SRM Contractors Limited IPO Detail
Established in 2008, SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization 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.
The company has these major business verticals:
- Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh.
- Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh.
- Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work.
- Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work.
As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.
As on September 15, 2023, the company employed 293 full-time employees, consisting of specialists and workers.
Company Promoters
Sanjay Mehta, Ashley Mehta, and Puneet Pal SinghIPO Details
| IPO Opening Date | Mar 26, 2024 |
| IPO Closing Date | Mar 28, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹200 - 210 per equity share |
| Market Lot | 70 Shares |
| Min Order Quantity | 70 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹130.20 Cr |
| Fresh Issue | ₹130.20 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.57x | 8.79x | 5.09x | 6.32x | 3.70x | 3.65x |
| Day 2 | 2.41x | 52.66x | 42.21x | 45.70x | 14.21x | 17.58x |
| Day 3 | 59.59x | 203.67x | 220.57x | 214.94x | 46.97x | 86.57x |
IPO Tentative Timetable
The SRM Contractors Limited IPO open date is Mar 26, 2024, and the close date is Mar 28, 2024. The issue may list on Apr 03, 2024.
| IPO Open Date | Mar 26, 2024 |
| IPO Close Date | Mar 28, 2024 |
| Basis of Allotment Date | Apr 01, 2024 |
| Initiation of Refunds | Apr 02, 2024 |
| Credit of Shares to Demat Account | Apr 02, 2024 |
| IPO Listing Date | Apr 03, 2024 |
IPO Lot Size
The SRM Contractors Limited IPO market lot size is 70 shares. A retail-individual investor can apply for up to 13 lots (910 shares or ₹191100).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 70 | ₹14700 |
| Maximum | 13 | 910 | ₹191100 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.92% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 112.47 | 161.95 | 8.27 |
| 31-Mar-22 | 120.22 | 265.51 | 17.57 |
| 31-Mar-23 | 137.36 | 300.65 | 18.75 |
Objects of the Issue:
- 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.
SRM Contractors Limited IPO Registrar:
Bigshare Services Pvt Ltd
SRM Contractors Limited IPO Lead Manager(s):
Interactive Financial Services Ltd
Company Contact Information:
SRM Contractors Limited
Sector 3,
Near BJP Head Office,
Trikuta Nagar, Jammu -180012
