Srigee DLM share price made a bumper debut on BSE SME today. Srigee DLM share price today opened at ₹188.10, which is 90% higher than the issue price of ₹99.
The Srigee DLM IPO opened for bidding on Monday, May 5, and will close on Wednesday, May 7. Srigee DLM IPO price band was established between ₹94 and ₹99 per equity share, with a face value of ₹10 each. Investors are allowed to place bids for a minimum of 1,200 equity shares, with subsequent bids in increments of 1,200 shares. Srigee DLM IPO subscription status was 490.93 times, as per chittorgarh.com
Srigee Enterprises Private Limited and Srigee DLM Private Limited initially focused on the production of plastic mouldings for consumer items. By the year 2013, Srigee DLM Private Limited had diversified into mouldings for home appliances and enhanced its production capabilities by adding state-of-the-art injection molding machines.
Srigee DLM Private Limited is dedicated to design-oriented manufacturing and assembly services, with expertise in plastic injection moulding, tool room and die production, mobile phone sub-assembly, and polymer compounding and trading. The company caters to industries such as consumer goods, home appliances, automotive components, and electronics, delivering high-quality, affordable, and reliable manufacturing solutions to leading OEMs.
According to the red herring prospectus (RHP), the company’s listed peers include Amber Enterprises India (with a P/E ratio of 169.65) and Cyient DLM (with a P/E ratio 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 is no offer-for-sale (OFS) component.
The proceeds from the Srigee DLM IPO are intended to be utilised for various purposes, such as funding capital expenditures, acquiring machinery, and addressing general corporate needs.
GYR Capital Advisors Private Limited is the lead manager overseeing the book-running for the Srigee DLM IPO, while Bigshare Services Pvt Ltd functions as the registrar for this offering. Globalworth Securities Limited serves as the market maker for the Srigee DLM IPO.
Srigee DLM IPO GMP today
Srigee DLM IPO GMP today is +45. This indicates Srigee DLM share price was trading at a premium of ₹45 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 ₹144 apiece, which is 45.45% higher than the IPO price of ₹99.
Following the grey market trends from the past 15 sessions, today’s IPO GMP is trending upward, indicating a promising listing. The minimum GMP recorded is ₹0.00, while the maximum GMP stands at ₹45, according to experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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