Srigee DLM, a plastic injection moulding manufacturer, delivered a blockbuster stock market debut on the BSE SME platform on May 12, listing at ₹188.10 per share, which is a 90 percent premium over its issue price of ₹99. This exceptional performance exceeded even the grey market premium (GMP) expectations of around 45 percent.

The strong debut underlines robust investor confidence, particularly after the company's IPO received a whopping 457 times subscription, one of the most oversubscribed SME IPOs of the year.

IPO Highlights and Market Buzz Before Listing

Before its listing, the buzz around Srigee DLM had already caught market attention, thanks to a steady grey market premium. As per data from Investorgain, the company's unlisted shares were commanding a GMP that projected a listing price of around ₹144, already a significant jump from the issue band of ₹94–99.

Yet, the stock stunned the market with its ₹188.10 opening price, far outpacing expectations and reaffirming the power of retail and HNI participation in India's SME IPO space.

Unprecedented IPO Subscription

Srigee DLM's ₹16.98 crore IPO was open for subscription from May 5 to May 7, and investors rushed to grab their share. The issue saw 457 times oversubscription, a clear sign of strong demand and investor enthusiasm.

• Non-Institutional Investors (NIIs) led the charge, oversubscribing their portion by an eye-popping 1,136 times.

• Retail investors followed closely, subscribing 244 times.

• Qualified Institutional Buyers (QIBs) booked their quota around 138 times.

These figures illustrate not just retail interest, but also institutional faith in Srigee DLM’s business model and growth prospects.

Pre-IPO Anchor Investment Boosts Confidence

Even before the IPO was opened to the public, Srigee DLM had raised ₹4.8 crore on May 2 through anchor investors, which included Abundantia Capital and Vikasa India EIF I Fund. These institutional investors were allotted 4.84 lakh shares at ₹99 per share, the upper end of the price band.

This early capital infusion from reputed investors further strengthened market confidence, creating a solid foundation for the IPO’s success.

Utilisation of Funds

The funds raised through the IPO are earmarked for strategic expansion and operational upgrades. Srigee DLM plans to:

• Set up a new manufacturing facility in Greater Noida, Uttar Pradesh.

• Acquire advanced machinery to improve production capacity and efficiency.

• Allocate a portion of funds for general corporate purposes, ensuring smoother day-to-day operations and scalability.

This expansion is expected to not only strengthen the company’s domestic production footprint, but also better serve clients in automotive, electronics, and consumer goods sectors.

About Srigee DLM

Srigee Digital Lab Manufacturing Pvt Ltd (Srigee DLM) is engaged in plastic injection moulding solutions. The company primarily provides precision manufacturing services to a wide array of industries, including:

• Consumer Electronics

• Home Appliances

• Automotive Components

• Packaging

With a strategic focus on customised plastic solutions, Srigee DLM has carved a niche for itself in an industry that is gradually witnessing increased automation and higher demand for precision components.

Industry Outlook and Competitive Edge

The plastic injection moulding industry in India is growing steadily, driven by rising demand in automotive and electronic sectors. Srigee DLM is strategically positioned to benefit from this trend due to:

• Customised moulding capabilities

• Focus on quality and timely delivery

• Plans to scale with enhanced infrastructure

The planned manufacturing unit in Greater Noida is expected to enhance production output and position Srigee DLM competitively for high-volume orders.

Merchant Banker Behind the Issue

The IPO was managed by GYR Capital Advisors, a seasoned merchant banker in India’s SME market. Their role included:

• Structuring the IPO

• Managing investor outreach

• Ensuring regulatory compliance

The success of this IPO is a testament to their effective marketing and distribution strategy, particularly in a market that’s increasingly dominated by retail-driven growth.

Conclusion: Srigee DLM's IPO Sets Benchmark for SME Listings

Srigee DLM’s stellar stock market debut not only validates its business fundamentals but also sets a new benchmark for SME listings in India. The massive oversubscription, combined with a 90 percent listing gain, highlights the strong appetite for well-managed SME businesses among both institutional and retail investors.

As the company gears up for its next growth phase with new manufacturing investments, all eyes will be on how it continues to perform on the financial and operational fronts.

Srigee DLM, a plastic injection moulding manufacturer, delivered a blockbuster stock market debut on the BSE SME platform on May 12, listing at ₹188.10 per share, which is a 90 percent premium over its issue price of ₹99. This exceptional performance exceeded even the grey market premium (GMP) expectations of around 45 percent.

The strong debut underlines robust investor confidence, particularly after the company's IPO received a whopping 457 times subscription, one of the most oversubscribed SME IPOs of the year.

IPO Highlights and Market Buzz Before Listing

Before its listing, the buzz around Srigee DLM had already caught market attention, thanks to a steady grey market premium. As per data from Investorgain, the company's unlisted shares were commanding a GMP that projected a listing price of around ₹144, already a significant jump from the issue band of ₹94–99.

Yet, the stock stunned the market with its ₹188.10 opening price, far outpacing expectations and reaffirming the power of retail and HNI participation in India's SME IPO space.

Unprecedented IPO Subscription

Srigee DLM's ₹16.98 crore IPO was open for subscription from May 5 to May 7, and investors rushed to grab their share. The issue saw 457 times oversubscription, a clear sign of strong demand and investor enthusiasm.

• Non-Institutional Investors (NIIs) led the charge, oversubscribing their portion by an eye-popping 1,136 times.

• Retail investors followed closely, subscribing 244 times.

• Qualified Institutional Buyers (QIBs) booked their quota around 138 times.

These figures illustrate not just retail interest, but also institutional faith in Srigee DLM’s business model and growth prospects.

Pre-IPO Anchor Investment Boosts Confidence

Even before the IPO was opened to the public, Srigee DLM had raised ₹4.8 crore on May 2 through anchor investors, which included Abundantia Capital and Vikasa India EIF I Fund. These institutional investors were allotted 4.84 lakh shares at ₹99 per share, the upper end of the price band.

This early capital infusion from reputed investors further strengthened market confidence, creating a solid foundation for the IPO’s success.

Utilisation of Funds

The funds raised through the IPO are earmarked for strategic expansion and operational upgrades. Srigee DLM plans to:

• Set up a new manufacturing facility in Greater Noida, Uttar Pradesh.

• Acquire advanced machinery to improve production capacity and efficiency.

• Allocate a portion of funds for general corporate purposes, ensuring smoother day-to-day operations and scalability.

This expansion is expected to not only strengthen the company’s domestic production footprint, but also better serve clients in automotive, electronics, and consumer goods sectors.

About Srigee DLM

Srigee Digital Lab Manufacturing Pvt Ltd (Srigee DLM) is engaged in plastic injection moulding solutions. The company primarily provides precision manufacturing services to a wide array of industries, including:

• Consumer Electronics

• Home Appliances

• Automotive Components

• Packaging

With a strategic focus on customised plastic solutions, Srigee DLM has carved a niche for itself in an industry that is gradually witnessing increased automation and higher demand for precision components.

Industry Outlook and Competitive Edge

The plastic injection moulding industry in India is growing steadily, driven by rising demand in automotive and electronic sectors. Srigee DLM is strategically positioned to benefit from this trend due to:

• Customised moulding capabilities

• Focus on quality and timely delivery

• Plans to scale with enhanced infrastructure

The planned manufacturing unit in Greater Noida is expected to enhance production output and position Srigee DLM competitively for high-volume orders.

Merchant Banker Behind the Issue

The IPO was managed by GYR Capital Advisors, a seasoned merchant banker in India’s SME market. Their role included:

• Structuring the IPO

• Managing investor outreach

• Ensuring regulatory compliance

The success of this IPO is a testament to their effective marketing and distribution strategy, particularly in a market that’s increasingly dominated by retail-driven growth.

Conclusion: Srigee DLM's IPO Sets Benchmark for SME Listings

Srigee DLM’s stellar stock market debut not only validates its business fundamentals but also sets a new benchmark for SME listings in India. The massive oversubscription, combined with a 90 percent listing gain, highlights the strong appetite for well-managed SME businesses among both institutional and retail investors.

As the company gears up for its next growth phase with new manufacturing investments, all eyes will be on how it continues to perform on the financial and operational fronts.