New Delhi, May 12 (H.S.): Srigee DLM, a company specializing in plastic moldings for consumer durables and home appliances, made a remarkable stock market debut today, much to the delight of IPO investors. The shares, offered at ₹99, started trading on the BSE SME platform with a 90% premium, opening at ₹188.10. Following strong buying activity, the shares surged to the upper circuit limit of ₹197.50, effectively doubling investor money on the first trading day. The IPO, valued at ₹16.98 crore, was open for subscription from May 5 to May 7 and attracted significant interest, being oversubscribed 490.93 times overall.

The Qualified Institutional Buyers (QIB) segment was subscribed 136.52 times, the Non-Institutional Investors (NII) portion 1,534.66 times, and retail investors subscribed 243.71 times. A total of 1,714,800 new shares with a ₹10 face value were issued, with proceeds aimed at establishing a manufacturing facility in Greater Noida and purchasing machinery. Financially, Srigee DLM has shown steady growth, reporting net profits of ₹3.10 crore for 2023-24 and revenues of ₹54.65 crore, reflecting a sustained 28% CAGR.

Hindusthan Samachar / Jun Sarkar