SRM Contractors IPO listing date today. Here’s what GMP, experts suggest about share debut

SRM Contractors IPO: The SRM Contractors IPO listing date has been scheduled for today (Wednesday, April 3) on the bourses at 10:00 IST. The BSE website has informed investors that SRM Contractors share price will be listed on the BSE and NSE in a special pre-open session during Wednesday's trades. SRM Contractors share price today will be available for trade starting at 10:00 IST.

According to a notification from the BSE, trading members of the exchange are thus notified that, as of Wednesday, April 3, 2024, the equity shares of SRM Contractors Ltd. will be listed and admitted to dealings on the exchange in the list of "T"Group of Securities.

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Also Read: SRM Contractors IPO listing tomorrow: Here's what GMP, subscription status hint ahead of listing

SRM Contractors IPO listing price prediction 

Shivani Nyati, Head of Wealth, Swastika Investmart Ltd

According to Nyati, SRM Contractors, a construction business that specialises in infrastructure projects in Jammu & Kashmir and Ladakh, is now ready for a successful IPO. A solid subscription of 86.57 times was received for the IPO, indicating strong investor interest. At present, the IPO has a high grey market premium (GMP) of ₹95, which translates to a premium of 45.24% above the issue price. These indications point to a solid listing for SRM contractors.

Vishnu Kant Upadhyay, Assistant Vice President at Master Capital Service Ltd

Upadhyay believes that the company is increasing the amount of machinery and equipment in its fleet, which would improve its operating efficiency in the next quarters. It also expects its order book to increase in FY25. The order book of SRM Contractors reached ₹1,199.32 crore on January 31, 2024, a 177% growth from FY21 to FY23.

The market is expecting a strong listing, and the IPO GMP is trending upward. The SRM Contractors IPO might list for between ₹260 and ₹300 per share, depending on the sentiment of the market. The investor may keep the stock after listing for an extended period of time, according to the listing perspective for the IPO.

Also Read: SRM Contractors IPO listing tomorrow: Here's what GMP, subscription status hint ahead of listing

Arun Kejriwal, founder of Kejriwal Research and Investment Services

On the other side, Arun Kejriwal explained that with ₹210 being the issue price, ₹270–290 would be a fair price for this counter. There could be a lot of pressure post-listing. Because, if we notice most of the issue in the last couple of weeks, the higher levels of listing are not sustaining. So there is a good possibility that things can fall apart thereafter. 

Also Read: SRM Contractors IPO allotment out; Here's GMP, how to check allotment status online

SRM Contractors IPO GMP today

SRM Contractors IPO GMP is +80. This indicates SRM Contractors share price were trading at a premium of ₹80 in the grey market, according to investorgain.com.

With the upper end of the IPO price band and the current premium on the grey market taken into consideration, the SRM Contractors IPO is expected to list for ₹290 per share, which is 38.1% more than the IPO price of ₹210.

The IPO GMP is heading upward and is expected to have a robust listing based on the actions of the past fifteen sessions of the grey market. 125 is the highest GMP, according to expert data on investorgain.com; the lowest GMP is ₹25.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: SRM Contractors IPO last bidding day today: Should you subscribe or not? Check GMP, subscription status, other details

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.