The initial public offering of Srigee DLM Ltd. that opened for subscription on Monday, May 5, will close for bidding on Wednesday, May 7. So far, the SME issue has received a fantastic response from the investors with over 400 times the subscription on Day 3.
The demand for the IPO was led by non-institutional investors who bid for 2,75,36,400 shares against the 2,46,000 on offer (subscribing 111.94 times). Retail investors bid for 3,72,50,400 shares against the 5,72,400 on offer (subscribing 65.08 times). Qualified Institutional investors subscribed 1.45 times the shares on offer, bidding for 4,70,400 shares against the 3,25,200 on offer.
As bidding for the SME IPO enters its final day, here's all you need to know about the Srigee DLM IPO, including the latest subscription status, grey market premium, allotment date, steps to check allotment status, listing date and more.
Srigee DLM IPO: All You Need To Know
The Srigee DLM IPO is a book-building issue worth Rs 16.98 crore. The BSE SME issue comprises fresh issuance of 17.15 lakh shares. The price band for the IPO has been set between Rs 94 to Rs 99 per share. The company is involved in manufacturing and assembly services for industries such as home appliances and consumer durables
The minimum lot size for retail investors is 1,200 shares, which amounts to an investment of Rs 1,18,800.
As per the company's RHP document, out of the 17,14,800 shares on offer:
3,25,200 (18.96%) is allocated to qualified investors
2,46,000 (14.35%) is allocated to non-institutional investors
5,72,400 (33.38%) is allocated to retail investors
4,84,800 (28.27%) is allocated to anchor investors.
GYR Capital Advisors Pvt. is the book-running lead manager of the Srigee DLM IPO. Bigshare Services Pvt. is the registrar, and Globalworth Securities Ltd. is the market maker for the issue.
Srigee DLM IPO Day 3 Subscription Status
Srigee DLM IPO has been subscribed 420.05 times as of 3:19 PM on Wednesday.
Qualified Institutions: 131.44 times
Non-Institutional Buyers: 1,325.30 times
Retail Investors: 194.97 times
*Subscription status will be updated at regular intervals.
Srigee DLM IPO GMP Today
The latest GMP for Srigee DLM IPO was Rs 25 recorded at 1:53 p.m. on May 7, marking a premium of 25.25% over the issue price. Unlisted shares of of Srigee DLM Ltd. were trading at Rs 124 apiece in the grey market.
According to InvestorGain, the GMP of Srigee DLM IPO was Rs 10.5 when the company confirmed the price band for the issue. GMP continued its rising trend to Rs 25 a piece ahead of its opening day of subscription. The grey market rate continued to rise further and was Rs 30 on May 6.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Srigee DLM IPO Allotment And Listing Date
The Srigee DLM IPO share allotment status is scheduled to be finalised on Thursday, May 8.
Shares of Srigee DLM will be credited to the Demat accounts of successful bidders on May 9, and refunds for non-allottees will be done on the same day.
The tentative date for the listing of the Srigee DLM IPO is Monday, May 12. Shares of Srigee DLM Ltd. are scheduled to be listed on the BSE SME platform.
How To Check Srigee DLM IPO Allotment Status
Investors who bid for the SME issue can check the share allotment status for Srigee DLM IPO on the websites of BSE and Bigshare Services by following the step-by-step guide provided below.
On BSE:
Go to the official BSE website: https://www.bseindia.com/investors/appli_check.aspx
Select the issue type as 'Equity.'
Choose "Srigee DLM Limited" from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the "Search" button to view your allotment status.
Download or print the allotment status for your records.
On Bigshare Services
Visit the IPO page on the Bigshare Services website here:
Select any server to know your IPO Allotment Status.
Select "Srigee DLM Limited" from the company drop-down list.
Select PAN number, application number/CAF no., or Beneficiary ID.
Enter your PAN number, application number, or Beneficiary ID details as per your above-selected choice.
Click on the "SUBMIT" button.
Download or print the allotment status for your records.
Srigee DLM Limited, formerly Srigee DLM Pvt. Ltd., was originally established as Srigee Enterprises Pvt. Ltd. and has grown into a public limited company, recognized as one of the leading provider of plastic injection molding and electronics manufacturing solutions. Headquartered in Greater Noida, Uttar Pradesh, with strategically located operational units across the National Capital Region (NCR), we cater to OEM and ODM clients in consumer electronics, home appliances, and automotive industries. It serves clients in industries such as consumer durables, home appliances, and automotive components.
Use of Proceeds
The company will use the proceeds from the IPO to fund its capital expenditure, set up a manufacturing facility in Uttar Pradesh, and acquire machinery and general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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