SRM Contractors Limited will commence its initial public offering (IPO) on Tuesday, March 26, 2024, with the goal of raising Rs 130.20 crore. Interested investors can participate in the IPO until March 28, 2024.
The construction and development company has established the price range for the IPO at Rs. 200 to Rs. 210 per equity share.
The IPO of SRM Contractors Limited is open for subscription from March 26 until March 28, 2024.
The equity share price for the SRM Contractors Limited IPO has been established within the range of Rs.200 to Rs. 210.
The corporation's objective is to generate Rs 130.20 crore by means of this IPO, utilizing a completely new offering of 62 lakh shares.
The SRM Contractors Limited's Grey Market Premium(GMP) is presently trading at a premium of Rs 68 on the grey market, indicating a listing premium of approximately 32% above the issue price.
Investors have the opportunity to participate in the SRM Contractors Limited IPO by applying for shares in multiple lots, where each lot comprises 70 company shares. The share allocation for the IPO is anticipated to be finalized on April 1, 2024.
Bigshare Services Pvt Ltd is the registrar for the issue of SRM Contractors Limited IPO.
SRM Contractors Limited's shares are scheduled to be listed on stock exchanges on Wednesday, April 3, 2024.
The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
SRM Contractors Limited witnessed a notable surge in revenue, with a growth rate of 13.24%, while their profit after tax (PAT) experienced a commendable rise of 6.71% during the period spanning from March 31, 2022, to March 31, 2023.
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