SRM Contractors IPO to Open on March 26, 2024: Check Details

The construction and development company SRM Contractor Ltd is coming up with an Initial Public Offering (IPO), which will open from March 26, 2024 to March 28, 2024. The allotment for the SRM Contractors IPO is likely to be finalised on April 1, 2024. The company will be listed on BSE and NSE on April 3, 2024. Through this IPO, SRM Contractors Ltd is seeking to raise up to ₹130.20 crore. SRM Contractor IPO is a 100% fresh issue, whereby the company will issue 62,00,000 shares.

The price band for the SRM Contractors IPO has been set at ₹200 to ₹210 per share. The minimum investment for the retail investor is ₹14,700, comprising one lot of 70 Shares. The minimum lot size investment for Small High Net Worth Investors (sNII) is 14 lots (980 shares), amounting to ₹205,800, and for Big High Net Worth Investors (bNII), it is 69 lots (4,830 shares), amounting to ₹1,014,300.

Objective of SRM Contractors IPO

The purpose IPO are mentioned below:

• Funding capital expenditure requirements for the purchase of equipment/machinery;
• Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company;
• Funding the working capital requirements of the company;
• Investment in Project Specific Joint Venture Projects; and
• General Corporate Purpose.

About SRM Contractors Limited

SRM Contractors Limited is a construction and development company, which is mainly involved in the construction of roads (including bridges), tunnels, slope stabilisation works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh. The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects.

Why Invest In SRM Contractors IPO?

• SRM Contractors has a proven track record of efficient execution of roads, tunnels, and slope stabilisation works in the difficult terrain of the union territory of Jammu and Kashmir.
• The company has completed 37 infrastructure construction projects with a total contract value of ₹77,088.00 lakhs, including 31 road construction projects, 3 tunnel projects, 1 slope stabilisation project, and 2 miscellaneous construction works as of March 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.