IPO

SRM Contractors Limited IPO

Mainboard

Civil Construction

Listed On: Apr 3, 2024 at ₹ 215.25(NSE)

₹ 14700 /70 Shares

Check Allotment

26 Mar, 2024

Open Date

28 Mar, 2024

Close Date

01 Apr, 2024

Allotment Date

03 Apr, 2024

Listing Date
Price Summary

Last Closing

550.00 (161.9%)

52 Week High

649.95

52 Week Low

287.05

Last Update

18-Dec-2025 3:30 PM
SRM Contractors Limited IPO Issue Details
  • Issue Price ₹200-210 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 62,00,000 shares(aggregating up to ₹130.2 crore)
  • Fresh Share 62,00,000 shares(aggregating up to ₹130.2 crore)
  • Listing at BSE, NSE
  • List Price 215.25(NSE)
  • Listing Date 2024-04-03
  • Lead Manager Interactive Financial Services Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 70 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 70 ₹14,700
Retail(max) 13 910 ₹1,91,100
SHNI(min) 14 980 ₹2,05,800
SHNI(max) 68 4,760 ₹9,99,600
BHNI(min) 69 4,830 ₹10,14,300
SRM Contractors Limited IPO Reservation

SRM Contractors Limited IPO offers total 6,200,000 shares. Out of which 1,240,100 (20%) allocated to QIB, 930,000 (15%) allocated to NII,2,170,000 (35%) allocated to RII, NA (NA%) allocated to employees and 1,859,900 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 1,859,900 (30%)
QIB Shares Offered 1,240,100 (20%)
NII (HNI) Shares Offered 930,000 (15%)
bNII > ₹10L 620,000 (10%)
sNII < ₹10L 310,000 (5%)
Retail Shares Offered 2,170,000 (35%)
Total Shares Offered 6,200,000 (100%)
SRM Contractors Limited IPO Documents
DRHP
ANCHOR
SRM Contractors Limited IPO Details


SRM Contractors Limited IPO is a book-built issue of ₹130.2 crores, The total issue size is ₹130.2 crores. The IPO of SRM Contractors Limited is priced at ₹200-210 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Mar 26, 2024 and ends on Mar 28, 2024. The allotment for SRM Contractors Limited IPO will be finalized on Apr 1, 2024. SRM Contractors Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Apr 3, 2024. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 70 shares, extendable to 14,700. S-HNIs will be able to bid for 980 shares at ₹2,05,800, while B-HNIs can also apply for a bid of 4,830 shares at ₹10,14,300. The book-running lead manager for the IPO is/are Interactive Financial Services Ltd.

The total issue ₹130.2 crore, comprising a fresh issue of 62,00,000 shares ₹130.2 crore
The SRM Contractors Limited IPO sets its price band at 200-210 for each share. A single application for SRM Contractors Limited IPO must contain at least 70 shares. Sentiment investors need to invest a minimum of 70 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,700 In order to participate in the sNII, investors must purchase at least 14 lots of 980 shares for ₹2,05,800, while the bNII requires 69 lots of 4,830 shares for an investment of ₹10,14,300.

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SRM Contractors Limited IPO Subscription Analysis And Details
Retail
46.97x
QIB
59.59x
NII
214.94x
bNII
220.57x
sNII
203.67x
Total
86.57x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 1,240,100 930,000
620,000    310,000 		2,170,000 4,340,180
Day 1 26-03-24 05:00 PM
1.57 x 6.25
5.09 x   8.57 x 		3.52 x 3.55 x
Day 2 27-03-24 05:00 PM
2.40 x 44.65
41.41 x   51.13 x 		13.70 x 17.10 x
Day 3 28-03-24 05:00 PM
59.59 x 214.94
220.57 x   203.67 x 		46.97 x 86.57 x
Total No of Applications
14,21,306
SRM Contractors Limited Valuations
EPS Pre IPO ₹11.2/-
EPS Post IPO ₹12.24/-
P/E Pre IPO 18.76
P/E Post IPO 17.15
ROCE 29.43%
Debt/Equity 0.50
RoNW 25.02%
PAT Margin 8.98
Price to Book Value 4.17
SRM Contractors Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 137.36 120.22 112.47
Revenue 300.65 265.51 161.95
Profit After Tax 18.75 17.57 8.27
Net Worth 63.16 44.41 26.85
Reserves & Surplus 46.41 42.89 25.32
Total Borrowing 47.16 31.52 31.96
About SRM Contractors Limited Company

SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh.

The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects.

The company has these major business verticals:
Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh.
Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh.
Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work.
Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work.

As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects,3 tunnel projects,1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.

As on September 15,2023, the company employed 293 full-time employees, consisting of specialists and workers.

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SRM Contractors Limited - Promoter(s)

Sanjay Mehta

Ashley Mehta

Puneet Pal Singh

Pre Issue Share Holding : 99.92%

Post Issue Share Holding : 72.92%

SRM Contractors Limited IPO - Issue Objectives
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

5

General Corporate Purpose.

SRM Contractors Limited IPO - Anchor Investors

SRM Contractors mobilises Rs 39 crore from anchor investors ahead of IPO.

Neomile Growth Fund - Series I was the largest institutional investor in the anchor book, picking 9.05 lakh equity shares worth Rs 19 crore, while Saint Capital Fund, and Astorne Capital VCC - Arven bought 4.77 lakh equity shares each worth Rs 10 crore.

SRM Contractors Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
SRM Contractors Limited 90.82 90.82 37.72 N/A 30.14 5.57 Consolidated
Man Infraconstruction Ltd. 4.47 4.47 30.6 46.87 14.61 4.78 Standalone
Itd Cementation India Ltd. 7.23 7.23 72.04 46.56 10.04 3.14 Standalone
Likhitha Infrastructure Limited 15.22 15.22 63.39 17.42 24.01 4.85 Standalone
Udayshivakumar Infra Ltd 2.9 2.9 26.05 21.17 11.13 1.38 Standalone

Notes:

  1. The P/E Ratio has been computed based on the closing market price of equity shares on BSE on September 15, 2023, divided by the Diluted EPS.
  2. Return on net worth is calculated as Net profit after tax, as restated, attributable to the owners of the Company for the year divided by the Net worth of the Company.
  3. Net Asset Value per equity share represents net worth attributable to the Equity Shareholder (Equity Share capital together with other equity as per Restated Financial Information) as at the end of the financial year divided by the number of Equity Shares outstanding at the end of the year.
  4. The basic and diluted earnings per share for the Equity Shares of our Company have been presented to reflect the adjustments of bonus shares issued during the financial year ended March 31, 2023 in accordance with Ind AS 33-Earning per share.
  5. Considering the nature and size of the business of the Company the peers are not strictly comparable. However, the above company is included for broad comparison.
  6. CMP of the peer group as of September 15, 2023 is as per the closing price as available on www.bseindia.com.
  7. The P/E Ratio for the peer has been computed based on the closing market price of respective equity shares as on September 15, 2023, sourced from the website of the Stock Exchange as divided by the Basic/diluted EPS as applicable.
Contact Details

SRM Contractors Limited

Sector 3, Near BJP Head Office, Trikuta Nagar, Jammu -180012

+91 84918 77114

cs@srmcpl.com

https://srmcpl.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html