SRM Contractors IPO Grey Market Premium Indicates Strong Investor Interest (Image Source: iStockphoto)
SRM Contractors IPO: SRM Contractors is set to launch its IPO worth Rs 130.20 crores and it will have a fresh issue of 0.62 crore shares.
SRM Contractors Subscription Window
The SRM Contractors is set to open on March 26, 2024, and it will close on March 28, 2024.
SRM Contractors IPO Allotment Date
The allotment for SRM Contractors IPO is anticipated to be concluded on April 1, 2024.
SRM Contractors IPO Listing Date
The listing of SRM Contractors on BSE and NSE is tentatively slated for April 3, 2024.
SRM Contractors IPO Price Band
The SRM Contractors IPO has a price band of Rs 200 to Rs 210 per share, the IPO requires a minimum lot size of 70 shares, translating to an investment of Rs 14,700 for retail investors. For sNII, the minimum investment stands at 14 lots (980 shares), amounting to Rs 205,800, while for bNII, it is 69 lots (4,830 shares), totaling Rs 1,014,300.
SRM Contractors IPO Purpose
The net proceeds from the IPO are earmarked for funding capital expenditure requirements, repayment of outstanding secured borrowings, working capital needs, investment in project-specific joint venture projects, and general corporate purposes.
SRM Contractors IPO GMP
According to various sources monitoring grey market premium movements, the shares of SRM Contractors IPO are currently trading with a premium ranging between Rs 40 and Rs 50 in the unlisted market.
Interactive Financial Services Ltd serves as the book running lead manager, with Bigshare Services Pvt Ltd acting as the registrar.
SRM Contractors Limited was established in 2008 and specialises in construction and development projects, primarily focusing on roads (including bridges), tunnels, slope stabilization works, and other infrastructure activities in the Union Territories of Jammu and Kashmir and Ladakh.
The company operates as an EPC contractor and undertakes infrastructure projects on a unit-price basis, including subcontracts for construction projects.
SRM Contractors’ core business verticals encompass road projects, involving planning, construction, and maintenance of roads, bridges, and highways, as well as tunnel projects, encompassing design, construction, and maintenance of tunnels for avalanche and landslide protection in the aforementioned regions.
(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.)
