SRM Contractors is launching its IPO as an e-book built for trouble worth Rs Rs 130.20 crores, comprising absolutely of fresh stocks totaling .0.62 crore.
The subscription for SRM Contractors IPO commences on March 26, 2024, and concludes on March 28, 2024. Allotment for this IPO is predicted to be finalized by Monday, April 1, 2024. The list of SRM Contractors IPO is scheduled for Wednesday, April three, 2024, on each BSE and NSE.
The charge band for SRM Contractors IPO is constant among ₹200 to ₹210 per share. The minimum application lot length is 70 shares, requiring a minimum investment of ₹14,700 for retail traders. Substantial Net Individual Investors (sNII) want to spend money on as a minimum 14 lots (980 shares), totaling ₹205,800, whilst for Big Net Individual Investors (bNII), the minimal lot length funding is 69 lots (4,830 stocks), amounting to ₹1,014,300.
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SRM Contractors IPO Timeline (Tentative Schedule)
SRM Contractors IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO (Initial Public Offering) Open Date | Tuesday, March 26, 2024 |
| IPO (Initial Public Offering) Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
SRM Contractors IPO Lot Size:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,700 |
| Retail (Max) | 13 | 910 | ₹191,100 |
| S-HNI (Min) | 14 | 980 | ₹205,800 |
| S-HNI (Max) | 68 | 4,760 | ₹999,600 |
| B-HNI (Min) | 69 | 4,830 | ₹1,014,300 |
SRM Contractors IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,859,900 (30.00%) | NA |
| QIB Shares Offered | 1,240,100 (20.00%) | NA |
| NII (HNI) Shares Offered | 930,000 (15.00%) | |
| bNII > ₹10L | 620,000 (10.00%) | 632 |
| sNII < ₹10L | 310,000 (5.00%) | 316 |
| Retail Shares Offered | 2,170,000 (35.00%) | 31,000 |
| Total Shares Offered | 6,200,000 (100%) |
SRM Contractors IPO Anchor Investors Details
| Bid Date | March 22, 2024 |
| Shares Offered | 1,859,900 |
| 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 |
About SRM Contractors Limited
Established in 2008, SRM Contractors Limited makes a specialty of production and development activities, focusing more often than not on infrastructure initiatives in the Union Territories of Jammu and Kashmir, and Ladakh.
Operating as an Engineering, Procurement, and Construction (EPC) contractor, SRM Contractors undertakes numerous tasks on a unit-charge foundation. Their information lies in a couple of domains:
Road Projects: This entails the planning, construction, and renovation of roads, bridges, and highways, which include realignment, widening, upgradation, restoration, strengthening, and development.
Tunnel Projects: SRM Contractors are concerned with the layout and creation of tunnels, together with those for avalanche and landslide safety, as well as enlargement, upgradation, restoration, strengthening, and niche introduction or alterations.
Slope Stabilization Works: The organization engages in the planning and construction of bolstered embankment systems to stabilize slopes.
Miscellaneous Civil Construction Activities: This includes various civil construction works together with government housing and residential gadgets, drainage systems, irrigation tasks, and flood protection works.
As of March 2024, SRM Contractors has efficaciously completed 37 infrastructure production initiatives, with a cumulative settlement fee of Rs. 77,088.00 lakhs. These tasks include 31 road construction ventures, three tunnel initiatives, 1 slope stabilization undertaking, and a couple of miscellaneous creation works. Of those, 29 tasks, together with sub-contracts, have been independently undertaken with the aid of the corporation, while eight initiatives have been completed through project-precise joint ventures.
As of January 31, 2024, SRM Contractors employed a personnel of 275 full-time employees, together with experts and employees, to execute its tasks correctly.
SRM Contractors Limited Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Revenue | 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 | ||||