Skytech Infinite Platform IPO is a book-built public issue worth ₹22.68 crore, comprising a fresh issue of 29,45,600 equity shares entirely; there is no offer for sale (OFS) component in the issue. The IPO will open for subscription on August 14, 2026, and close on August 18, 2026. The company plans to list its shares on the NSE SME (Emerge) platform, with a tentative listing date of August 21, 2026, while the allotment is expected on August 19, 2026.
The price band has been fixed at ₹73 to ₹77 per share, and investors can apply in lots of 1,600 shares. Retail investors are required to bid for a minimum of 2 lots, i.e. 3,200 shares, requiring a minimum investment of ₹2,46,400 at the upper price band.
Finshore Management Services Ltd. is the book-running lead manager, while Integrated Registry Management Services Pvt. Ltd. has been appointed as the registrar. Prabhat Financial Services Ltd. is the market maker to the issue. Investors should refer to the Red Herring Prospectus (RHP) for complete details before applying.
Company Overview
Skytech Infinite Platform Limited, incorporated in 2009, is engaged in providing turnkey industrial automation solutions covering design, engineering, supply, installation and commissioning (I&C), and maintenance of a wide range of control panels, from conceptualisation to completion. The company operates from a 10,000 sq. ft. in-house facility in Bengaluru, Karnataka, and has an operating history of over 15 years.
The company manufactures automation control panels that integrate Programmable Logic Controllers (PLCs), drive systems, switchgear, sensors, and actuators. These panels function as centralised systems for managing and monitoring industrial machinery, supporting improved process efficiency, reliability, and productivity. Its product portfolio includes PCC panels, MCC panels, VFD panels, APFC panels, PLC panels, FLP panels, and control desk panels, built on a modular design platform that allows panels to be configured, expanded, or rearranged as per client site requirements.
Skytech Infinite Platform serves clients across power, water, energy, machine tools, infrastructure, motor management, food and beverages, HVAC, chemicals and pharmaceuticals, automotive, and process industries. The company is an ISO 9001:2015 certified organisation and an authorised partner of Mitsubishi Electric India Private Limited, Endress+Hauser (India) Private Limited, Exor India Pvt. Ltd., and Euroteck Environmental (P) Limited. It served 268 customers in fiscal 2026 and has supplied to select international markets, including Bhutan, Thailand, China, Singapore, and the USA. As of June 30, 2026, the company had a total manpower strength of 85 employees, including its directors.
Industry Context
- India’s industrial automation market was valued at USD 17.28 billion in 2025 and is projected to reach USD 33.64 billion by 2030, registering a CAGR of 14.26% over 2025–2030, supported by policy incentives, modernisation of legacy plants, and falling sensor costs.
- Industrial control systems accounted for 37.80% of the India industrial automation market share in 2024, anchored by PLC demand in automotive and DCS rollouts in chemicals, while software is forecast to expand at a 15.60% CAGR through 2030.
- By automation type, programmable systems led with a 42.10% revenue share in 2024, while integrated hyper-automation is advancing at a 17.01% CAGR to 2030. By end-user, automotive and transportation accounted for 23.50% of the market in 2024, with electronics and semiconductors projected to grow at a 17.40% CAGR between 2025 and 2030.
- Government initiatives such as Make in India and the Production Linked Incentive (PLI) scheme continue to support automation adoption. The PLI programme disbursed ₹1,40,200 million to discrete industries by 2025, linked to demonstrable Industry 4.0 compliance, which has increased demand for PLC-controlled production lines and real-time monitoring across the supplier chain.
- The global electrical control panel market was valued at USD 6.32 billion in 2025 and is estimated to reach USD 10.97 billion by 2034 at a CAGR of approximately 6.27%. Within India, medium and small enterprises account for roughly 30% of manufacturing output but have historically lagged in automation, and brownfield digital retrofits in this segment represent a continuing opportunity for control panel and system integration players.
Business Strengths
- The company offers a diversified automation solution portfolio spanning PCC, MCC, VFD, APFC, PLC, and control desk panels along with integrated turnkey automation services, enabling it to serve manufacturing, utilities, infrastructure, and process industries with both standardised and customised solutions.
- Skytech Infinite Platform follows an end-to-end turnkey model covering design, engineering, supply, installation, commissioning, and maintenance, executed under defined quality control measures and supported by its ISO 9001:2015 certification for systems and processes.
- The company is led by promoters associated with the business since inception, supported by a professional management team and a technically skilled workforce of qualified engineers, which supports project execution and client servicing across segments.
- With an operating history of over 15 years, the company has built a track record of repeat business and long-standing client relationships. Revenue from existing customers accounted for 83.91% of turnover in Fiscal 2026 and 83.98% in Fiscal 2025.
- The company holds authorisations as a system integrator, distributor, and solution provider for established automation and instrumentation product lines, including partnerships with Mitsubishi Electric India, Endress+Hauser (India), Exor India, and Euroteck Environmental.
- Its assembling and testing facility is centrally located in Bengaluru, which supports Factory Acceptance Tests (FAT) that often require clients, consultants, or end users to visit the facility for extended periods, offering logistical convenience during the delivery process.
Business Risks
- A significant share of Skytech Infinite Platform Ltd.’s revenue comes from Karnataka, with sales in the state accounting for 75.39%, 63.13%, and 58.34% of revenue in fiscal years 2026, 2025, and 2024, respectively, making the company vulnerable to regional disruptions, competition, and economic changes in that market.
- The company depends on a single manufacturing unit located in Bengaluru. Any local disruption, natural disaster, equipment breakdown, labour dispute, or extended shutdown at this facility could have a material adverse effect on operations and financial performance.
- Raw material procurement is geographically concentrated, with purchases from Karnataka, Maharashtra, and Haryana together accounting for approximately 84.56%, 91.71%, and 90.25% of total purchases in fiscal years 2026, 2025, and 2024, respectively, exposing the company to regional supply chain disruptions and pricing pressure.
- The business is substantially dependent on existing customers and a limited number of key customers. Any loss of major clients, delay in order flows, or shift in customer requirements could affect revenues and profitability.
- Operations are working-capital intensive, and the company has reported negative cash flows in recent fiscals. The company has also stated that no alternate arrangements have been made for meeting regular working capital requirements, and any inability to secure sufficient funding could affect operations.
- The company is dependent on authorisations from third-party OEMs, operates in a moderately fragmented and highly competitive industry with large global players, has certain historical discrepancies in corporate records and delayed regulatory filings, and does not have listed peer companies for performance comparison.
Financial Performance
Skytech Infinite Platform Limited – Financials (₹ in Lakhs)
| Particulars | Fiscal 2026 | Fiscal 2025 | Fiscal 2024 |
|---|---|---|---|
| Revenue from Operations | 5,164.50 | 4,514.01 | 4,412.85 |
| Total Income | 5,214.10 | 4,520.81 | 4,414.85 |
| Borrowings | 925.45 | 539.06 | 389.68 |
| EBITDA | 664.66 | 612.68 | 308.72 |
| Profit After Tax (PAT) | 420.47 | 371.41 | 135.09 |
| Return on Capital Employed (%) | 25.45% | 33.10% | 17.48% |
| Basic Earnings Per Equity Share (EPS)* | 6.12 | 5.40 | 1.96 |
Note: Fiscal 2024 EPS shown after giving retrospective effect to the bonus issue.
(Source: RHP)
Key Ratios & Metrics
| KPI | As of March 31, 2026 |
|---|---|
| Return on Capital Employed (ROCE) | 25.45% |
| Return on Net Worth (RoNW) | 22.11% |
| PAT Margin | 8.14% |
| EBITDA Margin | 12.87% |
| Debt-to-Equity Ratio | 0.49 |
| Net Asset Value (NAV per share) | ₹27.66 |
| Price to Book Value | 2.78 |
IPO Details
| Particulars | Details |
|---|---|
| IPO Date | 14 – 18 August, 2026 |
| Allotment | Wednesday, August 19, 2026 |
| Listing Date | Friday, August 21, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 per share |
| Lot Size | 1,600 Shares |
| Issue Type | Book Building IPO |
| Sale Type | Fresh capital only |
| Total Issue Size | 29,45,600 shares (agg. up to ₹22.68 crore) |
| Fresh Issue (Ex Market Maker) | 27,96,800 shares (agg. up to ₹21.53 crore) |
| Market Maker Reservation | 1,48,800 shares (agg. up to ₹1.15 crore) |
| Net Offered to Public | 27,96,800 shares |
| Shareholding Pre-Issue | 68,75,000 shares |
| Shareholding Post-Issue | 98,20,600 shares |
| Listing Exchange | NSE SME (Emerge) |
Objects of the Offer
The company proposes to utilise the net proceeds from the fresh issue towards the following objects:
- The issue is entirely a fresh issue of equity shares with no offer for sale component. Accordingly, the entire proceeds, net of issue-related expenses, will be received by the Company.
- A portion of the net proceeds will be utilised towards funding the working capital requirements of the Company, estimated at up to ₹1,681.30 lakh, to be deployed across Fiscal 2027 and Fiscal 2028.
- A part of the proceeds will be applied towards meeting issue-related expenses in connection with the offer.
- The remaining proceeds will be allocated towards general corporate purposes, which as per SEBI ICDR Regulations shall not exceed 15% of the gross proceeds or ₹10 crore, whichever is lower.
Conclusion
Skytech Infinite Platform IPO offers investors an opportunity to participate in a Bengaluru-based turnkey industrial automation and control panel business, operating in a segment supported by manufacturing modernisation, Industry 4.0 adoption, and government-linked incentive programmes. The company’s diversified panel portfolio, OEM authorisations, repeat customer base, and improvement in profitability over the last three fiscals form its key business drivers.
However, investors should also consider risks related to geographic revenue concentration in Karnataka, dependence on a single manufacturing unit, customer and supplier concentration, working capital intensity, and the absence of listed peers for valuation comparison. As an SME platform issue, the offer also carries a higher minimum application size and lower post-listing liquidity compared to mainboard IPOs. Reviewing the Red Herring Prospectus, financial performance, valuation, and business outlook is essential to understand whether the IPO aligns with individual investment goals and risk appetite.
Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. This content is purely for informational purposes only and should not be considered as investment advice or a recommendation. Securities quoted are for illustration purposes only and not recommendatory. Investors are requested to do their own due diligence before investing.
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