SRM Contractors IPO GMP Today: The Initial public offering (IPO) of SRM Contractors opened its subscription window tomorrow March 26, 2024. The IPO has received an overwhelming response form the investors from the initial two days of opening. Today is the last day to apply for SRM Contractors IPO as the subscription window is scheduled to close on March 28, 2024. Check the latest GMP today, subscription status, issue size, price band, minimum investment, allotment date, listing date and other details.
Read More: Stocks to Watch: JSW Energy, BHEL, Tata Elxsi, LIC, Paytm, Zydus Life, and Others
SRM Contractors IPO Issue Size
The book-built issue of SRM Contractors IPO is worth Rs 130.20 crores, comprising an entirely fresh issuance of 0.62 crore shares.
SRM Contractors IPO Objective
The proceeds from the IPO will be utilized for funding capital expenditure, repaying outstanding secured borrowings, meeting working capital needs, investing in Project-Specific Joint Venture Projects, and for General Corporate Purposes.
SRM Contractors IPO Subscription Window Opening And Closing Date
The subscription window for SRM Contractors IPO opened on March 26, 2024, and closes on March 28, 2024.
Read More: Stock Market Updates: Sensex Jumps 250 Points, Nifty Above 22,150; Bajaj Twins Shine
SRM Contractors IPO Subscription Status
SRM Contractors IPO oversubscribed by 17.58 times, the retail category subscribed 14.21 times, QIB 2.41 times, and NII 45.70 times by March 27, 2024 (Day 2).
SRM Contractors IPO GMP Today: Check Latest GMP Today
The grey market price (GMP) of SRM Contractors ranges from Rs 90 to 115 per share, as per multiple unlisted market tracking websites.
SRM Contractors IPO Price Band
SRM Contractors IPO has a fixed price band ranging from Rs 200 to Rs 210 per share.
SRM Contractors IPO Lot Size and Minimum Investment
The minimum lot size for SRM Contractors IPO is 70 shares. Retail investors need to invest a minimum amount of ₹14,700. Non-institutional investors (NII) have a minimum lot size investment of 14 lots (980 shares), amounting to Rs 2,05,800, while for bNII, it is 69 lots (4,830 shares), amounting to Rs 10,14,300.
Read More: IDFC First Bank shares fall 3.5% as Warburg likely exits block deal: Details here
SRM Contractors IPO Allotment Date
The allotment of SRM Contractors IPO is anticipated to be finalized on Monday, April 1, 2024.
SRM Contractors IPO Listing Date
The SRM Contractors IPO is scheduled to list on BSE and NSE, tentatively set for Wednesday, April 3, 2024.
SRM Contractors IPO Registrar and Book Running Lead Manager
Interactive Financial Services Ltd serves as the book-running lead manager for the SRM Contractors IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue.
About SRM Contractors
SRM Contractors was established in 2008, SRM Contractors Limited specializes in construction and development, focusing primarily on roads, tunnels, slope stabilization works, and various other construction activities in the Union Territories of Jammu Kashmir and Ladakh. Operating as an EPC contractor and through subcontracting infrastructure projects, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs by March 2024, including road construction, tunnel projects, slope stabilization work, and miscellaneous construction projects.
