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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 ₹210.00 per share . The lot size for an application is 70. The minimum amount of investment required by an retail is ₹14,000 (70 shares). 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 Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹200 to ₹210 per share |
| Issue Price Final | ₹210 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 62,00,000 shares (aggregating up to ₹130.20 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,67,44,200 shares |
| Share Holding Post Issue | 2,29,44,200 shares |
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, 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 | Maximum 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%) |
SRM Contractors IPO raises ₹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 | 18,59,900 |
| 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 opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tue, Mar 26, 2024 |
| IPO Close Date | Thu, Mar 28, 2024 |
| Tentative Allotment | Mon, Apr 1, 2024 |
| Initiation of Refunds | Tue, Apr 2, 2024 |
| Credit of Shares to Demat | Tue, Apr 2, 2024 |
| Tentative Listing Date | Wed, Apr 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 28, 2024 |
Investors can bid for a minimum of 70 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
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 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 market capitalization of SRM Contractors IPO is ₹481.83 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| 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 Rs | 11.20 | 12.24 |
| P/E (x) | 18.76 | 17.15 |
[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...
| Listing Date | April 3, 2024 |
| BSE Script Code | 544158 |
| NSE Symbol | SRM |
| ISIN | INE0R6Z01013 |
| Final Issue Price | ₹210 per share |
| BSE Listing Group | T |
SRM Contractors Ltd.
Sector 3,
Near BJP Head Office,
Trikuta Nagar
Jammu, Jammu and Kashmir, 180012
Phone: +91 84918 77114
Email: cs@srmcpl.com
Website: https://srmcpl.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
SRM Contractors IPO is a main-board IPO of 62,00,000 equity shares of the face value of ₹10 aggregating up to ₹130.20 Crores. The issue is priced at ₹210 per share. The minimum order quantity is 70.
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
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, 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 Tuesday, April 2, 2024. Check the SRM Contractors IPO allotment status.
The SRM Contractors IPO listing date is on Wednesday, April 3, 2024.
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