SRM Contractors IPO Day 3: Issue booked over 45 times, NIIs steal the show; check GMP, subscription status & more
SRM Contractors IPO: After a positive response on first two days of the issue, bidders remain invested in SRM Contractors IPO on the last day of subscription. The issue received overwhelming responses especially from non-institutional investors (NIIs), with their portions booked the highest among all groups of investors on Thursday, March 28. On day 3, the overall SRM Contractors IPO subscription status was 45.69 times, as per NSE data.
SRM Contractors IPO was the sole mainboard IPO open for subscription this truncated week. The issue opened for bidding on Tuesday, March 26 and closed today. The company has reserved 15 per cent of the shares for NIIs, maximum of 50 per cent for qualified institutional buyers (QIBs), and not less than 35 per cent for retail investors.
SRM IPO received bids for 19,82,86,970 shares against 43,40,100 shares on offer today, according to data from the NSE. The retail portion was subscribed 27.06 times, and NII portion was booked 109.32 times and the QIB portion was booked 30.56 times on the third and final day of bidding. The retail investors' segment received bids for 5,87,15,300 shares against 21,70,000 shares on offer for this segment.
The NIIs portion got bids for 10,16,71,290 shares against 9,30,000 on offer for this segment. The QIBs segment got bids for 3,79,00,380 shares against 12,40,100 on offer for this segment. On the second day of bidding, the issue was subscribed 9.7 times and on the first day, it was booked 3.56 times, according to stock exchange data.
SRM IPO, consists of of fresh issue of up to 62,00,000 equity shares aggregating up to ₹130.20 crore. There is no offer-for-sale component. SRM Contractors IPO price band has been fixed in the range of ₹200 to ₹210 apiece of the
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