SRM Contractors IPO
SRM Contractors IPO — date, price band, lot size & details 2024
SRM Contractors listed on 3 Apr 2024 at ₹215.25, 2.5% above the ₹210 issue price.
SRM Contractors builds roads, bridges and tunnels and does slope stabilisation work, mainly in Jammu and Kashmir and Ladakh. Its total income was Rs 300.65 crore in FY2023.
Stock price
SRM Contractors is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 26 Mar 2024
- Close 28 Mar 2024
- Allotment 01 Apr 2024
- Refund/credit 02 Apr 2024
- Listing 03 Apr 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 28 Mar, 2024 |
|---|---|
| Price Band | ₹200 – ₹210 |
| Face Value | ₹10 |
| Lot Size | 70 Shares |
| Issue Size | ₹130.2 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 70 shares at the ₹210 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 70 | ₹14,700 |
| Retail (max) | 13 | 910 | ₹1,91,100 |
| S-HNI (min) | 14 | 980 | ₹2,05,800 |
| S-HNI (max) | 68 | 4,760 | ₹9,99,600 |
| B-HNI (min) | 69 | 4,830 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 161.95 crore in FY2021 to Rs 300.65 crore in FY2023.
- 02Profit after tax was Rs 21.07 crore in the nine months to 31 December 2023, above the full FY2023 figure.
- 03The pre-issue P/E was 18.76 at the upper band of Rs 210, based on EPS of Rs 11.20.
- 04The whole Rs 130.2 crore issue was fresh capital for equipment and working capital.
- 05The source puts return on net worth at 25.02%.
Risks · 5
- 01Work is concentrated in 2 Union Territories, Jammu and Kashmir and Ladakh, where weather and security can delay projects.
- 02Most contracts are with government bodies and won by bidding, with Rs 46.00 crore of the issue needed for working capital.
- 03Total borrowing was Rs 42.32 crore on 31 December 2023, and the source puts debt to equity at 0.50.
- 04The company is small, with total income of Rs 242.28 crore in the nine months to 31 December 2023.
- 05Promoters and the promoter group held 99.92% before the issue and 72.92% after it.
Three years of numbers
All figures in ₹ crore, as reported in the SRM Contractors offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Total Income | 242.28 | 300.65 | 265.51 | 161.95 |
| Profit After Tax | 21.07 | 18.75 | 17.57 | 8.27 |
| NET Worth | 84.23 | 63.16 | 44.41 | 26.85 |
| Reserves and Surplus | 67.48 | 46.41 | 42.89 | 25.32 |
| Total Borrowing | 42.32 | 47.16 | 31.52 | 31.96 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the SRM Contractors RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
SRM Contractors IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹11.20 | ₹12.24 |
| P/E Ratio (x) | 18.76 | 17.15 |
| Market Cap at Offer Price (₹ Cr) | ₹395.06 | ₹361.50 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹210 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹123.38 Cr of the issue is earmarked to named objects.
About the company
It works mainly in the Union Territories of Jammu and Kashmir and Ladakh, as an EPC contractor, on a unit-price basis and as a subcontractor on infrastructure projects.
Its road work includes realignment, widening, upgradation, restoration and strengthening of roads, bridges and highways and their maintenance. Its promoters are Sanjay Mehta, Ashley Mehta and Puneet Pal Singh.
The IPO was Rs 130.2 crore and was entirely fresh issue. Rs 46.00 crore was planned for working capital, Rs 31.50 crore for equipment and Rs 12.00 crore for a joint venture project.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
SRM Contractors IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Interactive Financial Services Ltd.
6 issues handled (2 mainboard, 4 SME)Best listing: Anlon Healthcare (+1.1%). Weakest: Shree Ram Twistex (-34.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of SRM Contractors?
The current Grey Market Premium is ₹117, or 56% over the issue price.
What is the SRM Contractors IPO price band?
₹200 to ₹210, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 April 2024, with listing on 3 April 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
