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.

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