Gujarat-based construction company Krishna Buildspace has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at funding capital expenditure and working capital needs.
The proposed IPO comprises a fresh issue of 90 lakh equity shares and an offer for sale (OFS) of 9 lakh shares by promoters Mohanbhai Chanabhai Sorathiya and Jayantibhai Chanabhai Sorathiya.
About the company
Incorporated in 1995, Krishna Buildspace is engaged in contracting and building services. Over the past decade, the company has executed 82 projects, covering 2.30 million square feet of constructed area, with an aggregate project value of ₹639.2 crore.
As of December 2025, the company has 19 ongoing projects spread across eight states and two Union Territories, with an unexecuted order book of ₹524.1 crore.
Use of IPO proceeds
According to the draft papers, Krishna Buildspace plans to utilise:
- ₹80 crore from the fresh issue proceeds for working capital requirements,
- ₹5.2 crore for capital expenditure, including the purchase of equipment and machinery, and
- The remaining funds for general corporate purposes.
Financial performance
For the financial year ended March 2025, the company reported a net profit of ₹15.1 crore, up 33.6% from ₹11.3 crore in the previous year. Revenue rose 6.5% year-on-year to ₹183.3 crore, compared with ₹172 crore in FY24.
For the six months ended September 2025, Krishna Buildspace posted a profit of ₹8.8 crore on revenue of ₹96 crore.
IPO details
The issue is being managed by Mefcom Capital Markets, which is acting as the merchant banker for the IPO.
