SRM Contractors IPO (Image Source: iStockphoto)
SRM Contractors Limited, a construction and development firm established in 2008, is set to launch its Initial Public Offering (IPO) valued at Rs 130.20 crores. The IPO, entirely comprising fresh shares totaling 0.62 crore.
SRM Contractors Limited IPO Subscription Window
SRM Contractors Limited IPO will open for subscription on March 26, 2024, and it will conclude on March 28, 2024.
SRM Contractors Limited IPO Allotment Date
The allotment of SRM Contractors Limited shares is anticipated to be finalized by April 1, 2024.
SRM Contractors Limited IPO Listing Date
The company is expected to debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on April 3, 2024.
SRM Contractors Limited IPO Price Band
With a price band ranging from Rs 200 to Rs 210 per share, the minimum lot size for retail investors is 70 shares, requiring a minimum investment of Rs 14,700. Substantial Non-Institutional Investors (sNII) are required to invest in a minimum of 14 lots (980 shares), amounting to Rs 205,800, while Big Non-Institutional Investors (bNII) need to commit to a minimum of 69 lots (4,830 shares), totaling Rs 1,014,300.
SRM Contractors Limited IPO GMP
As per multiple websites that track the grey market premium activities, the shares of SRM Contractors are commanding a GMP in the price range of Rs 20 – 30 in the unlisted market.
Interactive Financial Services Ltd serves as the book running lead manager for the SRM Contractors IPO, with Bigshare Services Pvt Ltd acting as the registrar for the issue.
The company is specializing in construction projects such as roads, bridges, tunnels, and slope stabilization works, SRM Contractors operates primarily in the Union Territories of Jammu and Kashmir and Ladakh. Its services encompass the planning, construction, and maintenance of infrastructure, offering expertise in road projects involving realignment, widening, and upgradation, as well as tunnelling projects encompassing design, construction, and stabilization efforts.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
