GMP of SRM Contractors Limited IPO starts increasing from now on
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SRM Contractors Limited IPO: SRM Contractors, a company specializing in construction in the difficult areas of Jammu and Kashmir and Ladakh of India, is bringing its IPO in the market. The company is trying to collect Rs 130.20 crore from the market. SRM Contractors has fixed its price band at Rs 200 to Rs 210 per equity share. The company is going to be listed on National Stock Exchange and Bombay Stock Exchange. There will be 62 lakh fresh issues in this Main Board IPO. Bids for this can be placed from 26 March 2024 to 28 March 2024. The allotment of shares will take place on April 1, 2024.
What are the details of IPO?
SRM Contractors have experience in working on highways, bridges, tunnels, slope stabilization projects. It was established in the year 2008. Interactive Financial Services Ltd is the book running lead manager of SRM Contractors IPO, while BigShare Services Pvt Ltd is the registrar to the issue. The company is going to purchase building material and machinery with the money deposited through IPO. Along with this, some money will also be used to repay the loan. It will also be used for increasing working capital and general corporate purposes.
Also Read: Interarch Building Products is coming up with IPO soon, the company has submitted documents to SEBI.
How much will have to be invested
An investor applying for IPO will have to apply for at least one lot. There will be 70 shares in one lot. This means that at least Rs 14,700 will have to be invested. Whereas, in NII category one has to invest in at least 14 lots, which means at least Rs 2,05,800 has to be invested. Whereas in BNII category, one will have to invest in at least 69 lots, for this one will have to invest at least Rs 10,14,300.
How much is GMP?
GMP has started growing rapidly even before it hit the market in IPO. It is trading at a premium of Rs 25 per share. However, GMP may increase or decrease till the time of listing.
When will the listing happen?
The listing of the company’s shares is likely to happen on BSE and NSE on April 3.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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