IPO Details

Bidding Dates

08 Apr '24 - 10 Apr '24

Minimum Investment

₹ 1,33,200 / 1 Lot ( 1600 Shares )

Price Range


Maximum Investment

₹ 1,33,200 / 1 Lot ( 1600 Shares )

Retail Discount

To be announced

Issue Size

₹44.40 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 8, 2024

Closing Date

Apr 10, 2024

Basis of Allotment

Apr 12, 2024

Initiation of Refunds

Apr 15, 2024

Credit of Shares to Demat

Apr 15, 2024

Listing Date

Apr 16, 2024

Cut-off time for UPI mandate confirmation

Apr 10, 2024

IPO Subscription Details


Day 1Apr 8, 2024

2.23x 2.16x 2.19x

Day 2Apr 9, 2024

4.73x 5.49x 5.11x

Day 3Apr 10, 2024

96.97x 41.76x 74.17x

IPO Subscription Status Live

Investor Category Subscription (Times)
Non-Institutional Buyers 96.97
Retail Investors 41.76
Total 74.17

About Teerth Gopicon Ltd

Teerth Gopicon Limited, established in 2019, specializes in infrastructure projects including road construction and the development of sewerage and water supply systems in Madhya Pradesh. The firm has also engaged in residential construction, notably completing a tower in Indore as a subcontractor.

The organization is a certified contractor for several central and state government bodies such as ISCDL, IMC, USCL, UMC, and MPJNM, and has executed a variety of projects in the private sector as well.

Its portfolio encompasses a diverse array of civil engineering projects, including the construction of buildings, water supply systems, pipelines, sewage networks, sewage treatment plants, Nalla taps, reuse networks, overhead tanks, GSR, road construction, and lake rehabilitation.

As of February 29, 2024, Teerth Gopicon Limited employed 164 permanent staff across different departments, including workmen.

Industry Outlook

  1. The National Infrastructure Pipeline (NIP) now includes 9,142 projects, with 2,476 in the development phase requiring an investment of US$ 1.9 trillion. Significant efforts are focused on the transportation sector, especially roads and bridges.
  2. The Indian government has raised the infrastructure capital investment for 2023-24 to ₹10 lakh crore (US$ 122 billion), a 33% increase, with a record ₹2.40 lakh crore (US$ 29 billion) dedicated to the Railways, indicating a strong commitment to enhancing national infrastructure.

Teerth Gopicon Ltd IPO Details

Teerth Gopicon Ltd IPO Dates

Teerth Gopicon IPO is open from April 8, 2024, to April 10, 2024. The IPO will be listed on NSE Emerge.

Teerth Gopicon Ltd IPO Price Band

Teerth Gopicon is a fixed price issue. The price band is set at ₹111 per share.

Teerth Gopicon Ltd IPO Lot Size

The lot size for Teerth Gopicon Limited’s IPO is 2,000 shares with a minimum investment of ₹1,33,200.

Teerth Gopicon Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding of working capital requirements of the Company
  2. General Corporate Expenses

Peer Details

The following are the listed peers of Teerth Gopicon:

  1. Man Infraconstruction Limited
  2. ITD Cementation India Limited
  3. Likhitha Infrastructure Limited
  4. Udayshivakumar Infra Limited

How To Check the Allotment Status of the Teerth Gopicon Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Teerth Gopicon Ltd

Registered office: 703, Sapath Complex-I, Opp. Rajpath Club, Near Madhur Hotel, Bodakdev, Ahmedabad-380054, Gujarat, India

Phone: +91 9979840806

E-mail: investor@teerthgopicon.com

IPO Financials

Particulars For the period Ended on September 30, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income (in ₹ lakh) 3,741.78 3,914.87 3,120.77 4,620.74
Profit After Tax (PAT) (in ₹ lakh) 339.52 179.22 15.27 46.45
Cash & Cash Equivalents (in ₹ lakh) 215.68 532.87 216.53 261.38
Net Worth (in ₹ lakh) 1,128.23 788.70 609.49 594.22
Debt to Equity Ratio(x) 0.48 0.43 2.24 1.57
Return on Equity (%) 30.09% 22.72% 2.50% 7.82%
Return on Net Worth (RoNW) (%) 30.09% 22.72% 2.50% 7.82%
Earning Per Share (EPS)-in absolute ₹ 6.79 3.58 0.31 1.50

Know before investing


  1. Teerth Gopicon Limited excels in efficiently managing and completing a wide range of infrastructure projects on time and within budget. Led by Maheshbhai Khumbhani, the team's extensive industry experience positions the company for future growth and market expansion.

  2. The company has a strong presence in Madhya Pradesh, completing several critical projects under the Smart Cities Mission and Jal Jeevan Mission. This includes four major projects in Indore and three significant water supply schemes, showcasing its capability and trustworthiness in crucial development sectors.

  3. Teerth Gopicon Limited has invested ₹248.03 lacs in essential plant and machinery up to September 2023, enhancing its self-reliance and reducing external dependencies. This investment facilitates timely project delivery and minimises contractual risks, underlining the company's commitment to leveraging technology for operational efficiency.


  1. Teerth Gopicon Limited's operations are exclusively in Madhya Pradesh, relying entirely on state government, local authority projects, and associated entities for revenue. This concentration could lead to significant business impact due to regional economic, political, or regulatory changes.

  2. The company's registered office in Ahmedabad and corporate office in Indore are leased from related parties with agreements due to expire in November 2026 and November 2026 respectively. Non-renewal could disrupt operations and impact profitability and brand image.

  3. A large portion of revenue is derived from a limited number of clients, with 100% of FY2023 revenue from just five clients. Loss or reduction in business from any key client could significantly affect financial stability and future revenue streams.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Teerth Gopicon Ltd IPO FAQs

What is Teerth Gopicon Ltd's IPO?

Teerth Gopicon IPO is a book-built IPO. The IPO will be open from April 8, 2024 to April 10, 2024.

When will Teerth Gopicon Ltd's IPO be allotted?

The Basis of Allotment will happen on Monday, April 15, 2024.

When will Teerth Gopicon Ltd's IPO open for subscription?

The IPO subscription window will open on April 8, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.

When will Teerth Gopicon Ltd list on exchanges?

The listing date for Teerth Gopicon is Friday, April 16, 2024.

What would be the listing gains on the Teerth Gopicon Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Teerth Gopicon Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Teerth Gopicon Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Teerth Gopicon Ltd using one PAN?

You can submit only one application using your PAN card.