SRM Contractors IPO Description – SRM Contractors is an engineering construction and development company primarily involved in constructing roads (including bridges), tunnels, slope stabilization works, and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh. The company undertakes construction works both as an EPC contractor and on an item-rate basis for infrastructure projects.
In the calendar year 2023, the organization is involved in the construction project named “Vijayak” (BRO) in the Union Territory of Ladakh. This project entails the realignment of road Zozila-Kargil-Leh (NH-1) between Pandrass-Pashkyum, with a net length of 27.10 km, to 2-lane specifications, with a total project cost of INR 205.68 crore.
SRM Contractors, both independently and through project-specific joint ventures, has completed 37 infrastructure construction projects with a combined contract value of INR 770.88 crore. These projects comprise 31 road projects, 3 tunnel projects, 1 slope stabilization works project, and 2 other miscellaneous civil construction activities. As of 30 September 2023, the company’s order book comprises 21 infrastructure construction projects.
The company’s major clients include the National Highways & Infrastructure Development Corporation Limited (NHIDCL) under the Ministry of Road Transport & Highways, Government of India, Konkan Railway Corporation Limited (KRCL), the Economic Reconstruction Agency (ERA, Jammu) under the Government of Jammu and Kashmir, the Border Road Organisation (BRO), the Rural Roads Development Agency (JKRRDA) in Jammu & Kashmir, and more.
Promoters of SRM Contractors – Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh
Table of Contents
SRM Contractors IPO Details
| SRM Contractors IPO Dates | 26 – 28 March 2024 |
| SRM Contractors Issue Price | INR 200 – 210 per share |
| Fresh issue | 6,200,000 shares (INR 124 – 130.20 crore) |
| Offer For Sale | NIL |
| Total IPO size | 6,200,000 shares (INR 124 – 130.20 crore) |
| Minimum bid (lot size) | 70 shares (INR 14,700) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
SRM Contractors Issue Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 160.06 | 263.61 | 300.29 | 234.55 |
| Expenses | 151.11 | 242.21 | 275.60 | 214.12 |
| Net income | 8.27 | 17.57 | 18.75 | 21.07 |
| Margin (%) | 5.17 | 6.67 | 6.24 | 8.98 |
SRM Contractors Offer News
- SRM Contractors IPO Review: 10 Key Points You Need to Know
- SRM Contractors RHP
- SRM Contractors DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
SRM Contractors Valuations & Margins
| | FY 2021 | FY 2022 | FY 2023 (Pre-Issue) | FY 2024 (Post-Issue)* |
| EPS | 4.94 | 10.49 | 11.20 | 12.24 |
| PE ratio | – | – | 17.86 – 18.75 | 16.33 – 17.15 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 30.81 | 39.55 | 29.68 |
| NAV | 16.03 | 26.53 | 37.72 |
| ROCE (%) | 31.17 | 42.16 | 35.04 |
| EBITDA (%) | 11.45 | 12.14 | 12.87 |
| Debt/Equity | 1.19 | 0.71 | 0.75 |
SRM Contractors IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 2 April 2024 | 117 | – | 3,200 |
| 1 April 2024 | 120 | – | 3,300 |
| 30 March 2024 | 117 | – | 3,200 |
| 29 March 2024 | 110 | – | 3,000 |
| 28 March 2024 | 100 | – | 3,000 |
| 27 March 2024 | 75 | – | 3,000 |
| 26 March 2024 | 55 | – | 3,000 |
| 23 March 2024 | 45 | – | 2,300 |
| 22 March 2024 | 35 | – | 1,800 |
| 21 March 2024 | 30 | – | 1,400 |
| 20 March 2024 | 30 | – | 1,300 |
SRM Contractors IPO Objectives
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding capital expenditure requirements for the purchase of equipment/machinery – INR 31.50 crore
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company – INR 10 crore
- Funding the working capital requirements of the company – INR 46 crore
- Investment in Project Specific Joint Venture Projects – INR 12 crore
- General Corporate Purpose
SRM Contractors IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,240,100 | 930,000 | 2,170,000 | 4,340,100 |
| 28 Mar 2024 | 59.59 | 214.88 | 46.74 | 86.44 |
| 27 Mar 2024 | 2.41 | 45.51 | 13.95 | 17.42 |
| 26 Mar 2024 | 1.57 | 6.26 | 3.55 | 3.56 |
SRM Contractors – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| SRM Contractors | 17.15 | 12.24 | 30.14 | 37.72 | 300.65 |
| Man Infraconstruction | 32.72 | 4.47 | 14.61 | 30.60 | 880.97 |
| ITD Cementation India | 31.32 | 7.23 | 10.04 | 72.04 | 4,700.58 |
| Likhitha Infrastructure | 20.19 | 15.22 | 24.01 | 63.39 | 358.62 |
| Udayshivakumar Infra | 12.37 | 2.90 | 11.13 | 26.05 | 287.91 |
SRM Contractors IPO Allotment Status
SRM Contractors IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
SRM Contractors IPO Dates & Listing Performance
| IPO Opening Date | 26 March 2024 |
| IPO Closing Date | 28 March 2024 |
| Finalization of Basis of Allotment | 1 April 2024 |
| Initiation of refunds | 2 April 2024 |
| Transfer of shares to demat accounts | 2 April 2024 |
| SRM Contractors IPO Listing Date | 3 April 2024 |
| Opening Price on NSE | INR 215.25 per share (up 2.5%) |
| Closing Price on NSE | INR 226 per share (up 7.62%) |
SRM Contractors IPO Reviews – Subscribe or Avoid?
Anand Rathi –
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities –
Choice Broking –
Elite Wealth – Apply for long term
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe for listing gain
Investmentz –
Jainam Broking – Neutral
DR Choksey –
Marwadi Financial –
Mehta Equities –
Motilal Oswal –
Nirmal Bang –
Reliance Securities –
Samco Securities – Not Rated
SBI Securities –
SMC Global – 2/5
Swastika Investmart –
Ventura Securities – Subscribe
SRM Contractors Offer Lead Manager
INTERACTIVE FINANCIAL SERVICES LIMITED
612, 6th Floor, Shree Balaji Heights, Kokilaben Vyas Marg,
Ellisbridge, Ahmedabad – 380 009, Gujarat, India
Phone: +91 079-46019796 / 98980 55647
Email: [email protected]
Website: www.ifinservices.in
SRM Contractors Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
SRM Contractors Contact Details
SRM CONTRACTORS LIMITED
Sector 3, Near BJP Head Office, Trikuta Nagar,
Jammu – 180012, Jammu and Kashmir, India
Phone: +91 84918 77114 / +0191 2472729
Email: [email protected]
Website: www.srmcpl.com
SRM Contractors IPO FAQs
How many shares in SRM Contractors IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for SRM Contractors Public Offer?
The best way to apply for SRM Contractors‘ public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is SRM Contractors IPO GMP today?
SRM Contractors IPO GMP today is INR 117 per share.
What is SRM Contractors’ kostak rate today?
SRM Contractors kostak rate today is INR NA per application.
What is SRM Contractors Subject to Sauda rate today?
SRM Contractors Subject to Sauda rate today is INR 3,200 per application.
