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SRM Contractors IPO Details, Timeline, Price Band, Lot Size, Reservation 

The subscription period for SRM Contractors IPO, a Mainline IPO valued at ₹130.20 Cr, is set to open from March 26 to March 28, 2024. ₹130.20 Cr of new issues comprise the IPO. The price band is set at ₹200 to ₹210 per share, with a face value of ₹10. 

SRM Contractors IPO Details

The SRM Contractors IPO is an upcoming event in the financial market, set to open on March 26, 2024, and close on March 28, 2024. The shares will be listed on April 3, 2024. The price for the shares has been fixed in a band of ₹200 to ₹210 per share. 

The issue size is quite significant, with 6,200,000 shares being offered, which aggregates to about ₹130.20 Crores. Each share has a face value of ₹10. Investors interested in this IPO should note that the lot size is 70 shares, which means the minimum investment amount for retail investors stands at ₹14,700. 

This IPO comprises a fresh issue of equity shares and will be available for trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 

For those looking into this investment opportunity, it’s advisable to read the SRM Contractors IPO Draft Red Herring Prospectus (DRHP) for detailed information and to stay updated with the latest announcements. It’s also recommended to consult with a financial advisor to make an informed decision.

Which dates are important for the SRM Contractors IPO? 

The important dates for the SRM Contractors IPO are as follows:

  • IPO Open Date: March 26, 2024
  • IPO Close Date: March 28, 2024
  • Basis of Allotment: April 1, 2024
  • Initiation of Refunds: April 2, 2024
  • Credit of Shares to Demat: April 2, 2024
  • Listing Date: April 3, 2024

SRM Contractors IPO Details

SRM Contractors IPO Price Band

The SRM Contractors initial public offering (IPO) pricing band is ₹200–₹210 per share. The lead manager for the SRM Contractors IPO is Interactive Financial Services Ltd, and the registrar for the issue is Bigshare Services Pvt Ltd. These entities are responsible for managing the IPO process and ensuring compliance with regulatory requirements. 

SRM Contractors IPO Lot Size 

The lot size for the SRM Contractors IPO is 70 shares. This means that investors can bid for the IPO in multiples of 70 shares. The minimum number of shares an investor can bid for is one lot, or 70 shares. 

SRM Contractors IPO Reservation

The reservation for the SRM Contractors IPO is divided among different investor categories as follows:

  • Qualified Institutional Buyers (QIBs): Not more than 50.00% of the Net offer
  • Retail Individual Investors (RIIs): Not less than 35.00% of the Offer
  • Non-Institutional Investors (NIIs): Not less than 15.00% of the Offer

These reservations ensure a balanced allocation among various types of investors when the IPO shares are distributed.

What are the Objectives of SRM Contractors IPO? 

The objectives of the SRM Contractors IPO are as follows:

  • Capital Expenditure: To fund the capital expenditure of the company for purchasing machinery and equipment.
  • Loan Repayment: To fully or partially prepay or repay the loans owed by the company.
  • Project-Specific Joint Ventures: To fund the project-specific joint venture projects.
  • Working Capital: To fund the working capital requirements of the company.
  • General Corporate Purposes: To meet general corporate purposes.

SRM Contractors IPO Apply or Not? 

Deciding whether to apply for an IPO involves careful consideration of various factors, including the company’s financials, growth prospects, market conditions, and your own investment goals and risk tolerance. Here are some points to consider:

  • Company Profile: SRM Contractors Limited is engaged in construction and infrastructure development, with a focus on challenging terrains like Jammu & Kashmir and Ladakh. 
  • Financial Performance: Review the company’s financial statements, profitability, and growth metrics.
  • Market Conditions: Consider the current market sentiment and how it may affect the IPO.
  • Risk Assessment: Understand the risks associated with the construction sector and this particular IPO.
  • Investment Goals: Align the IPO with your long-term investment strategy.

It’s beneficial to look at the IPO’s subscription levels during the bidding process as an indicator of investor interest. Hence, company’s reputation suggests that it would be beneficial to invest. 

Remember, investing in IPOs carries inherent risks, and it’s important to do thorough research before making a decision. For the latest analysis and expert opinions on the SRM Contractors IPO, you can refer to financial news sources and analysis reports. 

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