Market Performance
Srigee DLM shares made a powerful entry into the market on May 12, listing at ₹188.10 per share on the BSE SME platform.
This marks a massive 90% premium over its IPO price of ₹99, far exceeding market expectations.
Before the listing, Srigee DLM shares were already making noise in the grey market, trading at a premium of over 45%, with an estimated listing price of around ₹144.
Main News
Srigee DLM’s IPO was a massive hit, backed by an overwhelming response across investor categories.
- IPO Size: ₹16.98 crore
- IPO Price Band: ₹94 – ₹99
- Subscription Window: May 5 to May 7
Investor Category-Wise Subscription:
- Non-Institutional Investors (NII): 1,136 times
- Retail Investors: 244 times
- Qualified Institutional Buyers (QIBs): 138 times
GYR Capital Advisors managed the IPO, while Abundantia Capital and Vikasa India EIF I Fund participated as anchor investors. On May 2, they picked up 4.84 lakh shares at ₹99 per share, raising ₹4.8 crore pre-IPO.
Company Details
Srigee DLM is a plastic injection moulding manufacturer, and its strong listing performance reflects growing investor confidence in emerging manufacturing companies.
Utilization of IPO Funds:
- Setting up a new manufacturing facility in Greater Noida, Uttar Pradesh
- Acquisition of machinery
- General corporate purposes
The company’s aggressive expansion plans, supported by a well-received IPO, position it for strong operational growth in the near term.
Summary
Srigee DLM shares stormed into the market with an impressive 90% listing gain, outperforming grey market expectations. The overwhelming investor interest, especially from NIIs and retail participants, showcases robust market sentiment for small-cap manufacturing firms.
With a clear roadmap for fund utilization, Srigee DLM shares are likely to remain under focus in the short term, making it one of the most watched SME listings of the year.
