Within the gray market, the corporate’s shares are commanding a GMP of Rs 45. Given the robust gray market premium and the spectacular subscription response, there’ll doubtless be a constructive itemizing efficiency for Srigee DLM. The GMP suggests upwards of 40% itemizing premium over the problem worth
The IPO witnessed strong demand, being oversubscribed by over 400 instances. Among the many numerous investor classes, the non-institutional investor (NII) phase noticed a subscription of 1,136 instances, retail traders subscribed 243 instances, whereas Certified Institutional Patrons (QIBs) subscribed 137 instances.
Such overwhelming curiosity highlighted robust investor confidence within the firm’s enterprise mannequin and progress potential.
The corporate plans to make the most of the IPO proceeds to ascertain a producing facility in Larger Noida, purchase equipment, and for normal company functions.
As a participant within the area of interest design-led manufacturing sector, Srigee DLM is well-positioned to learn from the rising demand for personalized plastic injection molding options throughout industries.Market contributors will intently watch the itemizing to gauge investor sentiment and whether or not the inventory can maintain its gray market momentum.
Firm overview and financials
Srigee DLM is a design-led manufacturing firm specializing in plastic injection molding and meeting providers, catering to industries equivalent to automotive, client electronics, and industrial merchandise. Headquartered in Noida, the corporate offers end-to-end options from product design to remaining meeting.
In FY24, Srigee DLM reported a income of Rs 54.6 crore, with a web revenue of Rs 3.1 crore.
(Disclaimer: Suggestions, options, views and opinions given by the consultants are their very own. These don’t symbolize the views of Financial Occasions)
