Srigee DLM IPO closes today; subscription rises to 107x, GMP at 30%

The subscription was led by non-institutional investors (NIIs), who bid for over 200 times the reserved quota, followed by retail investors at 92.23 times

Srigee DLM IPO Day 3 update: The subscription window to bid for the initial public offering (IPO) of Srigee DLM is set to close today, May 7, 2025. The public issue, which opened for subscription on Monday, May 5, 2025, has received solid response from investors. According to BSE data, the issue has been subscribed over 94.74 times as of 11:53 AM on Wednesday, May 7, 2025.

 

The subscription was led by non-institutional investors (NIIs), who bid for over 225.92 times the reserved quota, followed by retail investors at 99.71 times. The portion booked for qualified institutional buyers (QIBs) was subscribed 1.52 times. 

 

Srigee DLM IPO GMP

The unlisted shares of Srigee DLM was trading at ₹129, commanding grey market premium (GMP) of ₹30 or 30.30 per cent, according to sources tracking unofficial markets.   ALSO READ | Kenrik Industries IPO allotment today; check status, GMP, listing date

 

Srigee DLM IPO details

Srigee DLM IPO aims to raise ₹16.98 crore through the SME offering comprising a fresh issue of 1.71 million equity shares. There is no offer for sale (OFS) component. According to the red herring prospectus (RHP), the basis of the allotment of shares is expected to be finalised on Thursday, May 8, 2025. Shares of Srigee DLM will be listed on the BSE SME platform tentatively on Monday, May 12, 2025. 

 

The company has fixed the price band at 99 per equity share. Retail investors would require a minimum investment amount of ₹1,12,800 to subscribe for a minimum of one lot comprising 1,200 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots consisting of 2,400 shares with a minimum investment amount of ₹2,37,600. The 

 

Bigshare Services is the registrar for the issue. GYR Capital Advisors is the sole book-running lead manager. 

 

According to the red herring prospectus, the company aims to utilise ₹5.42 crore from the net fresh proceeds for setting up a manufacturing facility in Gautam Budh Nagar, Uttar Pradesh and ₹9.51 crore for the acquisition of machinery to be installed at the proposed manufacturing facility. The remaining funds will be used for general corporate purposes.  ALSO READ | Arunaya Organics makes negative market debut; shares list at 48% discount

 

About Srigee DLM IPO

Incorporated in December 2005, Srigee DLM is involved in design-led manufacturing and assembly services, specialising in plastic injection moulding, tool room & die manufacturing, mobile phone sub-assembly, and polymer compounding and trading. The company caters to various industries including consumer durables, home appliances, automotive components and electronics. It offers high-quality, cost-efficient, and reliable manufacturing solutions to both OEMs and OEDs.