Latest news with #SrigeeDLM
Mint
22-05-2025
- Business
- Mint
IPO euphoria returns! Companies line up offerings to capitalise on Indian stock market's rebound
India's primary market has witnessed a flurry of activity, as several companies are lining up to list their shares on the exchanges in May. Improved sentiment in the Indian stock market has revived the IPO space, bringing back the buoyancy seen in the recent past. While market activity has recently shown signs of a rebound, raising hopes that bidding for new issues will improve, nine companies have already listed their shares on Dalal Street after raising funds from investors, with eight being from the SME category. Ather Energy is the only mainboard company to have debuted on the exchanges since February. In terms of subscription, two SME IPOs—Srigee DLM and Virtual Galaxy Infotech—were subscribed 456 times and 178 times, respectively, as retail participation resumed after a period of inactivity. Ather Energy also saw its retail portion subscribed 2 times. In terms of current performance on the exchanges, most of these new listings have struggled, with six of them trading below their issue prices. Arunaya Organics has emerged as the biggest loser, trading 30% below its IPO price, followed by Kenrik Industries and Accretion Pharmaceuticals, both trading around 20% below their issue prices. On the positive side, Srigee DLM is currently trading 125.3% above its IPO price, while Virtual Galaxy Infotech is also trading 23% higher than its IPO price. In addition to the nine listings, another four companies are set to debut later this month. Among these, two belong to the mainboard category—Belrise Industries and Borana Weaves. The bidding for these has already begun, and they are likely to debut on Dalal Street on May 28 and May 27, respectively. The remaining two belong to the SME segment. Bidding is already open for Unified Data Tech Solutions and Dar Credit Capital. IPO activity for June also looks active, with the bidding for three mainboard issues—Prostarm Info Systems, Aegis Vopak Terminals, and Schloss Bangalore Limited—set to open at the end of this month. These companies are likely to debut on the exchanges during the first week of next month. Overall, 79 companies have entered the exchanges in the current calendar year so far, which is lower compared to 131 listings during the same period last year. The year 2024 emerged as a record-breaking year for the Indian primary market, with a whopping 340 companies making their debuts on the exchanges, helping to increase the size of the Indian stock market. Companies at the start of this year have held back their IPO plans, as weak market sentiment has made them wait for better market conditions to emerge. This has also led some of them to reduce their issue sizes. Companies that did raise funds during this period witnessed lukewarm demand for their offerings. The SME segment—typically a favourite among retail investors—also saw subdued interest, with the retail portion rarely crossing the 100-times subscription mark. This contrasts with most SME IPOs in 2024, where the retail portion was often oversubscribed by more than 100 times. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Business Standard
12-05-2025
- Business
- Business Standard
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.
Business Standard
12-05-2025
- Business
- Business Standard
BSE SME Srigee DLM ignites on listing day
Shares of Srigee DLM were trading at Rs 197.50 on the BSE, a premium of 99.49% compared with the issue price of Rs 99. The scrip was listed at Rs 188.10, a premium of 90% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit over its listing price. The counter hit a high of Rs 197.50 and a low of Rs 188.10. About 7.32 lakh shares of the company changed hands at the counter. Srigee DLM's IPO was subscribed 456.80 times. The issue opened for bidding on 5 May 2025 and it closed on 7 May 2025. The price of the IPO was set at Rs 94 to 99 per share. The IPO comprised fresh issue of 12,30 000 equity shares. The company intends to utilize the net proceeds to setup manufacturing facility in Greater Noida, Uttar Pradesh, to acquire machineries for proposed manufacturing facility and general corporate purposes. Ahead of the Srigee DLM on 2 May 2025, raised Rs 4.79 crore from anchor investors. The board has allotted 4.84 lakh shares at Rs 99 per share to 2 anchor investors. Srigee DLM offers comprehensive end to end plastic manufacturing solutions, with a focus on design-driven production that optimizes functionality and manufacturability. It offers customer comprehensive solutions all under one roof. The company classify its business into four segments, plastic injection moulding & assembly, tool room and die manufacturing, moulding, and polymer compounding and trading. As on 31st January 2025, the company has 61 permanent employees. The company recorded revenue from operations of Rs 54.34 crore and net profit of Rs 3.77 crore for the period ended 31 December 2024.
Time of India
12-05-2025
- Business
- Time of India
Srigee DLM shares to debut today. GMP signals a positive listing
Srigee DLM , a design-led manufacturing company specializing in plastic injection molding and assembly services, is set to debut on the BSE SME platform today. The company's Rs 16.98 crore IPO, entirely a fresh issue of 17.15 lakh shares, was priced in the range of Rs 94 to Rs 99 per share. In the grey market, the company's shares are commanding a GMP of Rs 45. Given the strong grey market premium and the impressive subscription response, there will likely be a positive listing performance for Srigee DLM. The GMP suggests upwards of 40% listing premium over the issue price The IPO witnessed robust demand, being oversubscribed by over 400 times. Among the various investor categories, the non-institutional investor (NII) segment saw a subscription of 1,136 times, retail investors subscribed 243 times, while Qualified Institutional Buyers (QIBs) subscribed 137 times. Such overwhelming interest highlighted strong investor confidence in the company's business model and growth potential. The company plans to utilize the IPO proceeds to establish a manufacturing facility in Greater Noida, acquire machinery, and for general corporate purposes. Live Events As a player in the niche design-led manufacturing sector, Srigee DLM is well-positioned to benefit from the growing demand for customized plastic injection molding solutions across industries. Market participants will closely watch the listing to gauge investor sentiment and whether the stock can sustain its grey market momentum. Company overview and financials Srigee DLM is a design-led manufacturing company specializing in plastic injection molding and assembly services, catering to industries such as automotive, consumer electronics, and industrial products. Headquartered in Noida, the company provides end-to-end solutions from product design to final assembly. In FY24, Srigee DLM reported a revenue of Rs 54.6 crore, with a net profit of Rs 3.1 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
08-05-2025
- Business
- Business Standard
Srigee DLM IPO allotment today; check status, GMP, likely listing gain
Srigee DLM IPO allotment status: The basis of allotment of shares for Srigee DLM shares is expected to be finalised today, Thursday, May 8, 2025. The initial public offering (IPO) of Srigee DLM, which closed its three-day subscription window on Wednesday, May 7, received an overwhelming response from investors, with the offering being oversubscribed by nearly 456.80 times, showed the BSE data. Srigee DLM IPO witnessed the highest participation from the non-institutional investors (NIIs), who subscribed to 1,136.02 times the portion reserved for them, retail investors subscribed at 243.71 times, and qualified institutional buyers (QIBs) at 137.59 times. Once the allotment of Srigee DLM IPO shares gets finalised, investors can check their status on the official websites of the BSE, and Bigshare Services, the registrar for the IPO. Alternatively, investors can also follow these direct links to check the Srigee DLM IPO allotment status online: Check Srigee DLM IPO allotment status on Bigshare Services: Srigee DLM IPO details The SME offering, valued at around ₹16.98 crore, comprises an entirely 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. It was available at a price band of ₹94–99 per share, and a lot size of 1,200 shares. Srigee DLM proposes to use the proceeds from the public offering to set up a manufacturing facility at Plot No 15, Ecotech – X, Industrial Area, Greater Noida, Gautam Budh Nagar, Uttar Pradesh, and for the acquisition of machinery to be installed at the proposed manufacturing facility. The company will use the proceeds to meet the capital expenditure and for general corporate purposes. Srigee DLM IPO grey market premium (GMP), listing estimate The unlisted shares of Srigee DLM were commanding a solid premium in the grey markets on Thursday. Sources tracking grey market activities revealed that the company's shares were quoted trading at around ₹132 per share, reflecting a grey market premium (GMP) of ₹99 or 33.33 per cent over the upper end of the IPO price. Shares of Srigee DLM are expected to debut on the BSE SME platform tentatively on Monday, May 12, 2025. Should the current GMP trend sustain, Srigee DLM shares may list with around 33 per cent premium. However, it is important to note that GMP is an unregulated market indicator and should not be relied upon for determining the company's market performance. About Srigee DLM Established in 2005, Srigee DLM offers comprehensive plastic manufacturing solutions, combining design expertise with production capabilities. The company serves both OEM and ODM clients, offering services including plastic injection molding, tool and die manufacturing, polymer compounding, and assembly. Through backward integration, the company has developed in-house capabilities in die design, testing, and polymer compounding.
