SRM Contractors IPO GMP Price Today: Issue Subscribed 17.40 Times On Day 2 of Bidding; Check Key Details Ahead of Allotment Date. Image Source: Canva
SRM Contractors IPO GMP Price Today: The initial public offer of SRM Contractors got bumper subscription on day two. The firm is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilization works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh, as per its website. The company was incorporated in September 2008. Interactive Financial Services is the manager to the offer.
SRM Contractors IPO Subscription Status
The maiden share sale got subscribed 17.40 times on the second day of bidding on Wednesday. The Initial Public Offer (IPO) received bids for 7,55,13,970 shares against 43,40,100 shares on offer, according to data available with the NSE. The quota for non-institutional investors received 45.49 times subscription while the portion for Retail Individual Investors (RIIs) got subscribed 13.93 times. The category for Qualified Institutional Buyers (QIBs) fetched 2.41 times subscription. SRM Contractors mopped up Rs 39 crore from anchor investors on Friday. The SRM Contractors’ IPO received 3.56 times subscription on the first day of bidding on Tuesday.
SRM Contractors IPO Price Range
The IPO of fresh issue of up to 62,00,000 equity shares is in a price range of Rs 200-210 a share.
SRM Contractors IPO GMP Price Today
According to multiple websites that track the grey market premium activities, the shares of SRM Contractors are commanding a GMP in the price range of Rs 90 in the unlisted market.
(PTI Inputs)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
