SRM Contractors IPO Price: ₹200 to ₹210
IPO Date Range: Mar 26, 2024 - Mar 28, 2024
Founded in 2008, SRM Contractors Limited operates as a construction and development firm specializing in a range of projects. Its primary focus includes road construction (including bridges), tunnel creation, slope stabilization endeavors, and various other construction undertakings within the Union Territories of Jammu and Kashmir and Ladakh.
The company functions both as an EPC contractor and on a unit-price basis for infrastructure projects while also subcontracting infrastructure construction endeavors.
Its major business verticals comprise:
As of March 2024, the company has successfully concluded 37 infrastructure construction projects, amounting to a total contract value of Rs. 77,088 lakhs. These projects encompass 31 road construction endeavors, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Among these, the company independently handled 29 infrastructure construction projects, including sub-contracts, while 8 projects were executed through project-specific joint ventures.
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹200 to ₹210 per share |
| Lot Size | 70 shares |
| Total Issue Size | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Fresh Issue | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 16,744,200 |
| Share holding post issue | 22,944,200 |
Bidders have the opportunity to bid for a minimum of 70 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| 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 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO 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 |
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Between the financial years ending on March 31, 2023, and March 31, 2022, SRM Contractors Limited experienced a 13.24% increase in revenue and a 6.71% rise in profit after tax (PAT).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 31 Dec 2023 |
|---|---|---|---|---|
| Assets | 112.47 | 120.22 | 137.36 | 168.87 |
| Revenue | 161.95 | 265.51 | 300.65 | 242.28 |
| Profit After Tax | 8.27 | 17.57 | 18.75 | 21.07 |
| Net Worth | 26.85 | 44.41 | 63.16 | 37.24 |
| Reserves & Surplus | 25.32 | 42.89 | 46.41 | 67.48 |
| Total Borrowing | 31.96 | 31.52 | 47.16 | 42.32 |
| KPI | Values |
|---|---|
| Market Cap (Rs Cr) | 481.83 |
| P/E (x) | 18.76 |
| ROE | % |
| ROCE | 29.43% |
| Debt/ Equity | 0.5 |
| EPS | 11.2 |
| RoNW | 25.02% |
The company intends to allocate the Net Proceeds from the Issue to finance the following objectives:
Prospectus: Official documents that provide detailed information about the IPO and the company. SRM Contractors DRHP and SRM Contractors RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"SRM Contractors Limited" IPO is ₹ 200 to ₹210 per share.
The "SRM Contractors Limited" IPO is expected to be listed on Wednesday, 3 April 2024.
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