Srigee DLM Shares List at 90% Premium on BSE SME: Stellar Debut Attracts Market Attention

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.