Srigee DLM shares to debut today. GMP signals a positive listing

Synopsis

Srigee DLM, specializing successful integrative injection molding, is acceptable to debut connected the BSE SME level pursuing a highly palmy IPO that was oversubscribed by 400 times. The IPO, priced astatine ₹94-₹99, saw beardown grey marketplace premium, suggesting a affirmative listing. The institution intends to usage the IPO proceeds to found a caller manufacturing installation and get machinery.

Srigee DLM, a design-led manufacturing institution specializing successful integrative injection molding and assembly services, is acceptable to debut connected the BSE SME level today. The company’s Rs 16.98 crore IPO, wholly a caller contented of 17.15 lakh shares, was priced successful the scope of Rs 94 to Rs 99 per share.

In the grey market, the company's shares are commanding a GMP of Rs 45. Given the beardown grey marketplace premium and the awesome subscription response, determination volition apt beryllium a affirmative listing show for Srigee DLM. The GMP suggests upwards of 40% listing premium implicit the contented price

The IPO witnessed robust demand, being oversubscribed by implicit 400 times. Among the assorted capitalist categories, the non-institutional capitalist (NII) conception saw a subscription of 1,136 times, retail investors subscribed 243 times, portion Qualified Institutional Buyers (QIBs) subscribed 137 times.

Such overwhelming involvement highlighted beardown capitalist assurance successful the company’s concern exemplary and maturation potential.

The institution plans to utilize the IPO proceeds to found a manufacturing installation successful Greater Noida, get machinery, and for wide firm purposes.

As a subordinate successful the niche design-led manufacturing sector, Srigee DLM is well-positioned to payment from the increasing request for customized integrative injection molding solutions crossed industries.

Market participants volition intimately ticker the listing to gauge capitalist sentiment and whether the banal tin prolong its grey marketplace momentum.

Company overview and financials

Srigee DLM is simply a design-led manufacturing institution specializing successful integrative injection molding and assembly services, catering to industries specified arsenic automotive, user electronics, and concern products. Headquartered successful Noida, the institution provides end-to-end solutions from merchandise plan to last assembly.

In FY24, Srigee DLM reported a gross of Rs 54.6 crore, with a nett net of Rs 3.1 crore.

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