{"id":36391,"date":"2024-03-22T12:33:24","date_gmt":"2024-03-22T07:03:24","guid":{"rendered":"https:\/\/risingentrepreneurs.in\/index.php\/2024\/03\/22\/srm-contractors-limited-ipo-opens-on-march-26-2024\/"},"modified":"2024-03-22T12:33:24","modified_gmt":"2024-03-22T07:03:24","slug":"srm-contractors-limited-ipo-opens-on-march-26-2024","status":"publish","type":"post","link":"https:\/\/risingentrepreneurs.in\/index.php\/2024\/03\/22\/srm-contractors-limited-ipo-opens-on-march-26-2024\/","title":{"rendered":"SRM Contractors Limited IPO Opens on March 26, 2024"},"content":{"rendered":"
\n

Mumbai (Maharashtra) [India], March 22:<\/strong> SRM Contractors Limited,\u00a0a prominent Jammu & Kashmir based engineering construction and development company,\u00a0has announced its plan to go public with an Initial Public Offering on\u00a0March\u00a026, 2024.\u00a0The company is aiming to raise\u00a0\u20b9\u00a0130\u00a0Crore\u00a0on upper price\u00a0band through this IPO, with shares set to be listed on the\u00a0NSE\u00a0& BSE\u00a0platform.<\/p>\n

The issue size is Up to\u00a062,00\u00a0,000\u00a0equity\u00a0shares at face value of\u00a0\u20b9\u00a010 each.\u00a0<\/p>\n

Equity Share Allocation\u00a0\u00a0<\/strong><\/p>\n

\u25cf\u00a0Qualified Institutional Buyers (QIB)\u00a0\u2013\u00a0Up To\u00a031,00,000Equity Shares\u00a0(Including\u00a0Anchor Portion \u2013 Up To 18,60,000 Equity Shares)<\/p>\n

\u25cf\u00a0Non-Institutional Investors (NII)\u00a0\u2013\u00a0Up To\u00a09,30,000\u00a0Equity Shares<\/p>\n

\u25cf\u00a0Retail Individual Investors (RII)\u00a0\u2013\u00a0Up To\u00a021,70,000\u00a0Equity Shares<\/p>\n

The net proceeds from the IPO will be utilized\u00a0to purchase\u00a0capital equipment, meet working capital requirements, repayment\u00a0and\u00a0prepayment of certain outstanding secured borrowings,\u00a0investment\u00a0in\u00a0joint Venture\u00a0project\u00a0and\u00a0general corporate expenses.\u00a0The bidding for the Anchor portion will open on\u00a0March\u00a022, 2024, and the issue will\u00a0open\u00a0on\u00a0March26, 2024\u00a0and closes on\u00a0March 28, 2024.\u00a0\u00a0<\/p>\n

The Book Running Lead Manager to the Issue is Interactive Financial Services Limited. The Registrar to the Issue isBigshare Services Private Limited.<\/p>\n

Sanjay Mehta, Managing Director of SRM Contractors Limited said, \u201cI am delighted to announce SRM \u2018s decision to go public through an IPO. With our extensive experience ofyears of operating in challenging geographical regions and a resilient order book, we are prepared to embark on this exciting journey and establish a formidable presence within the industry.<\/p>\n

We believe that the funds raised through this IPO will play a crucial role in enhancing our equipment portfolio and investment in joint venture projects, thereby fortifying our position. Moreover, it will enable us to meet our working capital requirements more efficiently, further strengthening our operational capabilities. We perceive this as a significant chapter and are genuinely excited about it.\u201d<\/p>\n

Mr. Mayur Parikh, Director of Interactive Financial Services Limited said, \u201cWe are pleased to be part of SRM Contractors Limited\u2019s IPO journey. The company\u2019s strong proficiency in executing projects in challenging terrain, and hilly regions, coupled with government initiatives aimed at infrastructure development, positions the company favorably to capitalize on emerging opportunities.<\/p>\n

We extend our heartfelt best wishes to SRM Contractors Limited as they embark on this exciting endeavour. With a solid foundation and promising outlook, we are confident in the success of their IPO and look forward to a fruitful journey ahead.\u2019\u2019<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], March 22: SRM Contractors Limited,\u00a0a prominent Jammu & Kashmir based engineering construction…<\/p>\n","protected":false},"author":1,"featured_media":36392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[1340,1339],"class_list":["post-36391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pr","tag-press-release"],"_links":{"self":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/36391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/comments?post=36391"}],"version-history":[{"count":0,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/36391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media\/36392"}],"wp:attachment":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media?parent=36391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/categories?post=36391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/tags?post=36391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}