SRM Contractors IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for SRM Contractors IPO was finalized on Monday, April 1, 2024. The shares got listed on BSE, NSE on April 3, 2024.
IPO Size: 6,200,000 shares (130.20 Cr) Fresh Issue: 6,200,000 shares (130.20 Cr) Subscription Dates: March 26, 2024 to March 28, 2024 Expected Allotment: Monday, April 1, 2024 Listing Date (Tentative): April 3, 2024 Price Band: ₹200 to ₹210 per share Retail Investors: ₹.14,700 (70 shares) Small HNI : ₹.205,800(14 lots, 980 shares) Big HNI : ₹.1,014,300(69 lots, 4830 shares)
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 3, 2024 |
| Face Value | ₹10 per share per share |
| Price Band | ₹200 to ₹210 per share |
| Lot Size | 70 Shares |
| Total Issue Size | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Fresh Issue | 6,200,000 (aggregating up to ₹130.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 16,744,200 |
| Share holding post issue | 22,944,200 |
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,860,000 (30%) |
| QIB Shares Offered | 1,240,000 (20%) |
| NII (HNI) Shares Offered | 930,000 (15%) |
| bNII > Rs.10L | 620,000 (10%) |
| sNII < Rs.10L | 310,000 (5%) |
| Retail Shares Offered | 2,170,000 (35%) |
| Total Shares Offered | 6,200,000 (100%) |
The SRM Contractors Limited IPO achieved a subscription rate of times The retail category subscribed times, the QIB category subscribed times, and the NII category subscribed times. Review the subscription details on a day-to-day basis (live status).
| Investor Category | Shares Offered | Shares Bid for | Total Amount (Rs Cr.)* | Subscription (times) |
|---|---|---|---|---|
| Qualified Institutions | 1,240,000 | |||
| Non-Institutional Buyers | 930,000 | |||
| bNII (bids above ₹10L) | 620,000 | |||
| sNII (bids below ₹10L) | 310,000 | |||
| Retail Investors | 2,170,000 | |||
| Others | ||||
| Total** | 4,340,000 | 0 | 0.00 | 0.00 |
SRM Contractors Limited IPO raises ₹ 39.06 crore from anchor investors. SRM Contractors Limited IPO Anchor bid date is March 22, 2024. SRM Contractors Limited IPO Anchor Investors list
| Bid Date | March 22, 2024 |
| Shares Offered | 1859900 |
| Anchor Portion Size (In Cr.) | 39.06 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 30, 2024 |
SRM Contractors Limited IPO opens on March 26, 2024 and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment* | Monday, April 1, 2024 |
| Initiation of Refunds* | Tuesday, April 2, 2024 |
| Credit of Shares to Demat* | Tuesday, April 2, 2024 |
| Listing Date* | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 05:00 pm, March 28, 2024 |
Investors can bid for a minimum of 70 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹ 14,700 |
| Retail (Max) | 13 | 910 | ₹ 191,100 |
| S-HNI (Min) | 14 | 980 | ₹ 205,800 |
| S-HNI (Max) | 68 | 4760 | ₹ 999,600 |
| B-HNI (Min) | 69 | 4830 | ₹ 1,014,300 |
The promoters of the company are Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh
| Share Holding Pre Issue | 99.92% |
| Share Holding Post Issue | 72.92% |
Established in 2008, SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh.
The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects.
The company has these major business verticals:
As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.
As on January 31, 2024, the company employed 275 full-time employees, consisting of specialists and workers.
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
SRM Contractors Limited
Sector 3,
Near BJP Head Office,
Trikuta Nagar, Jammu -180012
Phone: +91 84918 77114
Email: cs@srmcpl.com
Website: https://srmcpl.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
| Listing Date | April 3, 2024 |
| BSE Script Code | 544158 |
| NSE Symbol | SRM |
| ISIN | INE0R6Z01013 |
| Final Issue Price | ₹ 210 per share |
| Price Details | NSE | BSE |
|---|---|---|
| Final Issue Price | ₹ 210 | ₹ 210 |
| Open | ₹ 215.25 | ₹ 225 |
| Low | ₹ 215.25 | ₹ 213.75 |
| High | ₹ 226 | ₹ 236.20 |
| Close Price | ₹ 226 | ₹ 236.20 |
SRM Contractors Limited IPO is a main-board IPO of 6,200,000 equity shares of the face value of ₹ 10 per share aggregating up to ₹ 130.20 Crores. The issue is priced at ₹200 to ₹210 per share. The minimum order quantity is 70 Shares.
The SRM Contractors Limited IPO opens on March 26, 2024 and closes on March 28, 2024.
Retail Investors: ₹.14,700 (70 shares) Small HNI : ₹.205,800(14 lots, 980 shares) Big HNI : ₹.1,014,300(69 lots, 4830 shares)
The finalization of Basis of Allotment for SRM Contractors Limited IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, April 2, 2024. Check the SRM Contractors Limited IPO allotment status.