SRM Contractors IPO Review

 
SRM Contractors IPO Review

IPO Open Date: March 26, 2024

IPO Close Date: March 28, 2024

IPO Price: ₹200 to ₹210 per share

Lot Size: 70 Shares

Listing: April 3, 2024

SRM Contractors is scheduled to hit the market on March 26, 2024 and close on March 28, 2024. SRM Contractors plans to raise around ₹130.20 Cr through an IPO with a sale of up to 6,200,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

SRM Contractors, established in 2008, is a construction and development company specializing in infrastructure projects in the Union Territories of Jammu and Kashmir and Ladakh. The company operates as an EPC contractor and undertakes projects on a unit-price basis, focusing on road construction, tunnel projects, slope stabilization works, and other civil construction activities. Their expertise lies in the planning, design, and execution of various infrastructure projects, including roads, bridges, tunnels, embankment structures, government housing, drainage systems, irrigation, and flood protection works.

By March 2024, SRM Contractors Limited had successfully completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs. These projects encompassed a diverse range of initiatives, including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous civil construction works. Notably, the company independently managed 29 of these projects, while 8 were executed through project-specific joint ventures. Employing a dedicated team of 293 full-time specialists and workers as of September 15, 2023, SRM Contractors Limited continues to play a significant role in advancing infrastructure development in the region.

SRM Contractors


SRM Contractors IPO Details

SRM Contractors IPO opens on March 26, 2024, and closes on March 28, 2024. The Listing date for SRM Contractors IPO is on April 3, 2024. The price band for IPO is ₹200 to ₹210 per share and lot size of 70 Shares.

IPO DateMar 26, 2024 to Mar 28, 2024
Listing DateApril 3, 2024
Price₹200 to ₹210 per share
Lot Size70 Shares
Issue Size₹130.20 Cr
Face Value₹10 per share

SRM Contractors IPO Tentative Timetable

SRM Contractors opening date is March 26, 2024 and close date is March 28, 2024. The IPO allotment date is April 01, 2024. The refund initiation of IPO is on April 02 2024. The credit of shares in demat account is on April 02, 2024. The listing date is on April 03, 2024.

EventDate
IPO OpeningMar 26, 2024
IPO ClosingMar 28, 2024
IPO Allotment DateApril 01, 2024
Refund InitiationApril 02, 2024
Shares Credit to DematApril 02, 2024
Lisiting DateApril 03, 2024

SRM Contractors IPO Lot Size

Lot Size of this IPO is 70 shares. A retail-individual investor can apply for up to 13lots (910 shares or ₹191,100).

CategoryLotsSharesAmount
Retail(Minimum)170₹14,700
Retail(Maximum)13910₹191,100
S-HNI (Minimum)14980₹205,800
B-HNI (Minimum)694,830₹1,014,300

SRM Contractors IPO Promoter Holding

Pre Issue Share Holding99.92%
Post Issue Share Holding

SRM Contractors IPO Review

SRM Contractors's recent IPO has been a topic of interest in the market, boasting a market capitalization of Rs 481.83 Cr. The company's financial performance showcases a positive trajectory, with a notable 13.24% increase in revenue and a 6.71% growth in Profit After Tax (PAT) from the financial year ending March 31, 2022, to March 31, 2023. Key Performance Indicators as of March 31, 2023, reveal impressive figures such as a Return on Capital Employed (ROCE) of 35.04%, a Debt/Equity ratio of 0.75, Return on Net Worth (RoNW) standing at 29.68%, and a Price to Book Value (P/BV) ratio of 5.57. Additionally, the Pre-IPO and Post-IPO Earnings Per Share (EPS) along with Price to Earnings (P/E) ratios underpin the company's growth prospects.

For potential investors evaluating SRM Contractors Limited's IPO, the strong financial metrics and growth trends are key highlights to consider. With a robust ROCE of 35.04% and a healthy PAT margin of 6.24%, the company exhibits efficient capital management and profitability. The outlined objectives of the IPO, focusing on funding capital expenditure, debt repayment, working capital demands, and strategic investments in joint ventures, provide insight into the company's strategic direction for utilizing the raised capital. This IPO offers investors an opportunity to engage with a company displaying sound financial performance and clear objectives for future growth within the construction sector.

In conclusion, SRM Contractors's IPO signifies a compelling investment prospect for those seeking exposure to a company with strong financial fundamentals and strategic goals. The combination of revenue growth, profitability enhancements, and prudent capital allocation strategies showcased through key financial indicators and IPO objectives positions SRM Contractors Limited as an attractive choice for investors looking to participate in the construction industry's growth story. With a focus on value creation and sustainable development, SRM Contractors Limited's IPO presents an avenue for investors to partake in a promising venture poised for future success.

SRM Contractors IPO Subscription Status (Bidding Details)

Table not found

SRM Contractors IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

SRM Contractors IPO FAQs

What is SRM Contractors IPO?

SRM Contractors is issuing 6,200,000 equity shares with a face value of ₹10 each, totaling up to ₹130.20 Cr. The shares are being offered at a price of ₹200 to ₹210 each, with a minimum order quantity of 70 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When SRM Contractors IPO will open?

SRM Contractors will open on March 26, 2024 for QIB, NII, and Retail Investors.

When SRM Contractors IPO will end?

SRM Contractors will end on March 28, 2024.

What is SRM Contractors IPO Size?

SRM Contractors IPO size is 130.20 Cr.

What is SRM Contractors IPO Price Band?

SRM Contractors price band is ₹200 to ₹210 per share.

What is the SRM Contractors IPO Allotment Date?

SRM Contractors allotment date is April 01, 2024.

What is the SRM Contractors IPO Listing Date?

SRM Contractors listing date is April 03, 2024. The IPO is to be listed on BSE and NSE.

How to SRM Contractors IPO through Zerodha?

To apply for the IPO “SRM Contractors” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply SRM Contractors IPO through Upstox?

To apply for the IPO “SRM Contractors” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check SRM Contractors IPO Allotment Status?

For SRM Contractors IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is SRM Contractors IPO GMP?

You can check out here: SRM Contractors IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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