SRM Contractors Limited IPO Opens On March 26. Check IPO Details Issue Date Price


SRM Contractors Limited IPO Opens On March 26. Check IPO Details Issue Date Price

March 26, 2024
SRM Contractors Limited IPO Opens On March 26. Check IPO Details Issue Date Price

SRM Contractors Limited is coming out with a public issue to raise Rs 130.20 crores from the market.

Below are the details of the SRM Contractors Limited IPO:

  • Issue opens – March 26 (Tuesday)
  • Issue closes – March 28 (Thursday)
  • Issue size – Rs 130.20 crores
  • Price band – Rs 200 to 210 per equity share
  • Bid lot – 70 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

  • SRM Contractors Limited incorporated in September 2008 is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation 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. Company also undertakes sub-contracting assignments of infrastructure construction projects. 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 Rs. 30,000 lakhs and Rs. 50,000 lakhs for EPC contracts pertaining to construction of roads (including bridges) and for construction of tunnel respectively As a result of the growth of their road and tunnel construction business as well as the recent government initiatives and support to develop the infrastructure of union territories of Jammu & Kashmir and Ladakh, they have further forayed into executing other infrastructure projects such as standalone bridges, larger slope stabilisation works and other miscellaneous civil construction activities in order to capitalise on such rising opportunities. Recently, they have also been awarded with a contract for slope stabilization work in the state of Uttrakhand.
  • Over the years, They have acquired a fleet of modern construction machinery and equipment to support the construction activity of their projects. As on date of this Red Herring Prospectus, they own and hold 228 equipment and machineries comprising of over 100 major machineries and equipment such as boomers, shotcrete machines, batching plants, excavators, hot mix plants, ready mix concrete plant, stone crushing unit, compacters, among others. Their in-house integrated model of equipment management reduces dependence on third party suppliers for construction machinery and equipment and few of the material such as stones aggregates (due to availability of inhouse stone crushing unit) and other products and services required in the development and construction of their projects. They have also setup a central procurement team that procures major material and engineering items required for their projects. They believe that their integrated business model facilitates execution of their projects within scheduled timelines. They depend on their employees, both skilled and unskilled, to execute their projects. As on January 31, 2024, they have 275 employees comprising both skilled and on-site workers engaged in various projects.

Issue Size: Rs. 130.20 crores

Issue Break-Up:

QIB – 50% of the offer – Rs 65.10 crores

NIB – 15% of the offer – Rs 19.53 crores

RET – 35% of the offer – Rs 45.57 crores

Listing: BSE and NSE

Registrar: Bigshare Services Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Thursday, March 28, 2024

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