Upcoming IPO: Srigee DLM IPO opens on May 5; issue price band set at ₹94-99 apiece; check GMP

Upcoming IPO: Srigee DLM Ltd IPO will open for subscription on Monday, May 5 and close on Wednesday, May 7. Srigee DLM IPO price band has been fixed in the range of ₹94 to ₹99 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,200 equity shares and in multiples of 1,200 equity shares thereafter.

Established on December 20, 2005, as Srigee Enterprises Private Limited, Srigee DLM Private Limited initially focused on plastic mouldings for consumer goods. By 2013, the company expanded into home appliance mouldings and enhanced its production capability by incorporating state-of-the-art injection molding machines.

Srigee DLM Private Limited specializes in design-driven manufacturing and assembly services, with a focus on plastic injection moulding, tool room and die manufacturing, mobile phone sub-assembly, as well as polymer compounding and trading.

The company serves various sectors such as consumer durables, home appliances, automotive parts, and electronics, providing premium, cost-effective, and dependable manufacturing solutions to prominent OEMs.

On Thursday, May 8, 2025, the allocation of shares for the Srigee DLM IPO is expected to take place, with the shares being credited to the demat accounts of the allottees on Friday, May 9, 2025. The IPO allocation consists of 50% set aside for QIBs, 35% for retail investors, and 15% for the NII category.

Retail investors are required to make a minimum investment of ₹1,18,800, as the smallest application lot consists of 1200 shares. For high-net-worth individuals (HNIs), the minimum bid size is two lots, or 2400 shares, which amounts to a total investment of ₹2,37,600 at the highest price band.

As of December 31, 2024, Srigee DLM Limited reported revenue of ₹54.34 crore and a profit after tax (PAT) of ₹3.77 crore. The market capitalization for the Srigee DLM IPO stands at ₹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).

Srigee DLM IPO details

Srigee DLM IPO consists of a fresh issue of 17,14,800 equity shares, aggregating to ₹16.98 crore. There's no offer for sale (OFS) component.

The Srigee DLM IPO plans to use the net proceeds from the offering for several purposes, including covering capital expenditures, establishing a manufacturing facility in Uttar Pradesh, acquiring machinery to be installed at the new facility, and addressing general corporate needs.

GYR Capital Advisors Private Limited serves as the book-running lead manager for the Srigee DLM IPO, while Bigshare Services Pvt Ltd acts as the registrar for the offering. Globalworth Securities Limited is the market maker for the Srigee DLM IPO.

Srigee DLM IPO GMP today

Srigee DLM IPO GMP today is +8. This indicates Srigee DLM share price was trading at a premium of ₹8 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Srigee DLM share price is indicated at ₹107 apiece, which is 8.08% higher than the IPO price of ₹99.

According to the grey market activities observed in the last four sessions, today's IPO GMP is rising and is anticipated to have a robust listing. The minimum GMP is ₹0.00, while the maximum GMP is ₹8, as stated by experts from investorgain.com.

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

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