Status of SRM Contractors IPO Allotment:
This evening, March 29, the share allotment for the SRM Contractors IPO, which was available for public subscription between March 26 and 28, will be finalized. Once investors are assigned to the IPO, they will begin to receive bank debit notices. To find out the status of the IPO allotment, they can also go to the registrar’s webpage, Bigshare Services Pvt Ltd.
Bids for 37,57,09,530 shares vs the 43,40,100 shares on sale were received in the 86.57 times subscription for the Rs 130.20-crore initial public offering. On April 3, the IPO will go live on the BSE and NSE.
SRM Contractors’ Current IPO GMP:
Market watchers report that unlisted shares of SRM Contractors Ltd. are trading on the gray market for Rs 125 more than the company’s issue price. The grey market is anticipating a listing gain of 59.52 percent from the public issuance, as indicated by the Rs 125 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay over the issue price is shown by the “grey market premium.”
Details of SRM Contractors’ Initial Public Offering (IPO):
The pricing range for the new issue of up to 62,00,000 equity shares in the IPO was Rs 200–210 per share. On Friday, anchor investors gave SRM Contractors a cool Rs 39 crore.
According to its website, the company is an engineering construction and development company that operates mostly in the Union Territories of Jammu & Kashmir and Ladakh, building roads (including bridges), tunnels, slope stabilization projects, and other various civil construction activities.
September 2008 saw the incorporation of the business.
Offer manager Interactive Financial Services is in charge of the program.
Retail investors were required to make a minimum investment of Rs 14,700. The smallest lot size investment required for small NIIs was 14 lots (980 shares), or Rs 2,05,800, and the largest NIIs needed to invest 69 lots (4,830 shares), or Rs 10,14,300.
Bigshare Services Pvt Ltd served as the registrar for the SRM Contractors IPO, and Interactive Financial Services Ltd. was the book-running lead manager.
