Bookbuilding IPO | ₹130 Cr | Listed at BSE, NSE | Tue, Mar 26, 2024 - Thu, Mar 28, 2024
SRM Contractors IPO is a book build issue of ₹130.20 crores. The issue is entirely a fresh issue of 0.62 crore shares of ₹130.20 crore.
SRM Contractors IPO bidding started from Mar 26, 2024 and ended on Mar 28, 2024. The allotment for SRM Contractors IPO was finalized on Apr 1, 2024. The shares got listed on BSE, NSE on Apr 3, 2024.
SRM Contractors IPO price band is set at ₹210 per share. The lot size for an application is 70. The minimum amount of investment required by an retail is ₹14,700 (70 shares) (based on upper price). The lot size investment for sNII is 14 lots (980 shares), amounting to ₹2,05,800, and for bNII, it is 69 lots (4,830 shares), amounting to ₹10,14,300.
Interactive Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to SRM Contractors IPO RHP for detailed Information.
IPO Open
Tue, Mar 26, 2024
IPO Close
Thu, Mar 28, 2024
Issue Price
₹210 per share
Market Cap (Pre-IPO)
₹481.83 Cr
| IPO Date | 26 to 28 Mar, 2024 |
| Listed on | Wed, Apr 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹200 to ₹210 |
| Issue Price | ₹210 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 62,00,000 shares (agg. up to ₹130 Cr) |
| Fresh Issue | 62,00,000 shares (agg. up to ₹130 Cr) |
| Share Holding Pre Issue | 1,67,44,200 shares |
| Share Holding Post Issue | 2,29,44,200 shares |
| BSE Script Code / NSE Symbol | 544158 / SRM |
| ISIN | INE0R6Z01013 |
SRM Contractors IPO offers total 62,00,000 shares. Out of which 31,00,000 (50.00%) allocated to QIB, 12,40,100 (20.00%) allocated to QIB (Ex- Anchor), 9,30,000 (15.00%) allocated to NII 21,70,000 (35.00%) allocated to RII and 18,59,900 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 31,00,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 18,59,900 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 12,40,100 (20.00%) | NA |
| NII (HNI) Shares Offered | 9,30,000 (15.00%) | NA |
| − bNII > ₹10L | 6,20,000 (10.00%) | 632 |
| − sNII < ₹10L | 3,10,000 (5.00%) | 316 |
| Retail Shares Offered | 21,70,000 (35.00%) | 31,000 |
| Total Shares Offered | 62,00,000 (100.00%) |
Investors can bid for a minimum of 70 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,700 |
| Retail (Max) | 13 | 910 | ₹1,91,100 |
| S-HNI (Min) | 14 | 980 | ₹2,05,800 |
| S-HNI (Max) | 68 | 4,760 | ₹9,99,600 |
| B-HNI (Min) | 69 | 4,830 | ₹10,14,300 |
SRM Contractors IPO raises ₹39.06 crore from anchor investors. SRM Contractors IPO Anchor bid date is March 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 22, 2024 |
| Shares Offered | 18,59,900 |
| Anchor Portion (₹ Cr.) | 39.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, May 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jun 30, 2024 |
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:
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.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Total Income | 242.28 | 300.65 | 265.51 | 161.95 |
| Profit After Tax | 21.07 | 18.75 | 17.57 | 8.27 |
| NET Worth | 37.24 | 63.16 | 44.41 | 26.85 |
| Reserves and Surplus | 67.48 | 46.41 | 42.89 | 25.32 |
| Total Borrowing | 42.32 | 47.16 | 31.52 | 31.96 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 31.50 |
| 2 | Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company | 10.00 |
| 3 | Funding the Working Capital requirement | 46.00 |
| 4 | Investment In Joint Venture Project | 12.00 |
| 5 | General corporate purposes | 23.88 |
| KPI | Dec 31, 2023 |
|---|---|
| ROCE | 29.43% |
| Debt/Equity | 0.50 |
| RoNW | 25.02% |
| PAT Margin | 8.98% |
| Price to Book Value | 4.17 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.20 | 12.24 |
| P/E (x) | 18.76 | 17.15 |
| Promoter Holding | 99.92% | 72.92% |
| Market Cap | ₹481.83 Cr. |
The SRM Contractors IPO is subscribed 86.57 times on March 28, 2024 7:02:08 PM (Day 3). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 59.59 | 12,40,100 | 7,39,02,710 |
| NII | 214.94 | 9,30,000 | 19,98,89,690 |
| bNII (bids above ₹10L) | 220.57 | 6,20,000 | 13,67,51,650 |
| sNII (bids below ₹10L) | 203.67 | 3,10,000 | 6,31,38,040 |
| Retail | 46.97 | 21,70,000 | 10,19,17,130 |
| Total | 86.57 | 43,40,100 | 37,57,09,530 |
Total Application : 14,21,306
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission) | 2.81 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Issue and fee payable to the Sponsor Bank for Bids made by RIBs. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDP | 0.65 |
| 3 | Advertising and marketing expenses | 0.51 |
| 4 | Fee payable to auditors, consultants and market research firms | 0.05 |
| 5 | Fees to regulators, including Stock Exchanges | 1.73 |
| 6 | Others; (i) Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses (ii)Printing and distribution of stationery (iii) Fees payable to the Registrar to the Issue (iv) Fees payable to Legal Counsel (v) Fees payable to Monitoring Agency; and (vi). Miscellaneous | 1.06 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹210.00 | ₹210.00 |
| Open | ₹225.00 | ₹215.25 |
| Low | ₹213.75 | ₹215.25 |
| High | ₹236.20 | ₹226.00 |
| Last Trade | ₹236.20 | ₹226.00 |
Lead Manager Reports
SRM Contractors IPO is a main-board IPO of 62,00,000 equity shares of the face value of ₹10 aggregating up to ₹130 Crores. The issue is priced at ₹210 per share. The minimum order quantity is 70.
The IPO opens on Tue, Mar 26, 2024, and closes on Thu, Mar 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
Visit Zerodha IPO Application Process Review for more detail.
The SRM Contractors IPO opens on Tue, Mar 26, 2024 and closes on Thu, Mar 28, 2024.
SRM Contractors IPO lot size is 70, and the minimum amount required for application is ₹14,700.
You can apply in SRM Contractors IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Tue, Apr 2, 2024. Check the SRM Contractors IPO allotment status.
The SRM Contractors IPO listing date is on Wed, Apr 3, 2024.
