SRM Contractors IPO GMP, Price, Date, Allotment

SRM Contractors IPO GMP

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.

SRM Contractors

Promoters of SRM Contractors – Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh

SRM Contractors IPO Details

SRM Contractors IPO Dates26 – 28 March 2024
SRM Contractors Issue PriceINR 200 – 210 per share
Fresh issue6,200,000 shares (INR 124 – 130.20 crore)
Offer For SaleNIL
Total IPO size6,200,000 shares (INR 124 – 130.20 crore)
Minimum bid (lot size)70 shares (INR 14,700)
Face Value INR 10 per share
Retail Allocation35%
Listing OnBSE, NSE

SRM Contractors Issue Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Net income8.2717.5718.7521.07
Margin (%)5.176.676.248.98
Figures in INR Crores unless specified otherwise

SRM Contractors Offer News

SRM Contractors Valuations & Margins

FY 2021FY 2022FY 2023 (Pre-Issue)FY 2024 (Post-Issue)*
PE ratio 17.86 – 18.7516.33 – 17.15
* Calculated on the basis of annualized Profits After Tax for FY 2024
FY 2021FY 2022FY 2023
RONW (%)30.8139.5529.68
ROCE (%)31.1742.1635.04
EBITDA (%)11.4512.1412.87
*Compiled by IPO Central from Prospectus

SRM Contractors IPO GMP Today (Daily Trend)

DateDay-wise IPO GMPKostakSubject to Sauda
2 April 20241173,200
1 April 20241203,300
30 March 20241173,200
29 March 20241103,000
28 March 20241003,000
27 March 2024753,000
26 March 2024553,000
23 March 2024452,300
22 March 2024351,800
21 March 2024301,400
20 March 2024301,300

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

Shares Offered1,240,100930,0002,170,0004,340,100
28 Mar 202459.59214.8846.7486.44
27 Mar 20242.4145.5113.9517.42
26 Mar 20241.576.263.553.56

SRM Contractors – Comparison With Listed Peers

CompanyPE ratioEPSRONW (%)NAVRevenue (Cr.)
SRM Contractors17.1512.2430.1437.72300.65
Man Infraconstruction32.724.4714.6130.60880.97
ITD Cementation India31.327.2310.0472.044,700.58
Likhitha Infrastructure20.1915.2224.0163.39358.62
Udayshivakumar Infra12.372.9011.1326.05287.91

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 Date26 March 2024
IPO Closing Date28 March 2024
Finalization of Basis of Allotment1 April 2024
Initiation of refunds2 April 2024
Transfer of shares to demat accounts2 April 2024
SRM Contractors IPO Listing Date3 April 2024
Opening Price on NSEINR 215.25 per share (up 2.5%)
Closing Price on NSEINR 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

612, 6th Floor, Shree Balaji Heights, Kokilaben Vyas Marg,
Ellisbridge, Ahmedabad – 380 009, Gujarat, India
Phone: +91 079-46019796 / 98980 55647
Email[email protected]

SRM Contractors Offer Registrar

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]

SRM Contractors Contact Details

Sector 3, Near BJP Head Office, Trikuta Nagar,
Jammu – 180012, Jammu and Kashmir, India
Phone: +91 84918 77114 / +0191 2472729
Email: [email protected]

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.


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