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SRM Contractors IPO Surges with 17.40x Demand on Day 2

Day 2 of SRM Contractors Limited IPO saw a total 17.40x subscription, with QIBs at 2.41x, NIIs at a high 45.49x, and RIIs at 13.93x, reflecting diverse and robust investor interest.
SRM Contractors IPO Surges with 17.40x Demand on Day 2
SRM Contractors IPO Surges with 17.40x Demand on Day 2

On Day 2,SRM Contractors Limited IPO continued to draw attention, registering a total subscription of 17.40 times. This sustained interest from various investor categories indicates growing confidence in the company’s market prospects and appeal.

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In detail, Qualified Institutional Buyers (QIBs) subscribed 2.41 times, showing a consistent but measured interest. Non-Institutional Investors (NIIs) expressed substantial enthusiasm, with a high 45.49 times subscription. Retail Individual Investors (RIIs) also showed strong participation, reaching a 13.93 times subscription, underscoring the wide-ranging appeal of SRM Contractors Limited’s IPO among different investor groups.

SRM Contractors Limited IPO subscription Status

On its opening day, SRM Contractors Limited’s IPO achieved a 2.22 times overall subscription, indicating diverse investor interest. QIBs subscribed 1.57 times, NIIs showed notable enthusiasm at 3.38 times, and RIIs actively participated with 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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