Srigee DLM IPO Receives Over 490.9x Subscription On Day 3; Check GMP Today
Unlisted shares of Srigee DLM Ltd are trading at Rs 124 apiece in the grey market, which is a 25.25 per cent premium over the upper IPO price of Rs 99.
Srigee DLM IPO Day 3: The initial public offering of Srigee DLM Ltd received an overwhelming response from investors. The three-day IPO was closed on Wednesday at 5:00 pm. Till 5:00 pm on the final day of bidding on May 7, the Rs 16.98-crore BSE SME IPO received a whopping 490.93 times subscription garnering bids for 56,14,24,800 shares as against 11,43,600 shares on offer.
The retail and NII participation stood at 243.71 times and 1,534.66 times, respectively. The qualified institutional buyers (QIB) category has received a 136.52 times subscription on the Day 2 so far.
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The IPO was fully subscribed in less than an hour of its opening on Monday. On the first day of bidding, it was subscribed by 13.77 times.
The price band of the Srigee DLM IPO has been fixed in the range of Rs 94 to Rs 99 apiece.
For investors, the minimum lot size for an application is 1,200. The minimum amount of investment required by retail investors Rs 1,18,800 on an upper price band. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,37,600.
Srigee DLM IPO GMP Today
According to market observers, unlisted shares of Srigee DLM Ltd are currently trading at Rs 124 apiece in the grey market, which is a 25.25 per cent premium over the upper IPO price of Rs 99. It indicates a decent listing gains for investors on May 12, the tentative listing date.
The IPO will be listed on the BSE SME platform.
After the IPO closes on May 7, the Srigee DLM IPO allotment will likely be finalised on May 8.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Srigee DLM IPO: More Details
The Srigee DLM IPO is entirely a fresh issue of 17.15 lakh shares. Its price band has been fixed at Rs 94 to Rs 99 per share.
As of December 31, 2024, Srigee DLM Limited reported revenue of Rs 54.34 crore and a profit after tax (PAT) of Rs 3.77 crore. The market capitalisation for the Srigee DLM IPO stands at Rs 59.14 crore.
As per the red herring prospectus (RHP),the company’s listed peers are Amber Enterprises India Ltd (with a P/E of 169.65), and Cyient DLM Ltd (with a P/E of 55.46).
GYR Capital Advisors Private Limited is the book-running lead manager of the Srigee DLM IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for Srigee DLM IPO is Globalworth Securities Limited.
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