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Srigee DLM IPO sizzles on debut; posts 99% gain to hit upper circuit
Srigee DLM IPO listing today, Srigee DLM share price: Shares of Srigee DLM made a strong debut on the BSE SME on Monday, May 12, 2025, continuing their upward momentum by hitting the upper circuit within minutes of listing. The company's stock opened at ₹188.10 per share, marking a 90 per cent premium over the IPO allotment price of ₹89.10. Notably, the BSE has capped the listing gain at 90 per cent above the issue price for SME listings. Following the listing, Srigee DLM's shares gained an additional 5 per cent, surging 99.49 per cent from the issue price to reach the upper circuit at ₹197.5 per share. By the time trading was halted, nearly 0.5 million shares, worth ₹9.61 crore, had been traded.
Srigee DLM IPO listing outperformed grey market trends, with Srigee DLM shares trading at ₹144 apiece ahead of the listing, reflecting a grey market premium (GMP) of ₹45 or 45.45 per cent over the issue price, according to sources tracking grey market activity.
Srigee DLM IPO details
The SME offering, valued at approximately ₹16.98 crore, consisted of a fresh issue of 1.71 million equity shares, with no offer for sale (OFS) component.
The public issue was open for subscription from Monday, May 5, 2025, to Wednesday, May 7, 2025, with a price band of ₹94–99 per share and a lot size of 1,200 shares. The IPO received an overwhelming response from investors, with the offering oversubscribed by nearly 456.80 times, according to BSE data.
The public offering saw the highest participation from non-institutional investors (NIIs), who subscribed to 1,136.02 times the portion reserved for them. Retail investors subscribed 243.71 times, and qualified institutional buyers (QIBs) subscribed 137.59 times.
Srigee DLM plans to use the funds raised from the IPO to establish a manufacturing facility at Plot No. 15, Ecotech – X, Industrial Area, Greater Noida, Gautam Budh Nagar, Uttar Pradesh. The company will also invest in acquiring machinery for the new facility and allocate funds for capital expenditure and general corporate purposes.
About Srigee DLM
Founded in 2005, Srigee DLM offers end-to-end plastic manufacturing solutions, combining design and production expertise for OEM and ODM clients. Its services include injection molding, tooling, compounding, and assembly, with in-house capabilities in die design, testing, and polymer compounding.
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