SRM Contractors IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 03, 2024Let’s have a detailed review of the company and analytics of the SRM Contractors IPO release date, IPO offer price, subscription, SRM Contractors Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 200 to Rs 210 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 70 Shares |
| Listing Date | April 3, 2024 |
| Offer for Sale | Rs Crore |
| Fresh Issue | Rs 130.20 Crore |
| IPO Size | Rs 130.20 Crore |
| Tick Size | 1 |
SRM Contractors IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – SRM Contractors Share Price |
SRM Contractors IPO – Summary
They are an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh.
They undertake construction works both as an EPC contractor and on an item-rate basis for infrastructure projects. Their Company also undertake sub-contracting assignments for infrastructure construction projects.
The promoters of this company are SANJAY MEHTA, ASHLEY MEHTA AND PUNEET PAL SINGH. The lead manager of the issue is Interactive Financial Services Limited, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
SRM Contractors IPO Date
The opening and closing dates of SRM Contractors IPO are March 26, 2024 and March 28, 2024, respectively.
SRM Contractors IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 26th Mar | 1.57x | 6.32x | 3.70x | 3.65x |
| 2nd Day – 27th Mar | 2.41x | 45.70x | 14.21x | 17.58x |
| 3rd Day – 28th Mar | 59.59x | 214.94x | 46.97x | 86.57x |
| Shares Offered or Net Issue | 1,240,100 | 930,000 | 2,170,000 | 6,200,000 |
The shares subscribed by the public will be updated here.
SRM Contractors IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
SRM Contractors Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | April 1, 2024 |
| Refunds Initiation | April 2, 2024 |
| Credit of Shares to Demat Account | April 2, 2024 |
| Share Listing Date | April 3, 2024 |
SRM Contractors IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.Rs 200 to Rs 210
SRM Contractors IPO Equity Size
This Initial Public Issue of 6,200,000 Equity Shares of Rs.10 each for cash at a price of Rs 200 to Rs 210 per equity share aggregating to Rs.130.20 Crore.
SRM Contractors IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,200,000 Equity Shares of Rs.10/ each.
Issue Size: 6,200,000 Equity Shares of Rs.10 each, aggregating to Rs.130.20 Crore
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SRM Contractors IPO – Live Performance
The listing date of this IPO is April 3, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – SRM Contractors Share Price |
SRM Contractors IPO Grey Market Premium
The SRM Contractors Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
SRM Contractors IPO – Company Overview
They have a track record of successful execution of road, tunnel and slope stabilization projects in the difficult terrain of union territories of Jammu & Kashmir and Ladakh and they, thus, believe that they have developed the expertise and know-how to undertake infrastructure construction projects in difficult terrains.
Their Company has emerged as a key player in the infrastructure construction industry in the Union Territories of Jammu & Kashmir and Ladakh and has developed technical capabilities to execute projects in hilly/ challenging terrain in the region.
They are an ISO 9001:2015 certified company and are also registered as a class A contractor with the Public Work (R&B) Department, Jammu & Kashmir. They are pre-qualified to bid independently on projects, tendered by departments of governmental authorities and other entities funded by the GoI.
SRM Contractors IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 16,886.87 | 13,736.19 | 12,021.59 | 11,246.95 |
| *Total Revenue | 24,227.63 | 30,065.09 | 26,550.88 |
16,194.74
|
| Total Expense | 21,411.78 |
27,560.23
|
24,221.40
|
15,111.44
|
| Profit After Tax | 2,107.11 |
1,874.62
|
1,756.77
|
827.28
|
Earnings per Equity Share (in Lakhs)
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
12.58
|
90.82
|
1,154.10
|
543.47
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,874.62 Lakh, Rs. 1,756.77 Lakh and Rs. 827.28 Lakh respectively.
SRM Contractors IPO – Promoters
The Promoter of this company is:
- SANJAY MEHTA,
- ASHLEY MEHTA
- PUNEET PAL SINGH
List of Related Parties (Key Managerial Personnel)
-
Sanjay Mehta, Managing Director
- Ashley Mehta, Non-executive Director
- Puneet Pal Singh, Whole-time Director
- Sanjay Sharma, Independent Director
SRM Contractors IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post-Issue Share Holding – %
SRM Contractors IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 6,200,000 Equity Shares aggregating up to Rs.130.20 Crore |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Crore |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Crore |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,67,44,200 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
SRM Contractors IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
-
Funding capital expenditure requirements for the purchase of equipment/machineries
-
Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by their Company;
-
Funding the working capital requirements of their Company;
-
Investment in Project Specific Joint Venture Projects; and
-
General Corporate Purpose.
SRM Contractors IPO – Business Strategy
- Bid for, win and operate hybrid annuity model-based projects
-
Expansion of fleet of machinery and equipment
- Focus on rationalizing their indebtedness
-
Further, enhance their project execution capabilities
-
Develop and maintain strong relationships with their clients and project-specific joint venture partners
-
Leverage core competencies with enhanced in-house integration
SRM Contractors IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Proven track record of efficient execution of roads, tunnels and slope stabilisation works in the difficult terrain of union territory of Jammu and Kashmir.
- Business model of selecting and clustering of their projects in the union territories of Jammu & Kashmir and Ladakh.
- Continuous Focus on equipment ownership.
- Strong financial performance in the last three financial years.
- In-house integrated model.
- Experienced Promoters with a strong management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
90.82
|
29.68
|
37.72
|
| 31-Mar-22 |
85.11
|
39.55
|
– |
| Mar-21 |
40.08
|
30.81
|
– |
SRM Contractors IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| SRM Contractors Limited | 10 | [●] |
90.82
|
30.14
|
30,065.09 |
| Listed Peers | |||||
| Man Infra construction limited | 2 |
46.87
|
4.47
|
14.61
|
88,096.76
|
| ITD Cementation India Limited | 1 |
46.56
|
7.23
|
10.04
|
470058.03
|
SRM Contractors IPO Lead Managers
| Lead Managers |
| Interactive Financial Services Limited Office No. 508, Fifth Floor Priviera, Nehru Nagar Ahmedabad -380 015, Gujarat, India Tel: +91 079-4908 8019 / +91 9898055647 Email: mbd@ifinservices.in Investor Grievance Email:info@ifinservices.in Website:www.ifinservices.in Contact Person: Jaini Jain SEBI Registration No:INM000012856 |
SRM Contractors IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited Office No. S6-2, 6th Floor Pinnacle Business Park, Next to Ahura Center Mahakali Caves Road, Andheri East, Mumbai-400093 Tel: +91 22-6263 8200 Contact Person: Babu Rapheal C. Website: www.bigshareonline.com E-mail: ipo@bigshareonline.com SEBI Registration No.: INR000001385 Investor Grievance E-mail: investor@bigshareonline.com |
SRM Contractors IPO – Other Details
- Statutory Auditor – Satyendra Mrinal andAssociates, Chartered Accountants
- Legal Counsel to the Company – Vidhigya Associates, Advocates
- Bankers to the Company – ICICI BankLimited, HDFC Bank Limited, J&K Bank Limited and Yes Bank Limited
SRM Contractors IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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SRM Contractors Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
SRM Contractors IPO Review FAQs
Check out various FAQs related to SRM Contractors IPO:
What is the Issue Size of SRM Contractors IPO?
The Company is making an initial public offer of 6,200,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of SRM Contractors IPO?
The price band for this particular IPO ranges between Rs 200 to Rs 210. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the SRM Contractors IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on March 26, 2024, while the closing date is set at March 28, 2024.
What is the SRM Contractors IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on April 1, 2024, refund initiation is on April 2, 2024, credit of shares is on April 2, 2024, and share listing date is on April 3, 2024.
What is the SRM Contractors IPO Listing Date?
Shares of this company shall be listed in the exchanges on April 3, 2024. The date, when the listing would be done, is stagnant on April 3, 2024.
Who is the Registrar of SRM Contractors IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of SRM Contractors IPO?
Here are the promoters of this IPO – SANJAY MEHTA, ASHLEY MEHTA AND PUNEET PAL SINGH. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of SRM Contractors IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is SRM Contractors IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of SRM Contractors Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakhs is 1,874.62, 2022 is 1,756.77, and 2021 is 827.28. PAT from Dec 2023 is 2,107.11.
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