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SRM Contractors IPO Details 2024

IPO Status: Listed [26th Mar 2024 to 28th Mar 2024]

Rated 3/5 by Team InvestorGain
SRM Contractors IPO Detail

SRM Contractors IPO, a Mainline IPO of ₹130.20 Cr was launced on 26-03-2024 to 28-03-2024 and the shares got listed on BSE, NSE on 03-04-2024.

The public issue of SRM Contractors IPO (SRM,544158) was offered at ₹210.00 per share and the ipo was listed at ₹215.25. It has delivered listing gain of 2.50%.

As the minimum lot size was 70 shares, the IPO has offered Rs 367.50 per lot return on listing.

SRM Contractors IPO Details

IPO Issue Opening Date: 26th Mar 2024
IPO Issue Closing Date: 28th Mar 2024
IPO Issue Price: ₹200.00-210.00 Per Share
DRHP: Download DRHP
RHP: Download RHP
Anchor List: Download Anchor List
IPO Listing At: BSE, NSE
Retail Quota: Not less than 35.00% of the Offer
IPO Issue Type: Book Build Issue
IPO Issue Size: ₹130.20 Cr
Fresh Issue: ₹130.20 Cr
Face Value: ₹10 Per Equity Share
IPO Discount: TBD
Promoter Holding Pre IPO: 99.92%
Promoter Holding Post IPO: 72.92%
Allotment Status: Allotment Status
BSE Code: 544158

SRM Contractors IPO Important Dates

Get important updates regarding SRM Contractors IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.

SRM Contractors IPO dates
IPO Activity Date
Basis of Allotment Date* 1st Apr 2024
Refunds Initiation* 2nd Apr 2024
Credit of Shares to Demat* 2nd Apr 2024
IPO Listing Date* 3rd Apr 2024

* - Tentative Dates

SRM Contractors IPO Lots

IPO Activity Date
Issue Price ₹200.00-210.00
Market Lot: 70 Shares
1 Lot Amount: ₹14700
Min Small HNI Lots(2-10 Lakh): 980 shares (14 lots)
Min Big HNI Lots(10+ Lakh): 4830 shares (69 lots)

SRM Contractors IPO GMP**

GMP DateIPO PriceGMPSub2 Sauda RateExpected Listing GainLast Updated
03-04-2024210.00703700/51800₹280 (33.33%)3-Apr-2024 10:30
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**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.

About Company - SRM Contractors

SRM Contractors Limited was founded in September 2008. The company is a construction and development company primarily engaged in construction of roads (including bridges), tunnels, slope stabilisation works and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh. The company undertakes construction works both as an EPC contractor and on unit price basis for infrastructure projects. The company also acts as a sub-contractor for infrastructure construction projects.

The Company has a track record of successful execution of road, tunnel and slope stabilisation projects in difficult terrains in the Union Territories of Jammu and Kashmir and Ladakh and therefore believes that it has the requisite experience and expertise to undertake infrastructure construction projects in difficult terrains. Your Company has emerged as a major player in infrastructure construction in the Union Territories of Jammu and Kashmir and Ladakh and has the technical capabilities to undertake projects in hilly/difficult terrain in the region.

As an EPC contractor, the company's scope of work includes detailed design of the project, procurement of construction materials, plant and machinery, construction and execution of the project and operation and maintenance as per contractual provisions. Thank you to their personnel, equipment, machinery and technical know-how, we are able to carry out a large number of projects simultaneously. We are convinced that their equipment, the quality of their work and their ability to carry out projects have enabled us to improve relationships with existing customers and win further projects from new customers.

SRM Contractors IPO Strengths

  • Proven track record of efficient execution of roads, tunnels and slope stabilisation works in the difficult terrain of the Union Territory of Jammu and Kashmir.
  • Efficient business model for selection and execution of projects in the Union Territories of Jammu and Kashmir and Ladakh.
  • Continued focus on equipment ownership.
  • Strong financial performance.
  • Internally integrated model.
Incorporation Sector IPO Issue Size Website
2008 Civil Construction ₹130.20 Cr

SRM Contractors IPO Objective

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
  1. Funding capital expenditure requirements for the purchase of equipment/machinery;
  2. Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company;
  3. Funding the working capital requirements of the company;
  4. Investment in Project Specific Joint Venture Projects; and
  5. General Corporate Purpose.
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SRM Contractors IPO Live Subscription (NSE + BSE)

The table below is live update of IPO bidding details from NSE and BSE.

  • Qualified Institutional Buyers: 1,240,100 Shares
  • Non-Institutional Investors: 930,000 Shares
  • Retail Individual Investor: 2,170,000 Shares
IPO Bidding Live Updates from BSE + NSE
 # of Shares Offered1,240,100 (28.57%)930,000 (21.43%)2,170,000 (50%)4,340,100
126th Mar 2024 19:041.57x6.32x3.70x3.65x
227th Mar 2024 19:042.41x45.70x14.21x17.58x
328th Mar 2024 19:0459.59x214.94x46.97x86.57x

SRM Contractors Limited Financial Information (Restated Consolidated)

SRM Contractors Limited's revenue increased by 13.24% and profit after tax (PAT) rose by 6.71% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax21.0718.7517.578.27
Net Worth37.2463.1644.4126.85
Reserves and Surplus67.4846.4142.8925.32
Total Borrowing42.3247.1631.5231.96
Amount in ₹ Crore

SRM Contractors IPO Peer Comparison

The table below show peer comparison from DRHP/RHP.

CompanyEPS BasicEPS DilutedNAVP/E(x)RoNWFinancial statements
SRM Contractors Limited90.8290.8237.7230.14Consolidated
Man Infraconstruction Ltd.4.474.4730.646.8714.61Standalone
Itd Cementation India Ltd.7.237.2372.0446.5610.04Standalone
Likhitha Infrastructure Limited15.2215.2263.3917.4224.01Standalone
Udayshivakumar Infra Ltd2.92.926.0521.1711.13Standalone

Company Address

SRM Contractors Limited
Sector 3, Near BJP Head Office, Trikuta Nagar,
Jammu and Kashmir,Jammu and Kashmir-180012
Phone: +91 84918 77114
Email: [email protected]

SRM Contractors IPO Registrar

Bigshare Services Pvt Ltd
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis,Makwana Road,
Marol, Andheri(E), Mumbai - 400 059
Phone: +91-22-6263 8200
Email: [email protected]

SRM Contractors IPO Lead Manager

SRM Contractors IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for SRM Contractors? Should I apply in SRM Contractors IPO?

Last Updated on 07-Apr-2024 07:02:45


Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase SRM Contractors IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply SRM Contractors IPO with Zerodha.

Alternate approch to apply in SRM Contractors IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

SRM Contractors IPO Review and Important Updates

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Apply in SRM Contractors IPO online

To subscribe or apply in SRM Contractors IPO, you can use the following methods:

SRM Contractors IPO Applying Mode
Online Application3-in-1 Trading Account

If your broker is 3-in-1 service provider, you can apply in SRM Contractors IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment.

Online Application2-in-1 Trading Account

Brokers like Zerodha, TradeSmart Online provides access to applying in SRM Contractors IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

Online ApplicationASBA

This is one of the most popular mode of applying in SRM Contractors IPO. Most of the Syndicate Banks provide access to apply in SRM Contractors IPO via ASBA process. You must have your net banking access, DP ID information to apply in SRM Contractors IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account.

Offline ApplicationPhysical Form

You can apply in SRM Contractors IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

SRM Contractors IPO Review and Important Updates

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Applying in SRM Contractors IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download SRM Contractors IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

For more details on how to use UPI payment method to apply SRM Contractors IPO, please refer article >> Link

SRM Contractors IPO Review and Important Updates

Steps to download the online application form for SRM Contractors IPO

  • Step1:Click here.
  • Step2: Click on “Bid-cum Application Form Download
  • Step3: Above Step will open an online form.
  • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
  • Step5: Fill bid details - min 70 and max 910 shares (13 lots).
  • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
  • Step7: This will fill your application online and give you a pdf file.
  • Step8: Take a print of this document and go to your bank for UPI transactions.
  • Or

  • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

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SRM Contractors IPO is going to be list on 03-04-2024. NSE Code for SRM Contractors is SRM. BSE Code for SRM Contractors is 544158.

Other relevant questions:

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SRM Contractors IPO Allotment Date is 01-04-2024.

Other relevant questions:

SRM Contractors IPO share allotment date?SRM Contractors IPO allotment date?


User Reviews

7. asf Mar 25 2024 12:09:32 PM Reply
hi all, if i applied in HNI category.. how many lots i get... whats the actual thing happen in HNI category
7.1. Team Investorgain Mar 28 2024 11:37:19 AM
Hello Sir/Ma'am,
Read HNI IPO allotment process on the provided link;
6. Pirani Sumit Mar 23 2024 03:38:19 PM Reply
Must apply for long-term .profit is also increased from 112 CR to 137 CR .
Construction of roads bridges ,tunnel, slope
Roce is also 29.43 %which is good and debts to equity ratio is 0.5 which means almost no debt and this is total fresh issue
5. Kiran H R Mar 20 2024 11:11:25 AM Reply
I think there is a mistake in this section "About Company - SRM Contractors". Company name is mentioned "Popular Vehicles & Services Limited" instead of SRM Contractors.
4. Anil Kumar Sharma  Mar 18 2024 10:42:08 PM Reply
SRM Contractors IPO expected listing gain.
3. Hasmukh jain  Mar 18 2024 10:42:08 PM Reply
Please confirm SRM Contractors IPO GMP (grey market premium) and kostak.
2. Harishh kumar  Mar 18 2024 10:42:08 PM Reply
SRM Contractors IPO good or bad.
1. Iqbal Singh Mar 18 2024 10:42:08 PM Reply
SRM Contractors IPO whether to invest or not.