Srigee DLM IPO sees high demand on Day 1; subscription rises 3x, GMP at 25%

Srigee DLM IPO Day 1 update: Plastic mouldings company Srigee DLM has received an overwhelming response from the investors for its initial public offering (IPO) as the issue got oversubscribed in less than 2 hours after opening for public subscription.

 

The SME offering, estimated at ₹16.98 crore, which comprises an entirely fresh issue of 1.71 million equity shares with no offer for sale (OFS) component, has been oversubscribed by 2.76 times till around 11:37 AM on Monday, May 5, showed the BSE data.

 

Srigee DLM IPO subscription status

Non-institutional investors (NIIs) and retail investors have led the demand for the Srigee DLM IPO by oversubscribing the category reserved for them by 4.97 and 3.05 times, respectively. The public offering, however, has not received any bids from the Qualified institutional buyers (QIBs) till now.

 

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Srigee DLM IPO price band, lot size

Srigee DLM IPO is available at a price band of ₹94-99 per share, and a lot size of 1,200 shares. Accordingly, the investors can bid for a minimum of 1,200 shares and in multiples thereof.

 

To bid for one lot of Srigee DLM IPO, a retail investor would need a minimum of ₹1,18,800.

 

Srigee DLM IPO grey market premium (GMP)

The unlisted shares of Srigee DLM were commanding a solid premium in the grey markets on Monday. Sources tracking grey market activities revealed that the company's shares were quoted trading at around ₹124 per share, reflecting a grey market premium (GMP) of ₹25 or 25.25 per cent over the upper end of the IPO price.

 

Srigee DLM IPO allotment date, listing date

Srigee DLM IPO is expected to remain open until Wednesday, May 7, 2025. Following the closure of the subscription window, the basis of allotment is expected to be finalised on Thursday, May 8, 2025.

 

Srigee DLM shares will list on the BSE SME on Monday, May 12, 2025.

 

Srigee DLM IPO objective

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 registrar, lead manager

Bigshare Services is the registrar, while GYR Capital Advisors Private Limited is serving as the book-running lead manager.

 

About Srigee DLM

Srigee DLM, founded in December 2005, provides 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, Srigee DLM has developed in-house capabilities in die design, testing, and polymer compounding.