IPO Details

Bidding Dates

25 Mar '24 - 27 Mar '24

Minimum Investment

₹ 14,700 / 1 Lot ( 70 Shares )

Price Range

₹200 - ₹210

Maximum Investment

₹ 191,100 / 13 Lot ( 910 Shares )

Retail Discount

Not Applicable

Issue Size

130.20 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)   |  

IPO Dates

Important dates with respect to IPO allotment and listing

Anchor Date

Mar 24, 2024

Opening Date

Mar 25, 2024

Closing Date

Mar 27, 2024

Basis of Allotment

Mar 31, 2024

Initiation of Refunds

Apr 1, 2024

Credit of Shares to Demat

Apr 1, 2024

Listing Date

Apr 2, 2024

Cut-off time for UPI mandate confirmation

Mar 18, 2024

SRM Contractors IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Mar 25, 2024

 1.57x 6.32x 3.70x 3.65x

Day 2Mar 26, 2024

 2.41x 45.53x 13.97x 17.43x

SRM Contractors IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutional Buyers 35.42
Non-Institutional Buyers 174.45
Retail Investors 38.19
Total 66.60

About SRM Contractors Limited

Incorporated in September 2008, SRM Contractors Limited is an engineering, construction, and development company that is mainly involved in the construction of tunnels, roads, slope stabilisation, and other various civil construction activities in Ladakh and the Union Territories of Jammu and Kashmir. The company undertakes construction work as an EPC contractor and on an item-rate basis for infrastructure projects. They also take on sub-contracting assignments for infrastructure projects.

The company is ISO 9001:2015 certified and registered as a class A contractor with the Public Work (R&B) Department, Jammu & Kashmir. They are pre-eligible to bid independently on projects tendered by government departments and other government-funded entities. The contract value is up to ₹30,000 lakh for EPC contracts (roads and bridges) and ₹50,000 lakh for tunnel construction.

As of March 2024, the organisation has completed a total of 37 projects related to infrastructure development, amounting to a contract value of ₹77,088.00 lakhs. This portfolio includes 31 projects focused on road development, 3 tunnel constructions, a single project aimed at stabilising slopes, and 2 other construction endeavours of various natures.

Out of these 37 initiatives, the company has independently handled 29, including sub-contractual work, while the remaining 8 were managed through collaborations in project-specific joint ventures.

By January 31, 2024, the firm's workforce comprised 275 dedicated full-time employees, including specialists and general workers.

Industry Outlook

The road sector in India is experiencing notable growth and can grow further. The government is planning to spend about ₹17 trillion on the highway sector within the time frame of 2020 to 2025. With the government's support, these can be good opportunities for the company.

SRM Contractors Limited IPO Details

SRM Contractors Limited IPO Dates

The IPO of SRM Contractors Limited is open for subscription from March 26, 2024, to March 28, 2024.

SRM Contractors Limited IPO Price Band

SRM Contractors Limited’s IPO is a fresh issue IPO of up to ₹130.20 crore. It is a book-building issue. The price range is set to ₹200 to ₹210 per share.

SRM Contractors Limited IPO Lot Size

The lot size for SRM Contractors Limited’s IPO is 1,200 shares with a minimum investment of ₹1,15,200.

SRM Contractors Limited IPO Objectives

The objectives of SRM Contractors Limited's IPO are listed below:

  • To fund the capital expenditure of the company to purchase machinery and equipment.
  • To fully or partially prepay or repay the loans owed.
  • To fund the project-specific joint venture projects.
  • To fund the working capital requirements of the company.
  • To meet general corporate purposes.

Peer Details

SRM Contractors Limited faces competition from publicly listed players like

  1. Man Infraconstruction Limited
  2. ITD Cementation India Limited
  3. Likhitha Infrastructure Limited
  4. Udayshivakumar Infra Ltd

How To Check the SRM Contractors Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the IPO Section and then to IPO Orders.
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.
Open a demat account with Angel One to apply for the SRM Contractors Limited IPO.

Contact Details of SRM Contractors Limited IPO

  • Registered office: Sector 3, Near BJP Head Office, Trikuta Nagar, Jammu-180012, Jammu and Kashmir, India.
  • Phone: +91 8491877114
  • E-mail: cs@srmcpl.com

IPO Financials

Particulars Period ended December 31, 2023 Period ending on March 31, 2023 Period ending on March 31, 2022 Period ending on March 31, 2021
Total Revenue (₹ in lakh) 24,227.63 30,065.09 26,550.88 16,194.74
Profit after Tax (₹ in lakh) 2107.11 1,874.62 1,756.77 827.28
Net Worth (₹ in lakh) 8423.19 6,316.07 4,441.47 2,684.70
Earnings Per Equity Share (in ₹) 12.58 90.82 1,154.10 543.47
Total Borrowings (₹ in lakh) 4,232.28 4,715.82 3,152.40 3,195.75

Know before investing

Strengths

2

  1. The company has a proven track record of road and tunnel construction in the difficult terrain of Jammu and Kashmir.

  2. The company primarily focuses on equipment acquisition.

Risks

2

  1. The business is focused in the Jammu & Kashmir and Ladakh regions and is exposed to risks arising from economic, regulatory, or other changes.

  2. The revenue of the company is highly dependent on government projects. Any changes in the policies can adversely impact the company’s revenue.

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SRM Contractors Limited IPO FAQs

What is SRM Contractors Limited's IPO?

SRM Contractors Limited IPO is a fresh issue of up to ₹130.20 Crore. It is a book-built issue. 

When will SRM Contractors Limited's IPO be allotted?

The SRM Contractors Limited’s shares will be allotted on April 2, 2024.

When will SRM Contractors Limited's IPO open for subscription?

The IPO subscription window for SRM Contractors Limited will open on March 26, 2024.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 70 shares, with a sum of ₹14,700.

When will SRM Contractors Limited list exchanges?

SRM Contractors Limited will be listed on BSE and NSE. The stock will be listed on April 3, 2024.

How do I check the allotment status of the SRM Contractors Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the SRM Contractors Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the SRM Contractors Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for SRM Contractors Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of SRM Contractors Limited using one PAN?

You can submit only one application using your PAN card.