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Let’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

SRM Contractors IPOThey 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
    Total Expense 21,411.78
    Profit After Tax 2,107.11

    Earnings per Equity Share (in Lakhs)

    31-Dec-23 31-Mar-23 Mar-22 31-Mar-21
    Basic & Diluted

    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:


    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.[●]
    Net Issue to the Public Up to [●] Equity Shares aggregating up to Rs.[●]
    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:

    1. Funding capital expenditure requirements for the purchase of equipment/machineries
    2. Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by their Company;
    3. Funding the working capital requirements of their Company;
    4. Investment in Project Specific Joint Venture Projects; and
    5. 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.)

    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 [●]
    Listed Peers
    Man Infra construction limited 2
    ITD Cementation India Limited 1

    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
    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,
    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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      Asset Class ROI (Rs.) Profit (Rs.) Profit (%)
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