Get App
SRM Contractors IPO is a book-built issue of Rs 130.20 crores. The issue is entirely a fresh issue of 0.62 crore shares.
The IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. Further, the IPO price band is set at ₹200 to ₹210 per share, and the minimum lot size for an application is 70 Shares.
Company Summary
They are an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilization works, and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh.
They undertake construction works both as an EPC contractor and on an item-rate basis for infrastructure projects. Also, their Company undertakes sub-contracting assignments for infrastructure construction projects
They have further forayed into executing other infrastructure projects such as standalone bridges, larger slope stabilization works, and other miscellaneous civil construction activities to capitalize on such rising Opportunities
As an EPC contractor, the scope of their services includes detailed engineering of the project, procurement of construction materials, plant and machinery, construction and execution of the project, and its operation and maintenance following the contractual provisions.
Since incorporation, the Company, independently and through project-specific joint ventures, has completed thirty-eight (38) infrastructure construction projects having an aggregate contract value of ₹1,41,165.62 lakhs which includes thirty-two (32) roads projects, three (3) tunnel projects, one (1) slope stabilization works and two (2) other miscellaneous civil construction activities.
Company Strengths
They have a track record of successful execution of road, tunnel, and slope stabilization projects in the difficult terrain of union territories of Jammu & Kashmir and Ladakh, and they, thus, believe that they have developed the expertise and know-how to undertake infrastructure construction projects in difficult terrains.
They are pre-qualified to bid independently on projects, tendered by departments of governmental authorities and other entities funded by the GOI, of contract value up to ₹30,000 lakhs and ₹50,000 lakhs for EPC contracts of construction of roads (including bridges) and construction of tunnel respectively
They have also been awarded a contract for slope stabilization work in the state of Uttrakhand.
They believe that their resources, quality of work, and project execution skills have enabled them to enhance their relationships with existing clients and help them to further secure projects from new clients.
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Revenue | 242.28 | 300.65 | 265.51 | 161.95 |
| Profit After Tax | 21.07 | 18.75 | 17.57 | 8.27 |
| Net Worth | 37.24 | 63.16 | 44.41 | 26.85 |
| Reserves and Surplus | 67.48 | 46.41 | 42.89 | 25.32 |
| Total Borrowing | 67.48 | 47.16 | 31.52 | 31.96 |
Amount in ₹ Crore | ||||
Objectives of the Issue
- Funding capital expenditure requirements for the purchase of equipment/machines.
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company.
- Funding the working capital requirements of our Company.
- Investment in Project Specific Joint Venture Projects.
- General Corporate Purpose.
Promoters of the company
Sanjay Mehta, Ashley Mehta, and Puneet Pal Singh are the Promoters of our Company
IPO details
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹200 to ₹210 per share |
| Lot Size | 70 Shares |
| Total Issue Size | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Fresh Issue | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 70 | ₹14,700 |
| Retail (Max) | 13 | 910 | ₹191,100 |
| Small-HNI(Min) | 14 | 980 | ₹205,800 |
| small-HNI(Max) | 68 | 4760 | ₹999,600 |
| Large-HNI (Min) | 69 | 4830 | ₹1,014,300 |
Allotment Schedule
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| The credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
To check Allotment, click here