SRM Contractors Limited

26 Mar 2024 - 28 Mar 2024 Individual Category IPO NSE

Min Investment

₹14700

Price Band

₹200-₹210

Issue Size

43.4 lakhs
Equity Shares

Lot Size

70

IPO Dates
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26 Mar 2024

Open Date

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28 Mar 2024

Close Date

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01 Apr 2024

Allotment Date

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03 Apr 2024

Listing Date

SRM Contractors IPO is open for subscription starting from Tuesday, March 26, 2024, and will close on Thursday, March 28, 2024. The price is decided at Rs 200 to Rs 210 per share. The minimum lot size of this application for the retail category is 70 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 980 shares. Meanwhile, the minimum lot for big non-institutional investors is 69 lots with 4830 shares. The minimum investment required for retail category investors is Rs 14,700 ( 210 x 70 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,05,800 (210 x 980 shares); for big non-institutional investors, it is Rs 10,14,300 (210 x 4830 shares).  SRM Contractors IPO is a book-built issue of Rs 130.20 crores. The issue is completely a fresh issue of Rs 0.62 crore shares. The allotment for this IPO is expected to be finalised on Monday, April 1, 2024. SRM Contractors Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Wednesday, April 3, 2024. The book-running lead managers of SRM Contractors Limited are Interactive Financial Services Limited. The registrar for this new IPO is Bigshare Services Private Limited.

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About Srm Contractors Limited

SRM Contractors Limited was established in 2008, engaged in the business of construction and development. The company's business is focused on the construction of roads, bridges, tunnels, slope stabilisation works, and other construction activities in the UT of Jammu, Kashmir, and Ladakh. SRM Contractors operates as an EPC contractor and on a unit basis for the infrastructure projects. The company’s business is divided into three major business verticals. Road projects, Tunnel projects and Slope Stabilization works.  In Road projects, the company is involved in planning and construction of realignment, widening, upgradation, restoration, improvement of roads and bridges. In Tunnel projects, the company is involved in designing and construction of new tunnels, cut and cover tunnels for avalanche and landslide protection. Slope Stabilization works involved in planning and construction of reinforced embankment structures as a part of Slope stabilisation work. As of March 2024, the company has completed 37 structure construction projects. It includes 31 road construction projects, 3 tunnel projects, 1 slope stabilisation projects and two miscellaneous projects.

Founded

2008

Managing Director

Sanjay Mehta

Parent Organization

IPO Objectives

The amount received from the IPO is expected to get utilised for funding the capital expenditure requirements for purchasing of new machinery and equipment. Other than this, the net proceeds from this issue will be used for the repayment and prepayment of certain loans taken in past years. Also, to fund the working capital requirements of the company. Moreover, the proceeds will be used to invest in project-specific joint ventures projects.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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