Aspect Details
Subscription Status 3.67 times subscribed, with 1,57,72,750 shares bid against 43,40,100 shares offered
Non-Institutional Investors Subscribed 6.26 times
Retail Individual Investors (RIIs) Subscribed 3.54 times
Qualified Institutional Buyers (QIBs) Subscribed 1.57 times

The SRM Contractors Ltd IPO, which opened on March 26, has garnered significant investor interest, with a subscription rate of 3.67 times as of the first day of bidding. This indicates a positive response from the market, with non-institutional investors showing particular enthusiasm by subscribing 6.26 times. Retail investors also participated actively, with a subscription rate of 3.54 times.

SRM Contractors IPO GMP Today

Market observers have noted that unlisted shares of SRM Contractors Ltd are trading Rs 90 higher in the grey market compared to its issue price. The Rs 90 grey market premium (GMP) suggests an expected listing gain of 42.86% from the public issue. The GMP, while subject to change, reflects investor sentiment and willingness to pay above the issue price.

SRM Contractors IPO Details

The IPO comprises a fresh issue of up to 62,00,000 equity shares priced in the range of Rs 200-210 per share. SRM Contractors, an engineering construction and development company, primarily operates in the Union Territories of Jammu and Kashmir and Ladakh, focusing on roads, bridges, tunnels, and other civil construction projects.

The company, established in September 2008, raised Rs 39 crore from anchor investors prior to the public offering. Interactive Financial Services is managing the IPO, with a minimum investment requirement of Rs 14,700 for retail investors. Small and big non-institutional investors have different lot sizes and investment amounts, reflecting diverse participation in the offering.

Key IPO Information:

  • Issue Price Range: Rs 200-210 per share
  • Anchor Investor Investment: Rs 39 crore
  • Business Focus: Engineering construction and development
  • Manager to the Offer: Interactive Financial Services
  • Registrar: Bigshare Services Pvt Ltd

The SRM Contractors IPO presents an opportunity for investors to participate in the company’s growth and infrastructure development projects, with market dynamics indicating favorable prospects.

By admin