SRM Contractors IPO Allotment To Be Finalised Today: Know How To Check Status, Latest GMP – News18

SRM Contractors IPO Allotment Status: The share allotment of the SRM Contractors IPO, which was open for public subscription between March 26 and March 28, will be finalised today evening (March 29). Investors will start receiving bank debit messages once they are allotted the IPO. They can also visit the registrar’s portal, Bigshare Services Pvt Ltd, to check the IPO allotment status.

The Rs 130.20-crore IPO has received 86.57 times subscription, garnering bids for 37,57,09,530 shares against 43,40,100 shares on offer. The IPO will be listed on the BSE and NSE on April 3.

SRM Contractors IPO: How To Check Allotment Status

Once the IPO allotment is finalised, the status can be checked by following these steps:

1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type’, select ‘Equity’.

3) Under ‘Issue Name’, select ‘SRM Contractors Limited’ in the dropbox.

4) Enter your application number, or the Permanent Account Number (PAN).

5) Then, click on the ‘I am not a robot’ to verify yourself and hit the ‘Search’ option.

Your share application status will appear on your screen.

You can also visit the direct Link Intime portal — https://www.bigshareonline.com/ipo_Allotment.html and check the SRM Contractors IPO allotment status.

SRM Contractors IPO GMP Today

According to market observers, unlisted shares of SRM Contractors Ltd are trading Rs 125 higher in the grey market as compared with its issue price. The Rs 125 grey market premium or GMP means the grey market is expecting a 59.52 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

SRM Contractors IPO Details

The initial public offering (IPO) of fresh issue of up to 62,00,000 equity shares had a price range of Rs 200-210 a share. SRM Contractors mopped up Rs 39 crore from anchor investors on Friday.

The firm 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, as per its website.

The company was incorporated in September 2008.

Interactive Financial Services is the manager to the offer.

The minimum amount of investment required by retail investors was Rs 14,700. The minimum lot size investment for small NII was 14 lots (980 shares), amounting to Rs 2,05,800, and for big NII, it was 69 lots (4,830 shares), amounting to Rs 10,14,300.

Interactive Financial Services Ltd was the book-running lead manager of the SRM Contractors IPO, while Bigshare Services Pvt Ltd was the registrar for the issue.