Construction/Infra EPC - Listed on 03 April 2024
SRM Contractors (Construction/Infra EPC) closed its IPO window in 2024 and listed on NSE and BSE on 03 April 2024 at an upper band issue price of Rs 210, opening at Rs 215.25 for a listing gain of +31.0% and closing day one at Rs 226 (+7.6% on closing basis). The IPO was subscribed 86.57x overall - QIB 59.59x, HNI/NII 214.94x, Retail 46.97x. The total issue size was Rs 130.2 Cr (Fresh Issue Rs 0 Cr, OFS Rs 130.2 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Construction/Infra EPC
SRM Contractors operates in the Construction/Infra EPC space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The SRM Contractors issue was offered at an upper price of Rs 210 and raised approximately Rs 130.2 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 45 | +55.71% |
| Day 2 | Rs 55 | +57.14% |
| Day 3 | Rs 55 | +55.71% |
| Day 4 | Rs 75 | +52.38% |
| Day 5 | Rs 100 | +47.62% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the SRM Contractors IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
SRM Contractors IPO listed at +31.0% versus the upper issue price of Rs 210 on 03 April 2024.
SRM Contractors IPO was subscribed 86.57x overall. QIB portion was subscribed 59.59x, HNI / NII 214.94x and Retail 46.97x.
IPO GMP started at Rs 45 on Day 1 and moved to Rs 100 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.