The listing date for SRM Contractors IPO has been set for today (Wednesday, April 3), with trading commencing at 10:00 IST on both the BSE and NSE. In a special pre-open session, SRM Contractors share price will be available for trade from this time.
As per a notification from the BSE, 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 effective from April 3, 2024.
The market anticipates a strong listing for SRM Contractors IPO, with significant investor interest demonstrated by a solid subscription rate of 86.57 times during the IPO. Grey market premium (GMP) stands high at ₹95, indicating a premium of 45.24% above the issue price, suggesting a promising debut for SRM Contractors.
Analysts forecast a listing price ranging between ₹260 and ₹300 per share, depending on market sentiment. Arun Kejriwal suggests a fair price between ₹270 and ₹290 considering the issue price of ₹210. However, caution is advised as post-listing pressures may arise, as observed with recent IPOs.
Grey market premium (GMP) for SRM Contractors IPO is currently at +80, signifying a premium of ₹80 in the grey market. Considering the upper end of the IPO price band and the current GMP, the expected listing price is ₹290 per share, reflecting a 38.1% increase over the IPO price.
The upward trend in IPO GMP suggests a robust listing, with the highest GMP recorded at 125 and the lowest at ₹25 according to expert data on investorgain.com. Grey market premium serves as an indicator of investors’ willingness to pay above the issue price.
