Srigee DLM IPO made a strong market debut on the BSE SME platform on May 12, with shares listing at Rs 188.10, a 90% premium over its IPO price of Rs 99.
Srigee DLM’s IPO saw strong subscription across all investor categories. The total subscription stood at 490.93 times, with 11,43,600 shares offered. Qualified Institutional Buyers (QIBs) led the way with a subscription of 136.52 times, followed by Non-Institutional Buyers (NIBs) at 1,534.66 times, Retail Investors at 243.71 times, and Anchor Investors and Market Makers fully subscribed. The total amount raised was Rs 5,558.11 crore from 1,50,783 applications.
Srigee DLM’s listing at ₹188.10 was significantly higher than the expected grey market price of ₹144, marking a positive listing with a 90% premium over the IPO price.
Details About Srigee DLM IPO
Srigee DLM is launching an IPO with a book-built issue worth ₹16.98 crores, consisting of a fresh issue of 17.15 lakh equity shares. The price band for the IPO is set between ₹94 to ₹99 per share, and there is no offer for sale in this issue. The retail investors have a minimum and maximum investment of ₹1,18,800, with a minimum application size of 1 lot (1,200 shares). For the S-HNI category, the minimum investment is ₹2,37,600, with a lot size of 2,400 shares. The IPO reserves 35% for retail, 50% for QIBs, and 15% for HNIs.
About Company
Srigee DLM, established in 2005, is a leading plastic manufacturing company that offers a wide range of products, including OEM and ODM services. The company focuses on cost efficiency, strong manufacturing capabilities, and backward integration to maintain its leadership in the industry. With the promoter’s expertise in technology, research, supplier partnerships, and customer relationships, Srigee DLM continues to meet the consistent demand for its products across various segments.
Finanacial Performance
Srigee DLM’s financial performance has shown consistent growth over the years. As of December 31, 2024, the company reported total assets of ₹32.02 crore, up from ₹16.23 crore in FY 2021-22. Revenue from operations increased from ₹33.04 crore in FY 2021-22 to ₹54.47 crore in FY 2024-25.
The net profit (PAT) grew from ₹1.13 crore in FY 2021-22 to ₹3.77 crore in FY 2024-25. The company’s net worth also rose from ₹7.79 crore in FY 2021-22 to ₹18.46 crore in FY 2024-25, while reserves and surplus grew from ₹5.97 crore to ₹14.20 crore. Total borrowings decreased from ₹3.71 crore in FY 2021-22 to ₹2.83 crore in FY 2024-25.
