SRM Contractors IPO GMP: Check Issue Size, Price, Subscription Window Opening Date, Allotment And Other Details (image source: Canva)
SRM Contractors IPO GMP Today: The Initial public offering (IPO) of SRM Contractors is set to make its market debut, As the IPO is just around the corner a lot of anticipation is built around it in the investors’ community. Here are key important details of SRM Contractors IPO including issue size, price band, minimum investment, allotment date, listing date and registrar.
SRM Contractors IPO Issue Size
SRM Contractors IPO, a book-built issue worth Rs 130.20 crores, comprises an entirely fresh issuance of 0.62 crore shares.
SRM Contractors IPO Objective
The company SRM Contractors plans to utilize the Net Proceeds from the Issue for the following purposes: funding capital expenditure, repaying outstanding secured borrowings, meeting working capital needs, investing in Project-Specific Joint Venture Projects, and for General Corporate Purposes.
SRM Contractors IPO Subscription Window Opening Date
SRM Contractors IPO subscription window opens on March 26, 2024.
SRM Contractors IPO Subscription Window Closing Date
SRM Contractors IPO subscription window will be open for three days and closes on March 28, 2024.
SRM Contractors IPO GMP Today: Check Latest GMP
According to multiple unlisted market tracking websites. The grey market price (GMP) of SRM Contractors is priced at Rs 25 per share.
SRM Contractors IPO Price Band
SRM Contractors IPO has a fixed price band ranging from Rs 200 to Rs 210 per share.
SRM Contractors IPO Lot Size And Minimum Investment
SRM Contractors IPO minimum lot size is 70 shares. Retail investors are required to invest a minimum amount of ₹14,700. For non-institutional investors (NII), the minimum lot size investment is 14 lots (980 shares), amounting to Rs 2,05,800, and for bNII, it is 69 lots (4,830 shares), amounting to Rs 10,14,300.
SRM Contractors IPO Allotment Date
SRM Contractors IPO allotment is anticipated to be finalized on Monday, April 1, 2024.
SRM Contractors IPO Listing Date
SRM Contractors IPO is scheduled to list on BSE and NSE, tentatively set for Wednesday, April 3, 2024.
SRM Contractors IPO Registrar And Book Running Lead Manager
Interactive Financial Services Ltd serves as the book-running lead manager for the SRM Contractors IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue.
About SRM Contractors
SRM Contractors was established in 2008, SRM Contractors Limited specializes in construction and development, primarily focusing on roads, tunnels, slope stabilization works, and various other construction activities in the Union Territories of Jammu and Kashmir and Ladakh. Operating as an EPC contractor and through subcontracting infrastructure projects, the company’s major business verticals include road projects, tunnel projects, slope stabilization works, and miscellaneous civil construction activities such as government housing, drainage work, and irrigation projects. By March 2024, SRM Contractors Limited had completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs, including road construction, tunnel projects, slope stabilization work, and miscellaneous construction projects.
