Chiraharit Limited Launches INR 31.07 Crore IPO on BSE SME Platform

The company is promoted by the Malaxmi Group, which operates on the core principle of integrating Mind, Body, and Soul in its services-balancing client satisfaction, team welfare, and environmental responsibility.

Promoters & Leadership

The IPO is backed by promoters Pavan Kumar Bang, Tejaswini Yarlagadda, and Venkata Ramana Reddy Gaggenapalli, under whose leadership Chiraharit has expanded from an EPC contractor into a multi-segment solutions provider across water management, renewable energy, and civil infrastructure.

Business Operations

• Water-Based Applications: Irrigation networks, drinking water systems, pressurized irrigation, dust suppression, and landscape irrigation.

• Renewable Energy Solutions: Development of Compressed Bio-Gas (CBG) plants aligned with India’s clean energy transition.

• Civil Infrastructure: Industrial and residential construction projects.

Financial Highlights (FY25 vs FY24)

• Revenue: ₹5,962.80 lakh (vs ₹3,056.55 lakh)

• Profit After Tax: ₹602.29 lakh (vs ₹60.34 lakh)

• EBITDA Margin: 16.36% (vs 7.71%)

• Return on Net Worth: 62.91%

• Net Worth: ₹957.39 lakh (vs ₹331.45 lakh)

IPO Proceeds

Funds from the IPO will be used for:

• Setting up an HDPE ball valves and fittings manufacturing unit

• Repayment/prepayment of borrowings

• Working capital requirements

• General corporate purposes and expansion plans

IPO Details

• Issue Size: ₹31.07 crore

• Share Price: ₹21 per share (Face Value ₹1)

• Lot Size: 6,000 shares (₹1.26 lakh per lot)

• Total Lots: 2,466

• Lead Manager: Finshore Management Services Ltd.

• Registrar: Bigshare Services Pvt. Ltd.

• Market Maker: Anant Securities

Industry Context & Outlook

With India prioritizing water security (PMKSY), renewable energy adoption, and urban infrastructure development, Chiraharit is well-positioned to leverage opportunities in these sectors. Analysts highlight the company’s strong financials and scalable business model as positives for investors.

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