SRM Contractors: The IPO was listed SRM Contractors shares were listed at ₹225 apiece, a premium of 7.14 percent to the issue price of ₹210 per share, on the BSE on April 3. Currently trading at ₹199.15, the stock is below its issue price. The issue was open for subscription between March 26 and March 28 with a price band set in the range of ₹200-210 apiece.
SRM Contractors IPO was a book-built issue of ₹130.20 crores, which was entirely a fresh issue of 62 lakh shares. The IPO was subscribed 86.57 times till the last day of bidding. “Despite the strong subscription, some investors might have found the valuation at listing less attractive.
Also, broader market conditions might have impacted investor sentiment and tempered listing gains," Shivani Nyati, Head of Wealth, Swastika Investmart has said post its listing. “The company’s strong regional presence, in-house capabilities, and healthy order book remain positive points. However, a cautious approach is advisable," she added.
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 Territory. Bharti Hexacom: Bharti Hexacom made a stellar debut on the bourses on April 12. On NSE, Bharti Hexacom share price opened at ₹755 per share, 32.5 percent higher than the issue price of ₹570.
Currently trading at ₹878.80, the stock is trading over 54 percent higher than its IPO price. The issue was open for subscription between April 3 and April 5 with a price band set in the range of ₹542-570. Bharti Hexacom IPO was a book-built issue worth ₹4,275 crore, which was entirely an offer for sale of 7.5
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