The SRM Contractors Limited IPO launched today in the Indian Primary Market. The IPO is scheduled to remain open until the 28th of March 2024, the public issue has set its price band for equity shares at INR 200 to INR 210. This book build issue is slated for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), aiming to raise INR 130.20 Cr through the issuance of fresh shares.
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Today is the commencement of the IPO of SRM Contractors Ltd, to be launched into the primary market here in India. The IPO is scheduled to remain open until the 28th of March 2024, the public issue has set its price band for equity shares at INR 200 to INR 210 per equity share. This book-building issue, slated for listing both at BSE and NSE, is scheduled to be held to raise INR 130.20 crore through fresh issue shares.
Grey Market Premium (GMP)
The company’s shares have already exhibited strength in the grey market, this stock market observers reporting a premium of INR 67 per share. This bullish sentiment underscores investors’ confidence in the company’s prospects.
Subscription Status
As of 10:51 AM on the first day of bidding, the IPO has been subscribed 0.50 times overall, with the retail portion oversubscribed at 0.69 times and the Non-Institutional Investor (NII) portion at 0.73 times, indicating strong interest from various investor segments.
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Key Details of SRM Contractors IPO
Grey Market Premium (GMP) – The company’s shares were trading at a premium of INR 67 in the Grey Market.
IPO Price Band – The price band is fixed at INR 200 to INR 210 per equity share offering a defined range for participation.
Subscription Period – Investors have until the 28th of March 2024 to subscribe to the IPO.
IPO Size – The company aims to raise INR 130.20 Cr
Lot Size – One lot of the mainboard IPO comprises 70 shares, catering to various investment preferences.
Allotment Date – Tentatively set for the 1st of April 2024, providing clarity on share allocation.
Registrar to an Issue (RTI) – Bigshare Services Private Limited has been appointed as the official registrar for the IPO, ensuring seamless processing of investor applications.
Listing Platforms – The IPO is slated for listing on both BSE and NSE, expanding access to investors across different platforms.
Listing Date – The shares are expected to get listed on the 3rd of April 2024.
Disclaimer
The content of this article is only for informational purposes and we do not offer any investment advice from our end. Please consult a SEBI-registered investment advisor before making any investment decision. The information does not necessarily reflect the views/opinions of the publisher.
