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Chiraharit IPO
Chiraharit Ltd
₹1,26,000 /6000 sharesMinimum Investment
Chiraharit IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 29 Sep ‘25 - 3 Oct ‘25 | ₹2,52,000 | 6,000 | ₹21 - ₹21 |
| Issue Size | IPO Doc |
|---|---|
| 31.07Cr | RHP PDF |
Subscription rate
As of 30 Sep'25, 03:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.12x |
| Retail Individual Investor | 0.27x |
| Total | 0.19x |
About Chiraharit
Founded in
2006
Managing director
Mr. Pavan Kumar Bang
Parent organisation
Chiraharit Ltd
Strengths & Financials of Chiraharit
Strengths
Risks
The company claims to have a broad portfolio covering water-based and renewable energy projects. This includes EPC solutions for piped water projects, various irrigation systems tailored for agricultural efficiency, the installation and setup of biogas plants, and civil construction projects.
The company claims to hold a significant order book of over Rs 51.38 crore as of August 31, 2025. This provides visibility of near-term revenue and operational continuity.
The company claims to possess strong project execution expertise, supported by experienced management and technical teams. They claim to be able to handle complex projects across diverse service segments with precision and efficiency.
The company claims to maintain long-standing relationships with suppliers, subcontractors, and technology providers. These partnerships provide access to technology and project delivery efficiency.
The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 0.42 crore in FY23 to Rs 0.60 crore in FY24 and Rs 6.02 crore in FY25.
The company’s business relies on securing EPC projects awarded through competitive bidding and pre-qualification criteria. Any adverse bidding outcome or failure to meet technical or financial requirements may restrict the company’s ability to secure new projects, thereby impacting revenue and financial performance.
For FY25, FY24, and FY23, the company derived 100 percent of its revenue from the Indian domestic market. Any adverse economic, political, or regulatory developments in India could negatively impact the company’s revenue and operational continuity.
The company derives a major portion of its revenue from its top 10 customers. They accounted for Rs 42.90 crore (71.95 percent) of the company’s total revenue in FY25, Rs 23.18 crore (75.84 percent) in FY24, and Rs 25.28 crore (76.87 percent) in FY23. Loss of these customers or a decline in business from them could adversely affect the company’s finances and operations.
The company’s top 10 suppliers accounted for Rs 16.51 crore (37.23 percent) of the company’s total cost of material consumed in FY25, Rs 10.46 crore (59.79 percent) in FY24, and Rs 10.17 crore (69.46 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company derives a major portion of its revenue from solar module cleaning systems. It accounted for Rs 30.32 crore (50.85 percent) of the company’s total revenue in FY25, Rs 16.04 crore (52.49 percent) in FY24, and Rs 12.65 crore (38.48 percent) in FY23. Any adverse changes in demand, pricing, or competition in this segment could hurt the company’s financial performance.
As of FY25, the company had trade receivables of Rs 18.31 crore, an increase from Rs 10.44 crore in FY24. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The company reported negative cash flows from investing activities, which amounted to Rs 1.60 crore in FY25, Rs 0.15 crore in FY24, and Rs 1.34 crore in FY23. It also reported a negative cash flow from financing activities of Rs 0.95 crore in FY25, Rs 1.36 crore in FY24, and Rs 0.47 crore in FY23. If these negative cash flows persist, it could adversely affect the company’s ability to meet its working capital needs or repay loans without raising additional external financing, thereby impacting its financial condition and operations.
The company, its directors, promoters, subsidiaries, and group entities are involved in various legal proceedings. Any adverse judgment in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company reported total indebtedness of Rs 20.48 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Chiraharit Financials
*All values are in Rs. Cr
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Application Details of Chiraharit IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹21 - 21 | ₹2 - 5 Lakh |
For Chiraharit IPO, eligible investors can apply as Individual investor.