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SRM Contractors Limited IPO (SRM Contractors IPO) Detail

March 26, 2024 - March 28, 2024

SRM Contractors IPO is a book built issue of Rs 130.20 crores. The issue is entirely a fresh issue of 0.62 crore shares.

SRM Contractors IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for SRM Contractors IPO was finalized on Monday, April 1, 2024. The shares got listed on BSE, NSE on April 3, 2024.

SRM Contractors IPO price band is set at ₹200 to ₹210 per share. The minimum lot size for an application is 70 Shares. The minimum amount of investment required by retail investors is ₹14,700. The minimum lot size investment for sNII is 14 lots (980 shares), amounting to ₹205,800, and for bNII, it is 69 lots (4,830 shares), amounting to ₹1,014,300.

Interactive Financial Services Ltd is the book running lead manager of the SRM Contractors IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to SRM Contractors IPO RHP for detailed information.

SRM Contractors IPO Details

IPO Date March 26, 2024 to March 28, 2024
Listing Date April 3, 2024
Face Value ₹10 per share
Price Band ₹200 to ₹210 per share
Lot Size 70 Shares
Total Issue Size6,200,000 shares
(aggregating up to ₹130.20 Cr)
Fresh Issue6,200,000 shares
(aggregating up to ₹130.20 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue16,744,200
Share holding post issue22,944,200

SRM Contractors IPO Reservation

SRM Contractors IPO offers 6,200,000 shares. 1,240,100 (20.00%) to QIB, 930,000 (15.00%) to NII, 2,170,000 (35.00%) to RII and 1,859,900 (30.00%) to Anchor investors. 31,000 RIIs will receive minimum 70 shares and 316 (sNII) and 632 (bNII) will receive minimum 980 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered1,859,900 (30.00%)NA
QIB Shares Offered1,240,100 (20.00%)NA
NII (HNI) Shares Offered930,000 (15.00%)
  bNII > ₹10L620,000 (10.00%)632
  sNII < ₹10L310,000 (5.00%)316
Retail Shares Offered2,170,000 (35.00%)31,000
Total Shares Offered6,200,000 (100%)

SRM Contractors IPO Anchor Investors Details

SRM Contractors IPO raises Rs 39.06 crore from anchor investors. SRM Contractors IPO Anchor bid date is March 22, 2024. SRM Contractors IPO Anchor Investors list

Bid Date March 22, 2024
Shares Offered 1,859,900
Anchor Portion Size (In Cr.) 39.06
Anchor lock-in period end date for 50% shares (30 Days) May 1, 2024
Anchor lock-in period end date for remaining shares (90 Days) June 30, 2024

SRM Contractors IPO Timeline (Tentative Schedule)

SRM Contractors IPO opens on March 26, 2024, and closes on March 28, 2024.

IPO Open Date Tuesday, March 26, 2024
IPO Close Date Thursday, March 28, 2024
Basis of Allotment Monday, April 1, 2024
Initiation of Refunds Tuesday, April 2, 2024
Credit of Shares to Demat Tuesday, April 2, 2024
Listing Date Wednesday, April 3, 2024
Cut-off time for UPI mandate confirmation 5 PM on March 28, 2024

SRM Contractors IPO Lot Size

Investors can bid for a minimum of 70 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 70 ₹14,700
Retail (Max) 13 910 ₹191,100
S-HNI (Min) 14 980 ₹205,800
S-HNI (Max) 68 4,760 ₹999,600
B-HNI (Min) 69 4,830 ₹1,014,300
Lot Size Calculator

SRM Contractors IPO Promoter Holding

Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh are the company's promoters.
Share Holding Pre Issue 99.92%
Share Holding Post Issue 72.92%

About SRM Contractors Limited

Established in 2008, SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh.

The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects.

The company has these major business verticals:

  • Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh.
  • Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh.
  • Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work.
  • Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work.

As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.

As on January 31, 2024, the company employed 275 full-time employees, consisting of specialists and workers.

SRM Contractors Limited Financial Information (Restated Consolidated)

SRM Contractors Limited's revenue increased by 13.24% and profit after tax (PAT) rose by 6.71% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets168.87137.36120.22112.47
Revenue242.28300.65265.51161.95
Profit After Tax21.0718.7517.578.27
Net Worth37.2463.1644.4126.85
Reserves and Surplus67.4846.4142.8925.32
Total Borrowing42.3247.1631.5231.96
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of SRM Contractors IPO is Rs 481.83 Cr.

KPI as of December 31, 2023.

KPI Values
ROCE29.43%
Debt/Equity0.5
RoNW25.02%
P/BV4.17
PAT Margin (%)8.98
Pre IPO Post IPO
EPS (Rs) 11.212.24
P/E (x) 18.7617.15
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.

Objects of the Issue (SRM Contractors IPO Objectives)

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
  1. Funding capital expenditure requirements for the purchase of equipment/machinery;
  2. Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company;
  3. Funding the working capital requirements of the company;
  4. Investment in Project Specific Joint Venture Projects; and
  5. General Corporate Purpose.

SRM Contractors IPO Review (Apply)

[Dilip Davda]  The company is engaged in specialized engineering construction business for roads, tunnels, slop stabilization etc. and has been reporting steady growth in its top and bottom lines. The company has orders worth Rs. 1199+ cr. on hand as of December 2023, indicating the prospects for the near term. Based on FY24 annualized earnings, the issue appears fully priced. However, except the Lead Managers poor track record, other parameters are in line. Investors may park funds for the medium to long term rewards. Read detail review...


SRM Contractors IPO Subscription Status (Bidding Detail)

The SRM Contractors IPO is subscribed 86.57 times on March 28, 2024 7:02:08 PM. The public issue subscribed 46.97 times in the retail category, 59.59 times in the QIB category, and 214.94 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB59.59
NII214.94
    bNII (bids above ₹10L)220.57
    sNII (bids below ₹10L)203.67
Retail46.97
Total86.57

Total Application : 1,421,306 (45.85 times)

SRM Contractors IPO Prospectus

SRM Contractors IPO Rating

10
4.1
Rating:Rated 4.1 stars
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SRM Contractors IPO Listing Details

Listing Date April 3, 2024
BSE Script Code 544158
NSE Symbol SRM
ISIN INE0R6Z01013
Final Issue Price ₹210 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹210.00
₹225.00
₹213.75
₹236.20
₹236.20
NSE
₹210.00
₹215.25
₹215.25
₹226.00
₹226.00

Check IPO Performance…

SRM Contractors Limited Contact Details

SRM Contractors Limited
Sector 3,
Near BJP Head Office,
Trikuta Nagar, Jammu -180012
Phone: +91 84918 77114
Email: cs@srmcpl.com
Website: https://srmcpl.com/

SRM Contractors IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

SRM Contractors IPO - Buy or Not

SRM Contractors IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 6 2 0
Members 0 0 0

Read All Reviews Post Your Review Manage Reviews

SRM Contractors IPO FAQs

SRM Contractors IPO is a main-board IPO of 6,200,000 equity shares of the face value of ₹10 aggregating up to ₹130.20 Crores. The issue is priced at ₹200 to ₹210 per share. The minimum order quantity is 70 Shares.

The IPO opens on March 26, 2024, and closes on March 28, 2024.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in SRM Contractors IPO using UPI as a payment gateway. Zerodha customers can apply in SRM Contractors IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in SRM Contractors IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'SRM Contractors IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The SRM Contractors IPO opens on March 26, 2024 and closes on March 28, 2024.

SRM Contractors IPO lot size is 70 Shares, and the minimum amount required is ₹14,700.

You can apply in SRM Contractors IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for SRM Contractors IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, April 2, 2024. Check the SRM Contractors IPO allotment status.

The SRM Contractors IPO listing date is on April 3, 2024.
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SRM Contractors IPO Message Board

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653 Comments

239. akudi |   Link |  Bookmark |April 18, 2024 3:14:52 PM (400+ Posts)
20% ki circuit kab hogi iski sir
239.1. sree vas |   Link |  Bookmark |April 21, 2024 8:42:50 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
@akudi 
it's now in 20%, you can play with 20% from tommorow
238. Jayy |   Link |  Bookmark |April 9, 2024 7:23:31 PM
Should we hold or sell ? Please advise anyone. Thanks!
237. Sandapaul |   Link |  Bookmark |April 9, 2024 1:21:40 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Bought 1 shni lot today below ipo price 🤣🤣🤣
236. sree vas |   Link |  Bookmark |April 9, 2024 1:10:13 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
mee too, bought a few shares. not allotted
235. Manup |   Link |  Bookmark |April 9, 2024 10:22:15 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Bought today @ 206 Not alloted in ipo.Lets see
234. Yash Lahigude |   Link |  Bookmark |April 8, 2024 4:19:19 PM
@Admin @ Chittorgarh.com  Please listen to the people above...
233. GAUTAM GOYAL |   Link |  Bookmark |April 8, 2024 12:16:45 PM (200+ Posts)
Tejas Ji..it was expected to list around 290 but it listed much below and now also on lower circuit... please advise should i continue to hold my ipo allotment ...i was expecting a minimum return of 5k per lot..
233.1. Tejas Pandya |   Link |  Bookmark |April 8, 2024 12:27:20 PM
IPO Guru IPO Guru (3500+ Posts, 2700+ Likes)
@GAUTAM GOYAL Bhai main aapke liye to nahi keh sakta lekin main mera 1 BHNI hold karke baitha hu..jis tarah se ipo aa rahe hai listing pop milna mushkil hota ja raha hai.. isme aap apne risk appetite ke hisab se stop loss rakhke chaliye..Main agar ye 210 ke niche jayega to bech dunga..
233.2. GAUTAM GOYAL |   Link |  Bookmark |April 8, 2024 12:31:56 PM (200+ Posts)
I think its operators play...since it was a small issue and equity with public is limited...they are in a position to swing it in any direction..i will also wait and watch..
232. VIPVIP |   Link |  Bookmark |April 8, 2024 10:58:50 AM (300+ Posts)
Why its going down and down?
Any major negative which not highlighted?
Experts please guide what to do?
Fundamental views?
231. GAUTAM GOYAL |   Link |  Bookmark |April 5, 2024 12:29:13 PM (200+ Posts)
SRM at lower circuit today... It already listed at much much below than expected price...what should we do...holding one lot
231.1. Tejas Pandya |   Link |  Bookmark |April 5, 2024 12:35:01 PM
IPO Guru IPO Guru (3500+ Posts, 2700+ Likes)
I think stock will move towards upwards direction after 1-2 lower circuit..I may be 💯 percent wrong...
231.2. Tejas Pandya |   Link |  Bookmark |April 8, 2024 12:10:43 PM
IPO Guru IPO Guru (3500+ Posts, 2700+ Likes)
1-2 Lower circuit wala guess sach ho Gaya ab dekhte hai upward movement karta hai ya nahi..😊
230. TRK |   Link |  Bookmark |April 4, 2024 1:30:56 PM
I have couple of questions
1. Yesterday i bave bought srm shares at 10am in groww at 215.
2 yesterday in grow it shown as UC at 236. But in other websites it is showing as UC at 226.
3. Still the shares not have been credited in my grow account.
4. Again in today, in grow it has showing as the UC is at 248(bse) and 237(nse). When i have refered other websites it is showing as 237 as Uc.
And currently in other websites it is showing as UC touched at 237. But in grow(bse) it is still fluctuating below uc as you seen in the pic.
Will there be such huge difference between the nse and bse pices?
Dear seniors please give your inputs regarding these things. It will be great helpful to me me

230.2. Rakcyt |   Link |  Bookmark |April 4, 2024 6:39:17 PM
IPO Guru IPO Guru (1300+ Posts, 1300+ Likes)
@TRK  Normally standardization occurs once price settles down at two exchanges but in this case it didn't happen and hence rate difference . It's good for arbitrators who benefit out of this but not much for retailers - buy at NSE and sell at bse and enjoy that difference.
But as said by @VVIIPP It's equilibrated to large extent
230.3. TRK |   Link |  Bookmark |April 4, 2024 10:48:13 PM
Thanks for texting back. But the todays bse uc is tommorow nse uc? Because there is 11-12 points differences which is 5%. After the corrections the will the bse price will fall?
229. Chhote Lal |   Link |  Bookmark |April 4, 2024 10:20:23 AM
IPO Mentor IPO Mentor (5900+ Posts, 4300+ Likes)
SRM is at UC, no opportunity to enter. Appears more khela hobe.
229.3. I kHAN |   Link |  Bookmark |April 5, 2024 11:56:21 AM (200+ Posts)
@Chhote Lal  bro, Count today as Opportunity or not?
229.4. Chhote Lal |   Link |  Bookmark |April 5, 2024 2:22:50 PM
IPO Mentor IPO Mentor (5900+ Posts, 4300+ Likes)
@I kHAN Counter is hitting circuits, there may be opportunity if it is available at IPO price. Not today.
228. Leoric |   Link |  Bookmark |April 3, 2024 11:09:25 AM
Bhai hadd ho gii yo SBI ki....
Those mandated using SBI account, Did anyone get release of funds ?
228.5. Kaazim |   Link |  Bookmark |April 3, 2024 1:47:45 PM
@Leoric Amount not yet unblocked for my sbi gpay upi
228.6. ROAR |   Link |  Bookmark |April 4, 2024 2:27:13 AM (300+ Posts)
@Leoric Funds got unblocked at 11pm yesterday
227. IPOTraders |   Link |  Bookmark |April 3, 2024 5:47:46 PM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
Aaj to SRM ne dhoka de diya, 2024-25 ka pahla allotment mila tha, aur khela ho gaya.
Vaise Newgen ne is baare mein hint diya tha.
He is a real gem, he reveals secret information at early stage, which is shown by others at later stage.
Request @Admin @ Chittorgarh.com to join him again in the forum.
227.10. IPO smart |   Link |  Bookmark |April 8, 2024 4:09:13 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Please bring him back otherwise make Admin of this forum. Thanks
227.11. IPOTraders |   Link |  Bookmark |April 18, 2024 5:49:48 PM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
Happy to see @newgen consultancy again.
Thanks Admin @ Chittorgarh.com
226. Santosh IPO Investor |   Link |  Bookmark |April 3, 2024 9:17:27 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
SRM bakwas listing
226.1. Chhote Lal |   Link |  Bookmark |April 4, 2024 12:54:56 AM
IPO Mentor IPO Mentor (5900+ Posts, 4300+ Likes)
Listing was definitely not as per GMP indications but it still managed to list in positive territory, not that bakwaas - so to say !
225. Wizard blast |   Link |  Bookmark |April 3, 2024 8:42:36 PM
GMP dhoka de Diya of the year
Jin ka allotment hua - not a bad ipo! Atleast somewhat good returns
224. ruralurban |   Link |  Bookmark |April 3, 2024 7:30:29 PM
My money is also not released from SBI - BHIM UPI. Want my funds urgently. Any suggestions?
223. Kaazim |   Link |  Bookmark |April 3, 2024 7:06:28 PM
Bhai SBI Gpay UPI amount release nahi hua hai, Any suggestions please?
222. lucky boy |   Link |  Bookmark |April 3, 2024 10:47:22 AM
IPO Mentor IPO Mentor (1300+ Posts, 400+ Likes)
operators pure game kar diya...
price were stable till 9.42 am @ 295

last 3 minutes buyers gone 12 lakhs from 16 lakhs..

one will be upper circuit and will be lower ciruit i guess
222.6. SOAM |   Link |  Bookmark |April 3, 2024 12:27:41 PM
Top Contributor Top Contributor (900+ Posts, 100+ Likes)
@ROAR The reputation of LM & MM remains intact as they managed to list the IPO positive despite of negative market sentiments. If they want to take the stock up, they got at a cheaper valuation by creating panic. If they want to break the stock, they got exit at a upper level. Its a Win Win situation for them in either of the case. They may be from the company side, LM side, MM side, some 3rd party side, mix of some or all.
222.7. ROAR |   Link |  Bookmark |April 3, 2024 4:52:44 PM (300+ Posts)
@SOAM hmm, thanks for explaining btw
221. TRK |   Link |  Bookmark |April 3, 2024 4:31:57 PM
Will there be any upward movement tomorrow as it listed below the expectations?
220. Regulagedda Ambica Prasad |   Link |  Bookmark |April 3, 2024 4:21:50 PM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Bought in market post listing @ 225.