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In the grey market, the company’s shares are commanding a GMP of Rs 45. Given the strong grey market premium and the impressive subscription response, there will likely be a positive listing performance for Srigee DLM. The GMP suggests upwards of 40% listing premium over the issue price
The IPO witnessed robust demand, being oversubscribed by over 400 times. Among the various investor categories, the non-institutional investor (NII) segment saw a subscription of 1,136 times, retail investors subscribed 243 times, while Qualified Institutional Buyers (QIBs) subscribed 137 times.
Such overwhelming interest highlighted strong investor confidence in the company’s business model and growth potential.
The company plans to utilize the IPO proceeds to establish a manufacturing facility in Greater Noida, acquire machinery, and for general corporate purposes.
As a player in the niche design-led manufacturing sector, Srigee DLM is well-positioned to benefit from the growing demand for customized plastic injection molding solutions across industries.Market participants will closely watch the listing to gauge investor sentiment and whether the stock can sustain its grey market momentum.
Company overview and financials
Srigee DLM is a design-led manufacturing company specializing in plastic injection molding and assembly services, catering to industries such as automotive, consumer electronics, and industrial products. Headquartered in Noida, the company provides end-to-end solutions from product design to final assembly.
In FY24, Srigee DLM reported a revenue of Rs 54.6 crore, with a net profit of Rs 3.1 crore.
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