Srigee DLM share price: Stock makes a bumper listing at 90% premium; here's how much investors earned per lot

Srigee DLM share price: Shares of Srigee DLM Ltd made a bumper debut on the BSE SME platform on Monday, May 12.

The stock listed at ₹188.10 per share, a premium of a whopping 90%, over the issue price of ₹99 apiece.

Srigee DLM share price: here's how much investors earned per lot

As the minimum lot size was 1,200 shares, investors who were allotted Srigee DLM shares made gains of ₹1,06,920 per lot (₹188.10 x 1,200).

The initial share sale was solely a fresh issue of ₹16.98 crore, with a price band of ₹94 to ₹99 per equity share.

The money raised will be used to establish a manufacturing unit, acquire machinery, meet working capital requirements and serve general corporate purposes.

The initial public offer had received a strong subscription of 456.80 times as investors placed bids for 56,18,60,400 shares as against 12,30,000 shares on offer.

The retail investors’ quota was subscribed 243.71 times, while the non-institutional investors’ (NIIs) portion was booked 1,136.02 times. The qualified institutional buyers (QIBs) received 137.59 times the subscription.

Srigee DLM offers design-led manufacturing and assembly services, with a key focus on plastic injection moulding, mobile phone sub-assembly, tool room and die manufacturing and polymer compounding and trading. It caters to industries like consumer durables, automotive components, home appliances, and electronics.

The company had reported a revenue from operations of 54.65 crore in the financial year 2023-24, compared to ₹47.25 crore a year back. The net profit surged to ₹3.1 crore in FY24 from ₹2.81 crore in the previous fiscal year.