As SRM Contractors gears up for its Initial Public Offering (IPO), here are essential insights to consider:
- Company Profile: SRM Contractors specializes in various civil construction works across the challenging terrain of the Union Territories of Jammu & Kashmir and Ladakh, including highways, tunnels, and slope stabilization projects.
- Order Book: The company’s order book stands at ₹1199.31 crore as of January 31, 2024, reflecting its robust pipeline of projects.
- Promoters: The company’s promoters are Ashley Mehta, Puneet Pal Singh, and Sanjay Mehta.
- Listed Peers: Notable listed peers include Man Infraconstruction Ltd, ITD Cementation India Ltd, Likhitha Infrastructure Ltd, and Udayshivakumar Infra Ltd.
- Financial Performance: SRM Contractors witnessed a 6.71% increase in profit after tax and a 13.24% growth in revenue between March 31, 2022, and March 31, 2023.
- IPO Dates: The SRM Contractors IPO is set to open on Tuesday, March 26, and close on Thursday, March 28.
- Price Band: The price band for the IPO ranges from ₹200 to ₹210 per equity share with a lot size of 70 shares.
- Anchor Investors: The company raised ₹39 crore from three anchor investors on March 22, adding to investor confidence.
- Issue Details: The IPO comprises a fresh issue of up to 62,00,000 equity shares, with no offer-for-sale component.
- Objectives: Net proceeds from the IPO will be allocated to various objectives, including working capital requirements, loan repayments, and participating in joint ventures.
- Listing and Allotment: Tentatively, the share allotment date is scheduled for Monday, April 1, with refunds starting on Tuesday, April 2. The shares are expected to be listed on BSE and NSE on Wednesday, April 3.
- Lead Manager and Registrar: Interactive Financial Services Ltd is the book running lead manager, while Bigshare Services Pvt Ltd serves as the registrar.
- Reservation: The IPO reserves at least 15% for non-institutional investors, up to 50% for qualified institutional buyers, and not less than 35% for retail investors.
- Grey Market Premium: As of now, the grey market premium for SRM Contractors IPO stands at +68, indicating strong investor interest and potential listing at a premium.
Stay informed about these crucial aspects before considering participation in the SRM Contractors IPO.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
