Mumbai: The Srigee DLM SME IPO will open for public subscription on Monday, May 5, 2025, and will close on Wednesday, May 7, 2025. The Noida-based company aims to raise Rs 16.98 crore through a fresh issue of 17.1 lakh equity shares.
The IPO is divided as follows:
- 50 per cent for Qualified Institutional Buyers (QIBs)
- 35 per cent for Retail Investors
- 15 per cent for Non-Institutional Investors (NIIs)
Price Band and Minimum Investment
Srigee DLM has set the price band between Rs 94 and Rs 99 per share.
The minimum lot size is 1,200 shares. This means:
- Retail investors need to invest at least Rs 1,12,800.
- HNIs (High Net-worth Individuals) must apply for at least 2 lots, i.e., invest Rs 2,37,600.
GMP and Allotment
As of Friday, Srigee DLM shares were trading at a GMP (grey market premium) of Rs 10.5 above the upper price band of Rs 99, showing some investor interest.
The basis of allotment will be finalised by Thursday, May 8, 2025, and the listing is expected on the BSE SME platform on Monday, May 12, 2025.
Use of Funds
Srigee DLM plans to use the IPO money for:
- Rs 5.42 crore to build a new manufacturing facility in Gautam Budh Nagar, UP.
- Rs 9.51 crore to buy machines for the new plant.
- The rest for general corporate purposes.
Company Overview
Started in December 2005, Srigee DLM makes plastic products for other companies (OEM/ODM). They offer complete plastic solutions including:
- Plastic injection moulding
- Tool and die manufacturing
- Polymer compounding
Assembly services
They also design and test their products in-house, giving them a competitive edge in quality and cost.
Financial Performance
In the first 9 months of FY25, the company reported:
Revenue: Rs 54.34 crore
Net Profit (PAT): Rs 3.77 crore
For FY24, the numbers were:
Revenue: Rs 54.42 crore (15.45 per cent growth from FY23)
PAT: Rs 3.09 crore (up 10 per cent from Rs 2.81 crore in FY23)
