SRM Contractors IPO Subscription Dates (Image Source: iStockphoto)
SRM Contractors IPO: The construction and development firm SRM Contractors is set to debut its Initial Public Offering (IPO) worth Rs 130.20 crores and the IPO comprises entirely fresh issues of 0.62 crore shares.
SRM Contractors IPO Subscription Dates
The SRM Contractors IPO opened for subscription on March 26, 2024, and it will close on March 28, 2024.
SRM Contractors IPO Price Band
The Priced in the range of Rs 200 to Rs 210 per share, the minimum lot size for an application is 70 shares, requiring a minimum investment of Rs 14,700 for retail investors. Strategic Non-Institutional Investors (sNII) are required to invest in 14 lots (980 shares), amounting to Rs 205,800, while Broad-based Non-Institutional Investors (bNII) must invest in 69 lots (4,830 shares), totaling Rs 1,014,300.
SRM Contractors IPO Allotment Date
The investors can anticipate the allotment to be finalized on Monday, April 1, 2024.
SRM Contractors IPO Listing Date
The SRM Contractors IPO is set to list on both the BSE and NSE tentatively on Wednesday, April 3, 2024
SRM Contractors 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 60 – 70 in the unlisted market.
SRM Contractors About
The company was established in 2008 and it specialises in construction and development projects, particularly in the Union Territories of Jammu and Kashmir and Ladakh. The company’s expertise lies in road projects, including bridges, tunnels, and slope stabilization works.
SRM Contractors IPO Purpose
The company intends to utilise the net proceeds from the IPO for various objectives, including funding capital expenditure for equipment/machinery, repayment of outstanding secured borrowings, and meeting working capital requirements.
Interactive Financial Services Ltd is serving as the book running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar.
(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.)
