Upcoming IPOs to Watch Out For: SRM Contractors and Bharti Hexicom

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Upcoming IPOs are catching the eye of investors, with SRM Contractors and Bharti Hexacom leading the pack. SRM Contractors is gearing up for its IPO opening on March 26. Meanwhile, telecom subsidiary Bharti Hexacom is set to debut with its IPO on April 3. These offerings present enticing opportunities for investors.

Let us check the details of upcoming IPOs in the stock market.

SRM Contractors IPO: Opens on 26th March

Established in 2008, SRM Contractors Limited specializes in road construction, including bridges and tunnels. Its work also includes slope stabilization works in the Union Territories of Jammu and Kashmir and Ladakh.

Its major business verticals include planning, construction, and maintenance of roads, bridges, and highways.

The SRM Contractors IPO, scheduled to open from March 26 to March 28, aims to raise Rs 130.2 crore. This shall include the issuance of 62 lakh shares, with a price band of Rs 200-210 per share.

SRM Contractors IPO, here are some important things you should know:

  1. IPO Dates: The IPO will be open for subscription from March 26 to March 28, 2024.
  2. Price Band: The price range for each share is set between Rs 200 and Rs 210.
  3. Offer Details: SRM Contractors aims to raise Rs 130.2 crore through a fresh issue of 62 lakh shares. The anchor book, which opened on March 22, raised Rs 39.06 crore from three investors.
  4. Objectives of Issue: The proceeds from the IPO are to be used for purchasing equipment, working capital, debt repayment, investment in joint ventures, and general corporate purposes.
  5. Company Profile: SRM Contractors specialises in road construction, including bridges, tunnels, and civil construction activities in Jammu & Kashmir and Ladakh.
  6. Financials: In FY23, the company reported a net profit of Rs 18.75 crore on revenue of Rs 300.3 crore. As of December, it had a loan of Rs 32.74 crore.

Invest in these upcoming IPOs with a zero brokerage demat account.

Bharti Hexacom IPO: Opens on 3rd April

Bharti Hexacom, a subsidiary of telecom giant Bharti Airtel, has set the price range for its initial public offering (IPO). The IPO received approval from the Securities and Exchange Board of India (Sebi) on March 11.

SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book-running lead managers.

At the upper price range, Bharti Hexacom’s market value will be Rs 28,500 crore.

  • Bharti Hexacom IPO price band is Rs 542-570 with IPO opening on April 3 and closing on April 5.
  • Investors can trade in Bharti Hexacom IPO shares from April 12.
  • The IPO comprises only an offer-for-sale (OFS) with no fresh issue component.

Telecommunications Consultants India, the only public shareholder, plans to sell 7.5 crore equity shares. This would represent a 15 per cent stake in the OFS.

About Bharti Hexacom IPO

It provides mobile, fixed-line telephone, and broadband services under the Airtel brand in Rajasthan and the North East regions of India.

Bharti Airtel, the promoter owns 70%; Telecommunications Consultants India holds 30%. As per the reports, the IPO allocates 75% to QIBs, 15% to NIIs/HNIs, and 10% to retail investors.

Going ahead, the Bharti Hexacom share allotment basis shall be finalised by April 8.

Successful investors will receive shares in demat accounts by April 10.

Trading of Bharti Hexacom IPO shares will commence on April 12.


With the upcoming IPO opportunities of SRM Contractors and Bharti Hexacom, they stand out as frontrunners in their respective domains. SRM Contractors focuses on infrastructure expansion, and Bharti Hexacom is venturing into telecom. Investors have diverse options to explore. Don’t forget to check their company details and financials before investing.

Source- moneycontrol.com, moneycontrol.com


Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.