Chiraharit was incorporated on August 04, 2006. The company specialises in turnkey EPC projects in the Water and Renewable Energy sectors, delivering tailored, sustainable solutions. In the Water segment, it focuses on efficient pressurised water systems for agriculture, industrial and residential water supply, irrigation networks, solar module cleaning, and landscape irrigation
| Bidding Dates |
|---|
| 29 Sep 2025 - 03 Oct 2025 |
| Subscription |
|---|
| 1.84x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,52,000 | 2 | 2 | 6000 | 14.8 M | ₹21 | 73 % | ₹310.7 M | RHP DOC |
Chiraharit IPO SUBSCRIPTION STATUS
03 Oct '25Chiraharit IPO overall subscription rate was 1.84 times the total available shares
Chiraharit IPO retail subscription rate was 2.88 times in the retail segment
Chiraharit IPO non-institutional investor subscription rate was 0.8 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
03 Oct 2025 (Day 4) | 2.88x | 0.8x | - |
01 Oct 2025 (Day 3) | 1.24x | 0.33x | - |
30 Sep 2025 (Day 2) | 0.32x | 0.16x | - |
29 Sep 2025 (Day 1) | 0.07x | 0.12x | - |
Chiraharit FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 59.6 | 6.0 | 2.9 | 2.5 | 16.4% |
| FY24 | 30.6 | 0.6 | 1.8 | 1.6 | 7.7% |
| FY23 | 32.9 | 0.4 | 1.0 | -5.0 | 5.1% |
Chiraharit IPO SUBSCRIPTION STATUS DETAILS
Chiraharit had 14.8 M shares on offer
Chiraharit IPO offer price was ₹21
Chiraharit IPO minimum Investment was ₹252000
Chiraharit IPO issue size was ₹ 310.7 M
Chiraharit had a minimum lot size of 6000 Shares per application
Chiraharit NUMBER OF SHARES ON OFFER
Chiraharit IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2025 |
| Issue close Date | 03 Oct 2025 |
| Allotment Date | 06 Oct 2025 |
| Refund Date | 07 Oct 2025 |
| Demat Account Credit Date | 07 Oct 2025 |
| Listing Date | 08 Oct 2025 |
| Listing on Exchange(s) | BSE |
| Chiraharit Allotment Status | Exchange/ Registrar |
Chiraharit IPO subscription opened on 29 Sep 2025, and closed on 03 Oct 2025
IPO allotment for Chiraharit was finalized on Monday, 06 Oct 2025
IPO listing for Chiraharit was on BSE on Wednesday, 08 Oct 2025
Chiraharit IPO LISTING GAINS
| Issue Price (adjusted) | 21.0 |
| Listing Open Price | 16.8 |
| Listing Close Price | 16.0 |
| Listing Gain% | -20.0% |
| Current Gain% | -63.9% |
Chiraharit Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chiraharit Ltd. | 7.6 | 41.5 | 1938.6 | -19.5 | 0.8 | 0.1 | 0 | 55.2 | -7.8 | 0 | -99.6 | 0 | -99.6 |
| Sagility Ltd. | 43.7 | 20443.4 | 20.6 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 355.8 | 15376.2 | 25.2 | 1 | 11.3 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 29.4 | 6855.8 | 16.4 | 0 | 6.2 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 435 | 6146.2 | 41.9 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 538.8 | 4462.3 | 38.8 | 1.5 | 6 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
Chiraharit INFORMATION ON IPO ISSUE
About Chiraharit
Chiraharit was incorporated on August 04, 2006. The company specialises in turnkey EPC projects in the Water and Renewable Energy sectors, delivering tailored, sustainable solutions. In the Water segment, it focuses on efficient pressurised water systems for agriculture, industrial and residential water supply, irrigation networks, solar module cleaning, and landscape irrigation
Object of the Issue
- Funding capital expenditure for setting up of HDPE ball valves and fittings manufacturing unit
- Repayment and/or pre-payment, in full or part, of certain borrowings
- To meet working capital requirements
- To meet the issue expenses
- General corporate purposes
Chiraharit - PROMOTERS
| Name |
|---|
| Pavan Kumar Bang |
| Venkata Ramana Reddy Gaggenapalli |
| Tejaswini Yarlagadda |
Chiraharit - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Pavan Kumar Bang | Manging Director & CEO |
| Venkata Ramana Reddy Gaggenapalli | Executive Director |
| Tejaswini Yarlagadda | Non-Executive Director |
| Venkata Chakrapani Chaturvedula | Independent Director |
| Anantha Krishna Nageshwara | Independent Director |
Chiraharit Book Running Lead Manager
Finshore Management Services Limited
info@finshoregroup.com
Chiraharit Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Chiraharit Strengths
Diversified service portfolio
The company’s strength is its diversified portfolio in water management and renewable energy, offering solutions like solar module cleaning, EPC for piped water projects, agricultural irrigation systems, bio-gas plants, and civil construction for residential and commercial water infrastructure. This broad expertise enables the delivery of sustainable, resource-efficient solutions across multiple sectors
Robust order book
The company’s strong order book reflects its financial stability and operational efficiency, with orders worth over Rs 100 crore executed from FY22 to FY25 and Rs 51.38 crore pending as of August 31, 2025. This demonstrates consistent market demand, client trust, and enables strategic resource planning for smooth operations
Project execution capabilities
The company’s strong project execution capabilities, backed by experienced promoters, senior management, and a dedicated team, ensure operational excellence and high customer satisfaction. Its systematic approach and technical expertise enable precise, efficient delivery of complex projects across all service segments
Chiraharit Risks
Project implementation risks
The company has not yet placed orders for civil works or plant and machinery for its proposed manufacturing unit. Any delays in procurement or construction could postpone implementation and increase costs, as current estimates are based on third-party quotations valid for a limited period
Labour intensive
The company’s labour-intensive operations, especially in remote Solar Module Cleaning System projects, may face risks from strikes, work stoppages, or wage demands. While major disruptions have not occurred, the company is prepared to manage such situations to minimize operational and financial impact
Insurance coverage risk
The company maintains insurance to protect key assets and operations, but coverage may be insufficient against certain losses. Despite regular reviews, some risks like natural disasters or extraordinary events—may exceed policy limits, leaving potential financial exposure
IPO FAQs
The promoters of the company are Pavan Kumar Bang, Venkata Ramana Reddy Gaggenapalli and Tejaswini Yarlagadda.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 21.0 - 21.0.
The IPO application opens on Sep 29, 2025 and closes on Oct 03, 2025.
The minimum lot size for the IPO is 12000. The maximum lot size for the IPO is 12000.
For all category investors, the minimum application amount for this IPO is Rs. 252,000.0, the maximum value for this IPO is Rs 252,000.0.
This IPO will be allotted on Oct 06, 2025.
The refund will be credited to your account on Oct 07, 2025.
The allotted shares will be credited to your demat on Oct 07, 2025.
Chiraharit Ltd.’s shares listed on the stock exchanges on Oct 08, 2025.