SRM Contractors IPO allotment to be finalised soon. Here's how you can check status

After a robust response to the IPO, SRM Contractors is likely to finalise the share allotment on Sunday. The issue was booked 86 times at close on strong interest from non-institutional investors. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar's website.

Firstly, here's how you can know the status on BSE
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)


Step 2: Please select the issue name, that is the company's name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of SRM Contractors allotment through the registrar, which is Bigshare Services in this case, kindly follow the below steps.

Step 1: Visit the Bigshare Services website (https://www.bigshareonline.com/ipo_Allotment.html)

Step 2: Select SRM Contractors IPO

Step 3: Enter the PAN details and click search to know the status

SRM Contractors GMP

In the unlisted market, the company's shares are trading with a premium of Rs 110. This compares with an IPO price of 210, indicating a gain of over 50% on listing day, which is fixed as April 3.

SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works, and other miscellaneous civil construction activities in the union territories of Jammu and Kashmir, and Ladakh.

The company undertakes construction works both as an EPC contractor and on an item-rate basis for infrastructure projects. It also does sub-contracting assignments for infrastructure construction projects.

SRM has a track record of successful execution of road, tunnel, and slope stabilization projects in the difficult terrain of union territories of Jammu & Kashmir and Ladakh, and it, thus, believes that it has developed the expertise and know-how to undertake infrastructure construction projects in difficult terrains.

In recent years, J&K has received a boost in road infrastructure development, following the government's enhanced focus on improving road infrastructure in the region.

In FY23, the company's revenue from operations increased 13% to Rs 300 crore, while profit after tax rose 7% to Rs 18.74 crore. For the nine months ended December 2023, revenues stood at Rs 242 crore and PAT came in at Rs 20.17 crore.

Interactive Financial Services is the sole book-running lead manager for the IPO and Bigshare Services is the registrar.