SRM Contractors’ IPO will open tomorrow: You can apply till March 28, expected to get more than 32% return on listing

The initial public offering i.e. IPO of construction and developers company SRM Contractors Limited will open for public subscription next week. Retail investors will be able to bid for this IPO from March 26 to March 28. The company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on April 3. The company wants to raise ₹130.20 crore through this issue. This will be a completely fresh issue, for which the company will issue 6,200,000 new shares. If you are also planning to invest money in this IPO, then we are telling you how much you can invest in it. What is the minimum and maximum amount that can be invested? For this IPO, the retail investor will have to apply for a minimum of one lot i.e. 70 shares. The company has fixed the IPO price band at ₹200-₹210 per share. If you apply for 1 lot at the upper price band of IPO at ₹210, you will have to invest ₹14,700. Retail investors can bid for a maximum of 13 lots i.e. 910 shares, for which they will have to invest ₹191,100. You can get 32.38% return on investment. Before the IPO opened, the company’s shares have reached a premium of 32.38% i.e. ₹ 68 per share in the gray market. In such a situation, according to the upper price band of ₹ 210, its listing can be at ₹ 278. SRM Contractors was established in 2008. SRM Contractors Limited, established in 2008, is a construction and developers company, which mainly does road, bridge, tunnel and other development work in Jammu and Kashmir and Ladakh.

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