SRM CONTRACTORS (MAINBOARD)
Mar 26, 2024 - Mar 28, 2024
| Price | ₹200 - ₹210 |
| Premium | ₹70 |
|---|---|
| Lot size | 70 |
| Allotment | Apr 1, 2024 |
| Listing | Apr 3, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 70 | 14700 | 31000 |
| sHNI | 14 | 980 | 205800 | 316 |
| bHNI | 69 | 4830 | 1014300 | 633 |
Last Updated as on 28-Mar-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1240100 | 73902710 | 59.59 |
| HNIs | 930000 | 199888570 | 214.93 |
| HNIs (10+L) | 620000 | 136751650 | 220.57 |
| HNIs (2-10L) | 310000 | 63136920 | 203.67 |
| Retail | 2170000 | 101915520 | 46.97 |
| Total | 4340100 | 375706800 | 86.57 |
| Total Application : 1,421,294 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹16.8 | @8% ₹19.2 | @9% ₹21.6 | @10% ₹24 | @11% ₹26.4 | @12% ₹28.8 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹88228 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Neomile Growth Fund - Series I | 905100 | 48.66% | 19.01 |
| SAINT CAPITAL FUND | 477400 | 25.67% | 10.03 |
| ASTORNE CAPITAL VCC - ARVEN | 477400 | 25.67% | 10.03 |
| Total | 1859900 | 100.00% | 39.06 |
SRM Contractors Limited, established in 2008, has emerged as a key player in the construction and development sector, specializing in infrastructure projects within the Union Territories of Jammu and Kashmir and Ladakh. Operating primarily as an EPC contractor and on a unit-price basis, the company undertakes a wide range of construction activities, including road construction, tunnel projects, slope stabilization works, and various other civil construction projects. With a comprehensive portfolio encompassing road realignment, widening, bridges, tunnel construction, slope stabilization, and miscellaneous civil works, SRM Contractors demonstrates versatility and expertise in delivering complex infrastructure solutions. As of March 2024, the company has successfully completed 37 infrastructure construction projects, including roads, tunnels, slope stabilization, and miscellaneous works, showcasing its track record of execution and delivery. With a dedicated workforce of 275 full-time employees, consisting of specialists and skilled workers, SRM Contractors remains committed to driving innovation, quality, and sustainable development in the region's infrastructure landscape.
SRM Contractors IPO Details
| Issue Size | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Fresh Issue | 6,200,000 shares (aggregating up to ₹130.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 16,744,200 |
| Share holding post issue | 22,944,200 |
SRM Contractors IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROCE | 29.43% | 35.04% | 42.16% |
| RONW | 25.02% | 34.85% | 49.30% |
| D/E | 0.50 | 0.75 | 0.71 |
| EPS (basic & diluted) | 12.58 | 90.82 | 85.11 |
| P/BV | 4.17 | ||
| P/E (Pre IPO) | 18.76 |
Company Financials
SRM Contractors Limited Financial Information (Restated)
SRM Contractors Limited's revenue increased by 13.24% and profit after tax (PAT) rose by 6.71% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Revenue | 242.28 | 300.65 | 265.51 | 161.95 |
| Profit | 21.07 | 18.75 | 17.57 | 8.27 |
| Net Worth | 37.24 | 63.16 | 44.41 | 26.85 |
| Reserves | 67.48 | 46.41 | 42.89 | 25.32 |
| Borrowing | 42.32 | 47.16 | 31.52 | 31.96 |
| Amount in ₹ Crore | ||||
Strength Factors
Proven Track Record of Efficient Execution: The Company has demonstrated a consistent track record of efficiently executing projects involving roads, tunnels, and slope stabilization works in the challenging terrain of the Union Territory of Jammu and Kashmir. This expertise underscores the company's capability to navigate complex geographical conditions and deliver high-quality infrastructure solutions.
Efficient Business Model: SRM Contractors employs an efficient business model focused on selecting and clustering projects within the Union Territories of Jammu and Kashmir and Ladakh. This strategic approach allows the company to optimize resources, streamline operations, and capitalize on synergies, ultimately enhancing project efficiency and profitability.
Strong Financial Performance: SRM Contractors boasts a history of strong financial performance, reflecting its ability to manage costs, generate revenue, and maintain profitability. This financial stability not only instills confidence among stakeholders but also provides the company with the necessary resources to invest in growth initiatives, pursue new opportunities, and withstand economic fluctuations.
Risk Factors
Concentration of Business in Union Territory of Jammu & Kashmir and Ladakh: The Company’s concentration of operations within the Union Territory of Jammu & Kashmir and Ladakh exposes it to risks stemming from economic, regulatory, and other changes specific to this region. Any adverse developments in these areas could significantly impact the company's business operations, financial performance, and overall viability.
Contingent Liabilities: The Company may have contingent liabilities that could potentially materialize, adversely affecting its financial condition and profitability. These liabilities pose uncertainties and financial risks, potentially requiring significant resources for resolution if they materialize.
Promoters' Personal Guarantees and Mortgaged Property: The issuance of personal guarantees and mortgage of property by the promoters in relation to debt facilities availed by the company introduces risks. Revocation of these guarantees or property mortgages could necessitate alternative forms of guarantee, repayment of amounts due, or termination of existing facilities, potentially impacting the company's financial stability and ability to access credit.
SRM Contractors IPO Lead Manager(s)
- Interactive Financial Services Ltd
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html