SRM Contractors sets IPO price band at Rs 200-210 per share; issue to open on March 26

Synopsis

SRM Contractors IPO volition unfastened for subscription connected March 26. The institution is looking to rise Rs 130 crore. It has acceptable the terms set of Rs 200-210 per stock for the IPO.

The archetypal nationalist connection (IPO) of SRM Contractors volition unfastened for subscription connected March 26 and adjacent connected March 28. The institution has fixed the terms set of Rs 200-210 for the upcoming stock sale.

Investors tin bid for 70 shares successful 1 lot. The institution plans to rise astir Rs 130 crore via the archetypal involvement sale.

The contented is being made done the book-building process, wherein 50% of the connection is reserved for qualified organization buyers, 15% for non-institutional investors and 35% for retail investors.

Net proceeds from the nationalist connection volition beryllium utilized for backing superior expenditure for the acquisition of equipment, afloat oregon portion repayment of debt, concern successful associated ventures, moving superior requirements and wide firm purposes.

SRM Contractors is an engineering operation and improvement institution engaged chiefly successful the operation of roads (including bridges), tunnels, slope stabilisation works and different miscellaneous civilian operation activities successful the national territories of Jammu and Kashmir and Ladakh.

Also Read: Krystal Integrated Services shares erase each listing gains. Should you clasp oregon sell?

The institution undertakes operation works some arsenic an EPC contractor and connected an item-rate ground for infrastructure projects. It besides does sub-contracting assignments for infrastructure operation projects.

SRM has a way grounds of palmy execution of road, passageway and slope stabilization projects successful the hard terrain of national territories of Jammu & Kashmir and Ladakh and it, thus, believes that it has developed the expertise and know-how to undertake infrastructure operation projects successful hard terrains.

Our institution has emerged arsenic a cardinal subordinate successful the infrastructure operation manufacture successful the Union Territories of Jammu & Kashmir and Ladakh and has developed method capabilities to execute projects successful hilly/ challenging terrain successful the region

In caller years, J&K has received a boost successful roadworthy infrastructure development, pursuing the government's enhanced absorption connected improving roadworthy infrastructure successful the region.

In FY23, the company's gross from operations accrued 13% to Rs 300 crore, portion nett aft taxation roseate 7% to Rs 18.74 crore. For the 9 months ended December 2023, revenues stood astatine Rs 242 crore and PAT came successful astatine Rs 20.17 crore.

Interactive Financial Services is the sole book-running pb manager for the IPO and Bigshare Services is the registrar.

...moreless

...moreless