Integrity Infrabuild Developers Ltd SME IPO 2025 – Complete Investor Guide
The Integrity Infrabuild Developers Ltd SME IPO is one of the latest SME IPOs in India in 2025. This fixed-price issue on the NSE SME platform opens on 13 May 2025 and closes on 15 May 20250. The bid price is set at ₹100 per share (face value ₹10), aiming to raise ₹12.00 crore1. Each lot consists of 1,200 shares (₹1,20,000 per lot)2. Listing is planned on 20 May 20253. This guide covers the key IPO details, the IPO allotment process, the difference between Retail vs HNI investment, and how to apply via UPI or ASBA.
Key IPO Details
- Company: Integrity Infrabuild Developers Ltd (Infrastructure & Construction)
- IPO Type: Fixed Price – SME Issue4
- Issue Size: ₹12.00 crore5
- Price: ₹100 per share6
- Lot Size: 1,200 shares7
- Min Retail Investment: ₹1,20,000 (1 lot)8
- Min HNI Investment: ₹2,40,000 (2 lots) – HNIs must apply for at least 2 lots
- Timeline: Opens 13 May, Closes 15 May, Allotment 16 May, Listing 20 May910
- Listing Exchange: NSE – SME
Retail vs HNI Investment in SME IPOs
IPO regulators often segregate subscriptions into Retail and HNI categories. Here is how they differ:
- Retail Investors (RII): Apply with funds up to ₹2,00,000 (1 lot). Reserved quota is ~47.2% of the issue11. Retail investors can bid at the cut-off price and may withdraw bids until the allotment date12.
- High Net-worth Individuals (HNIs): Apply with funds above ₹2,00,000 (min 2 lots). Reserved quota is also ~47.2%13. HNIs cannot bid at the cut-off price and cannot withdraw bids before allotment14. Because fewer HNI applicants compete, each HNI’s chance of allotment can be higher if the IPO is oversubscribed15.
IPO Allotment Process and Timeline
Once the IPO closes on 15 May, the registrar allocates shares to successful bidders. If the IPO is oversubscribed (more bids than shares), shares are typically allotted by a lottery system16 to ensure fairness. For Integrity Infrabuild, the basis of allotment will be finalized on 16 May 202517. Refunds of application money (for unsuccessful bids) are initiated by 19 May, and allotted shares are credited to investors’ Demat accounts around the same time18. The new shares are expected to list on the NSE SME on 20 May 202519. Investors should check the registrar’s or exchange’s official website for the final allotment status after the close date.
The IPO timeline in brief:
- 13 May 2025 – IPO opens for subscription
- 15 May 2025 – IPO closes for subscription
- 16 May 2025 – Basis of allotment announced
- 19 May 2025 – Refunds initiated / Shares credited to Demat
- 20 May 2025 – Listing on NSE SME
How to Apply in SME IPO via UPI & ASBA
To subscribe to the SME IPO, you need an active Demat account and a linked bank account. You can apply through your broker’s online portal or your bank’s netbanking portal. There are two methods to pay for the IPO:
- ASBA (Netbanking): In this process, you select the IPO ASBA option in your netbanking or brokerage interface and submit the application. The application money remains in your bank account but is blocked until allotment20. If you get allotted shares, the bank will debit the blocked amount; if not, the amount is unblocked.
- UPI (Mobile Payment): Select UPI as the payment mode when applying. Enter your UPI ID and submit. A mandate request will appear in your UPI app (BHIM, Google Pay, PhonePe, etc.) to block the required funds2122. Approve the mandate by entering your UPI PIN. This authorizes the funds but doesn't debit until allotment. UPI-based IPO applications are quick and usually charge-free.
FAQs for Investors
- What is an SME IPO?
- An SME IPO is an initial public offering by a small or medium-sized enterprise to raise capital. It works like a regular IPO but is specifically for smaller companies. Integrity Infrabuild’s IPO is an example of an SME IPO23.
- What does fixed-price IPO mean?
- In a fixed-price IPO, the company sets a specific issue price for its shares (₹100 here) beforehand. Investors pay this set price. This is different from a book-built IPO, where a price range is announced and final price is determined by bids. Integrity Infrabuild’s IPO is fixed-price24.
- Who falls under retail vs HNI categories?
- Retail investors are individuals applying with up to ₹2 lakh (max 1 lot). HNIs (High Net-worth Individuals) apply with more than ₹2 lakh (min 2 lots). You cannot apply in both categories simultaneously2526.
- How is IPO allotment done?
- If an IPO is oversubscribed, the regulator conducts a lottery among applicants in each category27. If undersubscribed, all valid applicants get full allocation. Only valid applications are considered.
- What are the key dates for this IPO?
- The issue opens on 13 May 2025 and closes on 15 May 2025. Allotment will be finalized on 16 May 202528. Shares will list on 20 May 202529.
- How do I check the IPO allotment?
- The IPO registrar publishes allotment status online (often via the stock exchange’s website). You can check by application number or PAN. Your broker or Demat account will also show whether shares were allotted. If you don’t get an allotment, the blocked funds will be released or refunded.
- How do I apply using UPI or ASBA?
- Use your bank’s netbanking or broker portal. For ASBA, choose the ASBA option and authorize via netbanking30. For UPI, choose UPI mode, enter your UPI ID, and approve the mandate on your UPI app3132.
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