Srigee DLM IPO booked 4.75 times on day 1 so far; check GMP and other details

The SME IPO of Srigee DLM was subscribed within a few hours as the issue kicked-off for bidding on Monday, May 05, 2025. The design-led-manufacturing solutions provider is offering its shares in the range of Rs 94-99 apiece and can be subscribed until Wednesday, May 07, 2025. Investors can apply for a minimum of 1,200 equity shares and its multiples thereafter.

Srigee DLM is eyeing to raise Rs 16.98 crore via IPO, which includes a fresh sale of 17,14,800 equity shares. The company raised around Rs 4.80 lakh crore from anchor investors including Abundantia Capital VCC and Vikasa India EIFI Fund. 86,400 shares are reserved for market makers, while retail, QIB and NIIs will have 19 per cent, 15 per cent and 35 per cent of the issue.

Incorporated in December 2005, Greater Noida-based Srigee DLM began with plastic mouldings for consumer durables. By 2013, Srigee DLM Private Limited diversified into home appliance mouldings and boosted its capacity by adding advanced injection molding machines.

Retail investors can apply for a single lot, or 1,200 equity shares, amounting to Rs 1,18,800. Other investors need to apply for at least two lots or 2,400 equity shares, amounting to Rs 2,37,600. Last heard, Srigee DLM IPO was commanding a grey market premium of Rs 25 per share, suggesting a listing pop of slightly more than 25 per cent for the investors.

As of 1.15 pm on Monday, Srigee DLM saw bids for 54,32,400 equity shares, or 4.75 times for the net issue offered, amounting to Rs 53.78 crore. The quota for NII investors was booked nearly 8 times, while the retail portion was subscribed 6.06 times. However, QIB investors were yet to participate in the issue.

The net proceeds from the issue shall be utilized towards meeting capital expenditure to set up a new manufacturing plant,  acquisition of machinery to be installed at the proposed manufacturing facility and general corporate purposes. The market capitalization of Srigee DLM IPO stood at Rs 59.14 crore.

Srigee DLM Private Limited is engaged in design-led manufacturing and assembly services, specializing in plastic injection moulding, tool room & die manufacturing, mobile phone sub-assembly, and polymer compounding & trading. It caters to industries like consumer durables, home appliances, automotive components, and electronics.

GYR Capital Advisors is the book-running lead manager of the Srigee DLM IPO, while Bigshare Services is the registrar for the issue. The market maker for Srigee DLM IPO is Globalworth Securities. Shares of the company shall be listed on the SME platform of BSE most likely on Monday, May 12.