Sabari Constructions Technologies Limited has filed a draft red herring prospectus (DRHP) for a proposed IPO on NSE Emerge, with the filing reported on September 30, 2026. This is a preliminary filing—not confirmation that the IPO has been approved, will open, or will result in a listing. The draft describes an EPC and infrastructure contractor and reports recent revenue and profit growth, but the offer price, issue calendar and final terms were not available in the contemporaneous report.
What the DRHP filing means
A DRHP is an early-stage offer document that sets out the issuer’s business, financial information, proposed offer and risks for review. Sabari’s reported filing is for a proposed NSE Emerge IPO. IPOPlatform reported the filing date as September 30, 2026, and identified GYR Capital Advisors Private Limited as merchant banker and Purva Sharegistry India Private Limited as registrar. These are details reported from the draft, not evidence of approval or a completed offer.
The available report said the price band would be disclosed after DRHP approval. It did not establish an issue size, price band, opening date, subscription figures or listing outcome. Those terms should not be assumed from the filing announcement.
What Sabari Constructions does
The company describes itself as an integrated engineering, procurement and construction (EPC) and infrastructure turnkey contractor, providing design-and-build services. Its reported project sectors include healthcare, hospitality, residential, education, railways, industrial and commercial construction. It also operates concrete-block and ready-mix concrete facilities, reported to be in Coimbatore and Chennai.
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IPOPlatform’s summary says the company began as a partnership in 1998, became a private limited company in 2011 and adopted its current name in August 2026. It also describes government EPC work secured through tenders and projects for government departments, metro rail corporations, public-sector undertakings and private organisations. These are company and filing descriptions, not an independent assessment of its market position. The same summary says the company expanded from one state in FY2012 to ten states by FY2026.
Reported projects and order book
IPOPlatform reported an order book of 19 projects as of March 31, 2026. Examples in its account include redevelopment of Rameswaram Railway Station through Sabari URC JV, JIPMER Karaikal Hospital in Puducherry, and Regional Institute of Education/NCERT building and campus works in Andhra Pradesh. The report also mentions a metro-station construction project.
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The railway-station redevelopment was reported as 96.66% complete as of the DRHP date. The report does not, by itself, establish how the company defines order book or how much of the reported work remained unexecuted on a particular date. An order book is a pipeline snapshot; it should not be treated as guaranteed future revenue, cash collection or profit.
Financial figures reported for FY2024–FY2026
IPOPlatform’s October 1, 2026 summary of prospectus financial highlights reports the following figures in ₹ crore. They are secondary-source transcriptions of prospectus data; readers should consult the DRHP’s restated financial statements and notes for accounting basis, period labels and any restatements.
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| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from operations | ₹181.91 crore | ₹297.59 crore | ₹471.42 crore |
| EBITDA | ₹27.83 crore | ₹46.69 crore | ₹97.28 crore |
| Profit after tax (PAT) | ₹11.19 crore | ₹24.66 crore | ₹56.62 crore |
| Assets | ₹207.56 crore | ₹264.65 crore | ₹388.31 crore |
| Net worth | ₹40.26 crore | ₹64.93 crore | ₹121.56 crore |
A company press-release reproduction carried FY2026 revenue of ₹47,142.25 lakh, EBITDA of ₹9,728.64 lakh and PAT of ₹5,662.67 lakh, broadly corresponding to the rounded crore figures in the table. These are company-reported figures reproduced by Sangri Times Spotlight, not independent verification. IPOPlatform also displayed a conspicuous FY2025 total-debt figure of ₹10,690 crore, inconsistent with the adjacent-year scale; it is not repeated here because it requires confirmation against the DRHP.
Proposed use of IPO proceeds
IPOPlatform’s filing summary says ₹30 crore of proceeds is proposed for working capital, with general corporate purposes also listed for the balance category. The available report does not establish a final allocation or complete final offer terms. A proposed use of funds is not proof that the amount will be raised or spent as described; investors should check the final offer document for any approved and updated allocation.
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Risks and unresolved offer terms
The DRHP extract says the company filed earlier draft red herring prospectuses for NSE Emerge on February 7, 2011 and June 5, 2017, and withdrew those proposals in view of unfavourable market conditions. The company also says there is no assurance that the current offer will proceed. That history is relevant context, not a prediction of what will happen to this filing.
The extract also identifies adverse macroeconomic conditions as a risk to the business, results and financial condition. More broadly, a draft filing does not demonstrate regulatory approval, successful fundraising, a listing, or any particular post-listing share price. The company’s reported project pipeline and historical financial figures do not guarantee future performance.
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- Price band and issue calendar: not established by the contemporaneous report.
- Final issue size, allotment and listing: not established by the DRHP filing announcement.
- Current filing and approval status: time-sensitive; check the latest company and exchange disclosures before making a decision.
Where to check the documents
For issuer disclosures and risk language, use the SEBI public-issues filings and locate Sabari Constructions Technologies Limited’s DRHP. IPOPlatform’s October 1, 2026 filing summary reports the filing date, intermediaries, business description, proposed proceeds and financial highlights. Sangri Times Spotlight’s October 3, 2026 company-release reproduction provides company profile and FY2026 figures. For investment decisions, give priority to the offer documents and verify each material term against the latest filing rather than relying on a secondary summary.
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