SRM Contractors Limited IPO GMP Review: The IPO, which will open on March 26, is a book-built issue with a total size of Rs 130.20 crore. The company is issuing 0.62 lakh shares fresh through this IPO. Investors can apply for this IPO from 26 March to 28 March 2024. You will get to see this IPO listed on the BSE, NSE exchange on Wednesday, April 3. Let’s know the full details of this IPO.
SRM Contractors Limited IPO Details
IPO Name
SRM Contractors Limited
IPO Start Date
26 March 2024
IPO End Date
28 March 2024
Price Band
200-210 Per Share
Lot Size
70 Shares
Face Value
10 Rupees Per Share
Total Issue Size
6,200,000 Shares
Fresh Issue Shares
6,200,000 Shares
Shares Allotment Date
Monday, 1 April 2024
Refund Date
Tuesday, 2 April 2024
Demat Transfer
Tuesday, 2 April 2024
Listing Date
Wednesday, 3 April 2024
UPI Cut Off Time
5 pm 28 March 2024
Listing Exchange Name
BSE, NSE
SRM Contractors Limited IPOCategory Wise Lot Size
Category
Lots
Shares
Total Amount
Retail (Min.)
1
70
14,700
Retail (Max.)
13
910
191,100
HNI (Min.)
14
980
205,800
HNI (Max.)
68
4,760
999,600
B-HNI (Min.)
69
4,830
1,014,300
SRM Contractors Limited IPOCompany Information
The promoters of this company are Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh. Formed in 2008, this company is a construction and development company that works in the construction of roads, bridges, tunnels etc.
With the money raised from the IPO, this company is going to use the money for the purchase of machinery and equipment, outstanding loan payment etc.
SRM Contractors Limited Company Financial Information
Period
31 December 2023
31 March 2023
31 March 2022
31 March 2021
Earnings
242.28 Crore
300.65 Crore
265.51 Crore
161.95 Crore
Profit After Tax
21.07 Crore
18.75 Crore
17.57 Crore
8.27 Crore
Net Worth
37.24 Crore
63.16 Crore
44.41 Crore
26.85 Crore
Assets
168.87 Crore
137.36 Crore
120.22 Crore
112.47 Crore
Loan
42.32 Crore
47.16 Crore
31.52 Crore
31.96 Crore
SRM Contractors Company has an ROE of 29.43% and a market cap of 481.83 Crore.
By the way, this IPO is not bad for investing. But its GMP is still less than 50%. If the GMP of this IPO sustains more than 50%, then it will be considered good for the IPO listing gain. After the IPO opens, what is going to be its demand and whether its gray market premium will bounce or not, according to that, investment in this IPO can be considered.
NOTE: The information related to the IPO is for educational purposes only. Consider with your financial advisor before investing in an IPO.
