Achi news desk-
New Delhi3 days ago
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The initial public offering ie IPO of construction and developer 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 the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on April 3. The company wants to raise ₹ 130.20 crore through this issue. This will be an entirely new 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 tell 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 at least one lot ie 70 shares. The company has set the IPO price band at ₹200-₹210 per share. If you apply for 1 lot at the IPO maximum price band of ₹ 210, you will have to invest ₹ 14,700. Retail investors can bid for a maximum of 13 lots ie 910 shares, for which they will have to invest ₹ 191,100.
You can get a return of 19.05% on investment
Before the IPO opened, the company’s shares had reached a premium of 19.05% ie ₹ 40 per share in the gray market. In such a situation, according to the upper price band of ₹210, it can be listed at ₹250.
SRM Contractors was established in 2008
SRM Contractors Limited, established in 2008, is a construction and developer company, mainly engaged in road, bridge, tunnel and other development works in Jammu and Kashmir and Ladakh.
