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SRM Contractors IPO
Price Band
₹200.0–210.0
Issue Size
₹130.2 Cr
Lot Size
70 shares
Min Investment
₹14,700
GMP
+₹70.0 (33.33%)
Issue Price
₹210.0
Subject to Sauda
₹3700
Paid only if allotted
SRM Contractors IPO AI Summary
- SRM Contractors IPO is listed on BSE, NSE in the Civil Construction sector.
- Price band: ₹200.0–₹210.0 per share, lot size 70 shares (min. investment ₹14,700).
- Subscription window: 26 Mar–28 Mar 2024, listing on 03 Apr 2024.
- Current GMP is +₹70.0 (33.33%), an estimated listing price of ₹280 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
SRM Contractors IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 Mar 2024 — not a current signal.
6 of 8 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
SRM Contractors IPO Grey Market Premium (GMP) Today
GMP
+₹70.0
GMP %
+33.33%
Est. Listing
₹280.0
Updated: 25 Jul 2026 14:06
About the Company
Established in 2008, SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh. The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects. The company has these major business verticals: Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh. Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh. Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work. Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work. As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures. As on January 31, 2024, the company employed 275 full-time employees, consisting of specialists and workers.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 168.87 | 137.36 | 120.22 | 112.47 |
| Total Income | 242.28 | 300.65 | 265.51 | 161.95 |
| Profit After Tax | 21.07 | 18.75 | 17.57 | 8.27 |
| NET Worth | 37.24 | 63.16 | 44.41 | 26.85 |
| Reserves and Surplus | 67.48 | 46.41 | 42.89 | 25.32 |
| Total Borrowing | 42.32 | 47.16 | 31.52 | 31.96 |
Key Ratios
EPS
₹11.20
NAV
₹50.31
ROCE
29.43%
RoNW
25.02%
P/B Value
4.17
P/E Ratio
18.76
Market Cap
₹481.83 Cr
PAT Margin
8.98%
Debt/Equity
0.50
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Udayshivakumar Infra Ltd | 26.05 | 11.13% | 21.17 | 2.9 | 2.9 |
| Likhitha Infrastructure Limited | 63.39 | 24.01% | 17.42 | 15.22 | 15.22 |
| Itd Cementation India Ltd. | 72.04 | 10.04% | 46.56 | 7.23 | 7.23 |
| Man Infraconstruction Ltd. | 30.6 | 14.61% | 46.87 | 4.47 | 4.47 |
| SRM Contractors Limited This IPO | 37.72 | 30.14% | — | 90.82 | 90.82 |
Promoters
Sanjay Mehta, Ashley Mehta and Puneet Pal Singh
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure requirements for the purchase of equipment/machineries 31.50 2 Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company 10.00 3 Funding the Working Capital requirement 46.00 4 Investment In Joint Venture Project 12.00 5 General corporate purposes 23.88
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹161.95 Cr in the period ending 31 Mar 2021, increasing to ₹265.51 Cr by 31 Mar 2022, then rising further to ₹300.65 Cr by 31 Mar 2023. However, in the most recent period ending 31 Dec 2023, total income decreased to ₹242.28 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹8.27 Cr in the period ending 31 Mar 2021, rising to ₹17.57 Cr by 31 Mar 2022, and further increasing to ₹18.75 Cr by 31 Mar 2023. In the latest period ending 31 Dec 2023, profit after tax increased to ₹21.07 Cr, indicating a positive trend.
Valuation
At the issue price of ₹210.0, SRM Contractors has an implied P/E ratio of 18.76, compared to peer companies trading at P/E ratios ranging from 17.42 to 46.87.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO based on unofficial trading before it officially lists. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential and market conditions. It's important to consider the company's financial health and the overall economic environment.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it involves the uncertainties associated with new listings and the construction sector.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on March 26, 2024, and closes on March 28, 2024. Allotment of shares will be done by April 1, 2024, with the listing on the stock exchange scheduled for April 3, 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and influenced by various factors, including market sentiment and demand for the stock. Investors should be cautious, as past performance does not guarantee future results.
This evaluation is generated from SRM Contractors's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is SRM Contractors IPO GMP today?
SRM Contractors IPO GMP today is +₹70.0 (33.33%), indicating an estimated listing price of ₹280. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of SRM Contractors IPO?
The price band of SRM Contractors IPO is ₹200.0–₹210.0 per share.
When does SRM Contractors IPO open and close?
SRM Contractors IPO opens on 26 March 2024 and closes on 28 March 2024.
When does SRM Contractors IPO list on the stock exchange?
SRM Contractors IPO listed on 03 April 2024 at ₹280.0.
What is the lot size for SRM Contractors IPO?
The lot size for SRM Contractors IPO is 70 shares, requiring a minimum investment of ₹14,700.
What is the lot size for SRM Contractors IPO?
The lot size for the SRM Contractors IPO is 70 shares.
What is the minimum investment required?
The minimum investment required is ₹14,700.
What is the price band for the IPO?
The price band for the IPO is ₹200 to ₹210.
When is the listing date for the IPO?
The listing date for the IPO is April 3, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the stock may list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Mar 2024
Close
28 Mar 2024
Allotment
01 Apr 2024
Listing
03 Apr 2024
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