SRM Contractors Limited IPO

SRM Contractors Limited IPO

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)

SRM Contractors Limited IPO Details
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
SRM Contractors Limited IPO Reservation
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%)
SRM Contractors Limited IPO Subscription Status (Bid Detail) Live Subscription

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
Total** 4,340,000 0 0.00 0.00

*The total sum is computed according to either the final issue price or the upper price range.
SRM Contractors Limited IPO Anchor Investors Details

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 Timeline (Tentative Schedule)

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
SRM Contractors Limited IPO Lot Size Lot Size Calculator

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
SRM Contractors Limited IPO Promoter Holding

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%
About SRM Contractors Limited IPO

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:

  • Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh.
  • Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh.
  • Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work.
  • Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work.

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.

Objects of the SRM Contractors Limited IPO

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:

  • Funding capital expenditure requirements for the purchase of equipment/machinery;
  • Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company;
  • Funding the working capital requirements of the company;
  • Investment in Project Specific Joint Venture Projects; and
  • General Corporate Purpose.
SRM Contractors Limited IPO Prospectus
Contact Details

SRM Contractors Limited
Sector 3,
Near BJP Head Office,
Trikuta Nagar, Jammu -180012
Phone: +91 84918 77114

SRM Contractors Limited IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

SRM Contractors Limited IPO Listing Details
Listing Date April 3, 2024
BSE Script Code 544158
NSE Symbol SRM
Final Issue Price ₹ 210 per share

Pre-Open Session - NSE Pre-Open Session - BSE

SRM Contractors Limited IPO Stock Quote & Charts
NSE Symbol: SRM
Day Open Price: ₹ 184.8
Day High - Low: ₹ 188.9 - ₹ 180.78
Previous Close: ₹ 184.78
Total Traded Value: ₹ 31477137.69
Traded Quantity: 170243
Total Trade: 2693
Updated On: 19 Jun 2024

Stock Details >>
Listing Day Trading Information View IPO Performance
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.