Issue | 5,35,48,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Dec 12, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than15% of the Net Issue |
Incorporated in August 2005, Shivganga Drillers Limited offers service spanning rig deployment, operation and maintenance, workover services and ancillary support required during different phases of drilling programmes.
The company’s operations are organised around long-term and project-based contracts, under which it mobilises rigs, crew, and equipment to customer sites and executes drilling and workover campaigns in accordance with agreed technical and safety standards. Shivganga Drillers Limited focuses on timely execution, adherence to health, safety and environment (HSE) norms and cost-efficient operations to support its clients’ field development and production objectives.
The company offers a full stack of services, including turnkey, performance-based drilling solutions based on metrics such as per-meter progress. This enables clients to reduce costs and improve efficiency.
They also provide hire and rental models for essential equipment and services. Performance-Based Drilling is an emerging model that ties contractor payment to pre-agreed key performance indicators instead of time or footage drilled. This shifts the contractor from a service provider to a solution partner, offering many advantages.
Services Offered:
The company provides a diverse range of services across various sectors of the oil and gas industry.
The company holds the complete triad of ISO 9001, ISO 14001, and ISO 45001 certifications, and is a recognised member of the International Association of Drilling Contractors (IADC).
As of October 31, 2025, the company had 432 employees across various verticals, including Operations, Purchase, Quality, HSE, Sales, Marketing, Business Development, HR, and Finance, with 403 permanent employees.
Competitive Strength:
Shivganga Drillers Ltd.'s revenue increased by 82% and profit after tax (PAT) rose by 127% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 342.01 | 297.06 | 209.30 | 91.09 |
| Total Income | 97.87 | 359.90 | 197.39 | 64.74 |
| Profit After Tax | 20.78 | 62.34 | 27.46 | 3.92 |
| EBITDA | 31.47 | 112.43 | 51.09 | 11.31 |
| NET Worth | 159.76 | 138.98 | 76.22 | 48.75 |
| Reserves and Surplus | 154.47 | 133.69 | 71.35 | 43.88 |
| Total Borrowing | 84.28 | 89.41 | 91.53 | 25.07 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure towards purchase of Plant and Machinery | 285.00 |
| 2 | Repayment or pre-payment, in full or part, of certain borrowings availed by the Company | 85.50 |
| 3 | General Corporate Purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 44.86% |
| ROCE | 54.50% |
| Debt/Equity | 0.64 |
| RoNW | 44.86% |
| PAT Margin | 17.59% |
| EBITDA Margin | 31.72% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.64 | |
| Promoter Holding | 98.70% |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission, as applicable) | |
| 2 | Commission/processing fee for SCSBs, Banker(s) to the Issue and fee payable to the Sponsor Bank for Bids made by RIIs and Eligible Employees. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDRs | |
| 3 | Fees payable to Registrar to the Issue | |
| 4 | Fees payable to other advisors to the Issue (including statutory auditors, industry expert and independent chartered accountant) | |
| 5 | Others | |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 7 | Printing and distribution of stationery | |
| 8 | Fees payable to legal counsel | |
| 9 | Advertising and marketing expenses | |
| 10 | Miscellaneous |
Lead Manager Reports
Shivganga Drillers IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹400 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Shivganga Drillers IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Shivganga Drillers IPO using UPI as a payment gateway. Zerodha customers can apply in Shivganga Drillers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shivganga Drillers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shivganga Drillers IPO dates are not announced. Please check back again after some time.
Shivganga Drillers IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Shivganga Drillers 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 Shivganga Drillers IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Shivganga Drillers IPO allotment status.
The Shivganga Drillers IPO listing date is not yet announced. The tentative date of listing is .
