Ahead of its listing, SRM Contactors the company was commanding a premium of Rs 70 per share in the unofficial market, suggesting a listing pop of 33 per cent for the investors.
SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilization works in Jammu & Kashmir and Ladakh.
SRM Contractors IPO raised Rs 39 crore from anchor investors. The issue is priced at Rs 200-210 per share. The company plans to raise Rs 130 crore. Grey market trends signal a 19% listing premium. SRM has a strong track record in infrastructure projects in J&K and Ladakh.