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HomeSTOCKSCompany's Public Issue Was 130.20 Crore; After Listing, Share Hit Upper Circuit

Company’s Public Issue Was 130.20 Crore; After Listing, Share Hit Upper Circuit

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SRM Contractors Ltd has had a good start in the stock market. Shares of SRM Contractors are listed on BSE at Rs 225. 

Investors got shares of the company in IPO at Rs 210. SRM Contractors shares SRM Contractors are listed on BSE with an average premium of 7 percent. 

At the same time, the company’s shares are listed on the NSE at Rs 215.25 with a premium of 2.5 percent. The company’s IPO was open for subscription on 26 March and it remained open till 28 March.

Company Share Hit Upper Circuit On The Very First Day

With the listing, an upper circuit has been imposed on the shares of SRM Contractors. The company’s shares have risen to the price of 236.20 on BSE with an upper circuit of 5 percent.

At the same time, the company’s shares in the National Stock Exchange have reached Rs 226 with an upper circuit of 5 percent. 

The total amount of the company’s issue was 130.20 crore. Before the IPO the stake of promoters within the firm was 99.92 percent. It is now 72.92 percent.

More Than 86 Times Subscribed

SRM Contractors IPO was subscribed a total of 86.57 times. The quota for retail investors during the firm’s IPO was filled 46.97 times.

In the same way that, in the Non-Institutional Investments group (NII) it was 214.94 instances stakes. The Qualified Institutional Buyers (QIB) quota in the IPO was subscribed 59.59 times. 

If the firm goes public in its IPO retail investors can place bets in at least 1 lot and up to 13 lots. It is estimated that there are 70 shares included in one batch of IPO. This means that retail investors need to put aside at least Rs 14700.

SRM Contractors was established in the year 2008. SRM Contractors is a construction and development firm that deals in bridges, roads the construction of tunnels slope stabilization works, and other construction-related work.

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. We are here to provide timely updates about the stock market and financial products to help you make better investment choices.

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