What you Must know about SRM Contractors IPO?
by 5paisa Research Team
22 Mar 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 03-Apr-24
- IPO Price Range ₹200
- Listing Price ₹225
- Listing Change 7.1 %
- Last Traded Price ₹175.6
- Current Change -16.4 %
SRM IPO Details
- Open Date 26-Mar-24
- Close Date 28-Mar-24
- Lot Size 70
- IPO Size ₹ 130.20 Cr
- IPO Price Range ₹ 200 to ₹ 210
- Min Investment ₹ 17000
- Listing Exchange BSE, NSE
- Basis of Allotment 01-Apr-24
- Refunds 02-Apr-24
- Credit to Demat Account 02-Apr-24
- Listing Date 03-Apr-24
SRM Contractors IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 26-Mar-24 | 1.57 | 6.31 | 3.66 | 3.63 |
| 27-Mar-24 | 2.41 | 45.65 | 14.15 | 17.55 |
| 28-Mar-24 | 59.59 | 214.94 | 46.97 | 86.57 |
SRM IPO Synopsis
SRM Contractors Limited IPO is set to open from 26th March to 28th March 2024. The company operates in the engineering construction and development sector. The IPO includes a fresh issue of 6,200,000 shares worth ₹130.20 cr. The share allotment date is 1st April 2024, and the IPO will be listed on 3rd April 2024 on the stock exchanges. The price band is set at ₹200 to ₹210 and the lot size is 70 shares.
Interactive Financial Services Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of SRM Contractors IPO:
● To fund the working capital expenditure to purchase machinery/equipment.
● To invest in Joint Venture Projects.
● To repay or pre-pay borrowings obtained.
● To fund working capital requirements.
● General Corporate Purpose.
About SRM Contractors
Established in 2008, SRM Contractors Limited is an engineering construction and development company. The company specialises in constructing roads, tunnels,
slope stabilisation works and other miscellaneous civil construction activities. It is a leading player in the Union Territories of Jammu & Kashmir and Ladakh. Along with working as an EPC contractor, SRM Contractors take sub-contacting assignments.
The company has an ISO 9001:2015 certification and is a class A contractor with the Public Work (R&B) Department, Jammu & Kashmir.
Some of the popular clientele of SRM Contractors are National Highways & Infrastructure Development Corporation Limited - Ministry of Road Transport & Highways, Government of India (NHIDCL), Konkan Railway Corporation Limited (KRCL), Government of Jammu and Kashmir Economic Reconstruction Agency (ERA, Jammu), Border Road Organisation (BRO), Public Work (R&B) Department, Jammu & Kashmir (PWD, J&K), Northern Railway, Irrigation & Flood Control Department, J&K, J&K Rural Roads Development Agency (JKRRDA).
Peer Comparison
● Man Infraconstruction Limited
● ITD Cementation India Limited
● Likhitha Infrastructure Limited
● Udayshivakumar Infra Limited
For More Information:
Webstory on SRM Contractors IPO
SRM Contractors Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 300.29 | 263.61 | 160.05 |
| EBITDA | 38.65 | 32.01 | 18.32 |
| PAT | 18.74 | 17.56 | 8.27 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 137.36 | 120.21 | 112.46 |
| Share Capital | 16.74 | 1.52 | 1.52 |
| Total Borrowings | 46.92 | 57.38 | 65.90 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 13.04 | 9.73 | 14.18 |
| Net cash from / (used in) investing activities | -18.86 | -5.94 | -13.25 |
| Net cash flow from / (used in) financing activities | 9.83 | -2.98 | 4.52 |
| Net increase (decrease) in cash and cash equivalents | 4.01 | 0.81 | 4.26 |
SRM IPO Key Points
-
Strengths
1. The company has a proven track record of efficient execution of roads, tunnels and slope stabilisation works in the union territory of Jammu and Kashmir.
2. It has a business model of focusing, selecting and clustering its projects in the Union Territory of Jammu and Kashmir and Ladakh, which is its strength.
3. It focuses on the timely delivery of quality infrastructure development and construction projects.
4. Its track record of good financial performance is a big plus.
5. The company has an in-house integrated model, which helps reduce dependency on third parties.
6. Skilled and experienced management team.
-
Risks
1. The business is concentrated in the Union Territory of Jammu & Kashmir and Ladakh.
2. The business is subject to seasonal and other fluctuations.
3. A majority of its revenues are derived from projects from government authorities.
4. It is a highly working capital-intensive business.
5. It has reported negative cash flow in the past.
SRM
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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SRM IPO FAQs
When does the SRM Contractors IPO opens and closes?
SRM Contractors IPO opens from 26th March to 28th March 2024.
What is the size of the SRM Contractors IPO?
The size of SRM Contractors IPO is ₹130.20 cr.
How to apply for the SRM Contractors IPO?
To apply for the IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the SRM Contractors IPO
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of SRM Contractors IPO?
The price band of SRM Contractors IPO is set at ₹200 to ₹210 per share.
What is the minimum lot size and investment required for the SRM Contractors IPO?
The minimum lot size of SRM Contractors is 70 shares and the minimum investment required to apply for the IPO is ₹14,000.
What is the allotment date of the SRM Contractors IPO?
The share allotment date of SRM Contractors IPO is 1st April 2024.
What is the SRM Contractors IPO listing date?
The SRM Contractors IPO will be listed on 3rd April 2024.
Who are the book runners for the SRM Contractors IPO?
Interactive Financial Services Limited is the book-running lead manager for SRM Contractors IPO.
What is the objective of SRM Contractors IPO?
SRM Contractors Limited will use the proceeds from the listing for:
● To fund the working capital expenditure to purchase machinery/equipment.
● To invest in Joint Venture Projects.
● To repay or pre-pay borrowings obtained.
● To fund working capital requirements.
● General Corporate Purpose.
Contact Details of SRM Contractors IPO
Contact Information
SRM Contractors Limited
Sector 3, Near BJP Head Office,
Trikuta Nagar, Jammu -180012
Phone: +91 84918 77114
Email: cs@srmcpl.com
SRM Contractors IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
SRM Contractors IPO Lead Manager
Interactive Financial Services Ltd.
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