Srigee DLM IPO: GMP, Day 1 Subscription Status, Offer Size And More

The initial public offering of Srigee DLM Ltd. opened for subscription on Monday, May 5. The company aims to raise Rs 16.98 crore through the public offer. The company is involved in manufacturing and assembly services for industries such as home appliances and consumer durables. Interested investors can check the following details before participating in the IPO subscription.

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.

A maximum of 50% of the net issue has been reserved for Qualified Institutional Buyers (QIBs) by the company. At least 35% of the net issue has been set aside for retail investors and the remaining 15% for the Non-Institutional Investors (NIIs).

The minimum lot size for retail investors is 1,200 shares, which amounts to an investment of Rs 1,18,800. The High Networth Individuals (HNIs) need to place bids for a minimum of two lots, or 2,400 shares, aggregating to an investment of Rs 2,37,600. 

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.

The subscription window for the IPO will remain open from May 5 to May 7. The IPO share allotment status is scheduled to be finalised on May 8.

Shares 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 May 12. Shares of Srigee DLM Ltd. are scheduled to be listed on the BSE SME platform.

Srigee DLM IPO has been subscribed 1.73 times as of 10:55 a.m. on Monday.

• QIB: nil

• Non Institutional Investors: 3.82 times

• Retail Investors: 1.82 times

*The subscription status will be updated at regular intervals

According to Investorgain, the grey market premium (GMP) for the IPO stood at Rs 25 as of 11 a.m. on May 5. This indicates that the listing price will be Rs 124 apiece, with a potential gain of 25.25%.

Note: GMP is not an official source of data and is based on speculation.

Srigee DLM specialises in plastic injection moulding and electronics manufacturing solutions. It caters to 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.

Financials

The company’s profit after tax (PAT) rose 10.32% year-on-year to Rs 3.1 crore in FY24 from Rs 2.81 crore in FY23. Its revenue from operations rose 15.46% year-on-year to Rs 54.43 crore in FY24 from Rs 47.14 crore in FY23. For the nine months ended Dec. 31, 2024, it reported a net profit of Rs 3.77 crore and a total income of Rs 54.57 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.