SRM Contractors IPO: GMP Today, Subscription Status, and Listing Date
Introduction
SRM Contractors Limited is a well-established player in the construction and infrastructure development industry. With a proven track record of successful projects, the company is now poised to enter the stock market through its Initial Public Offering (IPO).
The SRM Contractors Limited is all set to make its debut in the stock market with its Initial Public Offering (IPO). As investors eagerly await the listing, let’s delve into the details of this exciting opportunity.
Key Facts of SRM Contractors IPO
- IPO Date: March 26, 2024, to March 28, 2024
- Price Band: ₹200 to ₹210 per share
- 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)
- Listing Date: Wednesday, April 3, 2024
Subscription Status on last day
The SRM Contractors IPO has garnered significant interest from investors. Here’s a snapshot of the subscription status
- Retail Investors: The retail portion has been oversubscribed by 1.11 times on the first day itself.
- Non-Institutional Investors (NII): NII investors have shown strong interest, subscribing nearly 32 times.
- Institutional Buyers: Institutional participation stands at 9.7 times.
Grey Market Premium (GMP)
Unlisted shares of SRM Contractors Ltd are trading at a ₹100 premium in the grey market compared to the issue price. This means an expected listing gain of 47.61% from the public issue
