SRM Contractors IPO Draws Diverse Interest, Hits 2.22x on Opening Day!

SRM Contractors IPO closes Day 1 with 2.22x overall subscription; QIBs at 1.57x, NIIs lead at 3.38x, and RIIs show solid participation at 2.10x, showing a varied and positive investor response.
SRM Contractors IPO Draws Diverse Interest, Hits 2.22x on Opening Day!

SRM Contractors Limited IPO Subscription Status Today

On Day 1, the SRM Contractors Limited IPO concluded with a total subscription status of 2.22 times. This initial response showcases a balanced interest from different investor classes, reflecting a positive start to the company’s public offering and market entry.

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Breaking down the subscription data, Qualified Institutional Buyers (QIBs) showed a moderate interest at 1.57 times subscription, while Non-Institutional Investors (NIIs) demonstrated stronger engagement at 3.38 times. Retail Individual Investors (RIIs) also participated actively, contributing to a 2.10 times subscription. 

How To Check SRM Contractors Ltd IPO Subscription Status? 

Steps to check the IPO allotment status on NSE

Following are the steps to check it through the NSE website

  • Visit NSE‘s official website.
  • Navigate to the ‘Market Data’ tab.
  • Choose ‘IPO’.
  • Select the SRM Contractors Limited IPO to check its subscription status.
  • Opt for either NSE Bid details or Consolidated Bid details.
  • Explore the total number of bids received from various investors. 

SRM Contractors Limited IPO Allotment Status

The allotment date for the SRM Contractors Limited IPO is set for April 3, 2024, with shares priced at a range of ₹200 to ₹210 per share and a face value of ₹10. The offering consists of lots of 70 shares, with bids accepted for these lots or their multiples.

SRM Contractors Limited IPO Listing Date 

The anticipated listing date for SRM Contractors Limited on the NSE SME is April 3, 2024.

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