Categories: BusinessNews

Better listing of SRM Contractors IPO, profit of 11.43%

SRM Contractors IPO Listing: Shares of SRM Contractors, a company that builds roads and pools in the difficult areas of Jammu and Kashmir and Ladakh of India, have been listed on the Bombay Stock Exchange and National Stock Exchange today. The company has got excellent listing in the stock market. It has been listed on BSE at Rs 225. Whereas, its entry on NSE has been made at Rs 215. That means investors have got a profit of about 7 percent at the time of listing. After listing, the company’s stock jumped to Rs 234 on BSE. Due to this, the profit of investors increased to 11.43 percent. Let us tell you that the IPO was oversubscribed by 86 times on the last day of bidding. Considering the premium on the company’s shares in the gray market, the possibility of its better listing was already being expressed.

what does the company do

SRM Contractors have experience in working on highways, bridges, tunnels, slope stabilization projects. It was established in the year 2008. Interactive Financial Services Ltd is the book running lead manager of SRM Contractors IPO, while BigShare Services Pvt Ltd is the registrar to the issue. The company is going to purchase building material and machinery with the money deposited through IPO. Along with this, some money will also be used to repay the loan. It will also be used for increasing working capital and general corporate purposes.

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How is the company’s performance?

The performance of the company is much better. In the financial year 2021, SRM Contractors had a net profit of Rs 8.27 crore. Which increased to around Rs 17.57 crore in the year 2022. Whereas, in the last financial year the company has earned a profit of Rs 18.75 crore. During this period, the revenue value of the company has increased at a compound growth rate of more than 36 percent to Rs 300.65 crore. Whereas, by the December quarter of the financial year 2023-24, the company’s profit had crossed Rs 21 crore.
(Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, take complete information from a good financial advisor. We are not motivating to invest in any company.)


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