Sanghvi Housing and Infrastructure IPO
Sanghvi Housing and Infrastructure Limited has filed a draft red herring prospectus (DRHP) with SEBI for a mainboard IPO, a fresh issue only. As of SEBI's report dated 30 October 2026, the draft is under SEBI review. The draft proposes a fresh issue only of up to 60,00,000 shares, with no offer for sale. In FY26 the company made a profit of ₹26.26 crore on revenue of ₹101.84 crore. The price band, lot size and IPO dates are not announced yet.
- Status
- Under SEBI reviewSEBI report, 30 Oct 2026
- SEBI received draft
- 5 Oct 2026
- Type of issue
- Fresh issue only
- Lead manager
- Aryaman Financial Services Limited
- Last SEBI contact
- 29 Oct 2026
- Price band and dates
- Not announced
Where it stands
Sanghvi Housing and Infrastructure IPO: where it stands
SEBI processing status, 30 Oct 2026- Draft filed with SEBI5 Oct 2026
- SEBI reviewUnder SEBI review
- SEBI observations
- RHP and price bandNot yet
- Bidding and listingNot yet
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process.
SEBI received the draft on 5 October 2026, 32 days ago, and its last communication on the draft was on 29 October 2026 (day count is our calculation).
DRHP at a glance
Sanghvi Housing and Infrastructure DRHP at a glance
Draft red herring prospectus, 29 Sep 2026What the company's draft offer document says. Figures can change in the red herring prospectus, and nothing here is a review or a recommendation.
The business
DRHP, Risk Factors (p. 22 to 26)Sanghvi Housing and Infrastructure is a real estate developer focused on redeveloping housing societies in the Mumbai Metropolitan Region and Thane district. Much of its work is done through subsidiaries and associates.
On 31 March 2026 it had 56 unsold units in completed projects and 434 in ongoing projects. It was incorporated in 2005 and is based in Mumbai.
The offer
DRHP cover page and The Issue (p. 59)| Fresh issue | Up to 60,00,000 shares₹ amount set with the price; money goes to the company |
| Shares before the IPO | 1,45,00,000The fresh issue equals about 41.4% of them (ours) |
| Listing | BSE and NSEMainboard, under Regulation 6(1) |
| Lead manager | Aryaman Financial Services Limited |
| Registrar | Bigshare Services Private Limited |
| Promoters | Prithviraj Sankalchand Sanghvi and Pakshal Prithviraj Sanghvi |
What the company plans to do with the money
DRHP, Objects of the Issue| Object | ₹ crore |
|---|---|
| Investing in subsidiaries Sanghvi Green LLP, SanghviP Builders LLP and Psanghvi & Jain Builders | |
| Buying future projects and general corporate purposes (set later) |
The amount for each object is in the DRHP, Objects of the Issue, and is not shown here. The fresh issue size in ₹ is set with the price.
Financials
DRHP, Summary of Financial Information (p. 61 to 64) and Basis for Issue Price, KPIs, ₹ crore| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 62.64 | 75.59 | 101.84 |
| EBITDA | 12.88 | 29.57 | 35.87 |
| EBITDA margin | 20.56% | 39.12% | 35.22% |
| Profit after tax | 7.60 | 20.81 | 26.26 |
| Diluted EPS (₹) | 5.08 | 13.69 | 14.60 |
| Net worth | 17.63 | 37.48 | 58.66 |
| Cash from operations | -3.16 | -24.43 | -37.26 |
| Return on equity | 27.71% | 44.18% | 36.70% |
| Debt to equity | 3.75 | 2.30 | 1.61 |
Restated consolidated figures. Net worth is equity share capital plus other equity (our sum). Revenue grew about 27.5% a year from FY24 to FY26 (our calculation).
Listed peers named in the draft
DRHP, Basis for Issue Price.The P/E for Sanghvi is not given until the price band is set.
| Company | Diluted EPS (₹) | P/E | RoNW |
|---|---|---|---|
| Sanghvi Housing and Infrastructure (FY26) | 14.60 | Set with the price band | 36.15% |
| Modi's Navnirman | 14.89 | 24.02x | 18.63% |
| Arihant Superstructures | 10.65 | 22.50x | 10.24% |
| Hubtown | 10.62 | 16.62x | 6.14% |
| Sri Lotus Developers | 5.04 | 44.63x | 12.68% |
| Arkade Developers | 0.29 | 441.38x | 0.60% |
Risks the draft lists first
DRHP, Risk Factors (p. 22 to 26)- Mumbai regionIts projects are concentrated in the Mumbai Metropolitan Region and Thane district. (Risk factor 1, p. 22)
- RedevelopmentIt focuses on society redevelopment and may not win new projects. (Risk factor 2, p. 23)
- Long projectsRedevelopment projects take years, and delays or cost overruns would hurt results. (Risk factor 3, p. 23)
- RERA deadlinesMissing RERA completion dates could seriously hurt the business. (Risk factor 4, p. 24)
- Unsold unitsIt had 56 unsold completed units and 434 unsold units in ongoing projects on 31 March 2026. (Risk factor 5, p. 25)
- SubsidiariesMost projects are run through subsidiaries and associates. (Risk factor 6, p. 26)
Documents
Sanghvi Housing and Infrastructure DRHP and documents
SEBI filingsThe DRHP has the issue size, use of the money, financials, promoters and risk factors. It can change before the final red herring prospectus.
Questions
Sanghvi Housing and Infrastructure IPO FAQs
When will the Sanghvi Housing and Infrastructure IPO open?
The date is not announced. The company first needs SEBI's observations on its draft, then files a red herring prospectus with the dates. SEBI received the draft 32 days ago (our calculation).
Has SEBI approved the Sanghvi Housing and Infrastructure IPO?
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process. Source: SEBI processing status as on 30 October 2026.
What is the Sanghvi Housing and Infrastructure IPO price band and lot size?
Not announced. The price band is published at least two working days before the IPO opens, and the lot size is set with it. We add both here the day they are filed.
What is the Sanghvi Housing and Infrastructure IPO GMP?
We do not publish a GMP. Grey market premium is unofficial: it is not regulated by SEBI and not published by any exchange. Before the price band is announced there is no issue price to compare it with.
Who is the lead manager of the Sanghvi Housing and Infrastructure IPO?
Aryaman Financial Services Limited is the coordinating book running lead manager named in SEBI's processing status report. The DRHP lists all the lead managers and the registrar.
What will Sanghvi Housing and Infrastructure do with the IPO money?
According to the DRHP, the fresh issue money goes to investing in subsidiaries Sanghvi Green LLP, SanghviP Builders LLP and Psanghvi & Jain Builders; buying future projects and general corporate purposes (set later).
What does Sanghvi Housing and Infrastructure do?
Sanghvi Housing and Infrastructure is a real estate developer focused on redeveloping housing societies in the Mumbai Metropolitan Region and Thane district. Much of its work is done through subsidiaries and associates.
Where can I read the Sanghvi Housing and Infrastructure DRHP?
On SEBI's website, where the draft red herring prospectus was published on 5 October 2026. The draft is dated 29 September 2026 and runs to 407 pages. It has the issue size, use of the money, financials and risk factors.
Sources: SEBI processing status of draft offer documents as on 30 October 2026, SEBI's yearly processing status archive and SEBI's list of draft offer documents, and the company's DRHP dated 29 September 2026. Day counts and the last date to open are our calculations. This page is information only, not a recommendation.