Srigee DLM
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 05 May 2025 – 07 May 2025
- Listing date
- 12 May 2025
- Face value
- ₹10 per share
- Issue price
- ₹99 per share
- Lot size
- 1,200 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹16.98 Cr
- Market cap at offer price
- ₹59.14 Cr
- Promoter holding
- 63.44% → 45.23% pre-issue → post-issue
- ISIN
- INE0RJ901010
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- Plot No.434, Udyog Kendra 2, Ecotech 3, Greater Noida, Uttar Pradesh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 4,84,800 | — | — |
| Market maker | 86,400 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹99
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,18,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,69,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.27 | 8.42 |
| P/E (×) | 13.62 | 11.76 |
| Price to book (×) | 2.90 | — |
| Market cap | — | ₹59.14 Cr |
Key performance indicators
- Return on net worth
- 20.44%
- ROCE
- 25.80%
- Debt / equity
- 0.15
- PAT margin
- 5.69%
- NAV per share
- ₹34.48
- Price to book
- 2.90
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Srigee DLM
Srigee DLM Limited, incorporated in 2005 and converted to a public company in 2023, offers comprehensive end-to-end plastic manufacturing solutions with a focus on design-driven production. The company specializes in plastic injection molding, tool room and die manufacturing, job-work molding, and polymer compounding and trading. Initially focused on plastic injection molding, the company has become backward integrated with in-house die design and testing, polymer compounding, and assembly capabilities. The company serves both OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) clients, with primary focus on white goods segment including major home appliance companies, electrical components, and automotive components. Operations are based in Uttar Pradesh across four manufacturing facilities.
Company Analysis
from RHPSrigee DLM Limited is a design-led plastic injection molding and assembly company serving OEM and ODM customers in consumer electronics, appliances, and automotive sectors.
Srigee DLM Limited, incorporated in 2005 and converted to a public company in 2023, offers comprehensive end-to-end plastic manufacturing solutions with a focus on design-driven production. The company specializes in plastic injection molding, tool room and die manufacturing, job-work molding, and polymer compounding and trading. Initially focused on plastic injection molding, the company has become backward integrated with in-house die design and testing, polymer compounding, and assembly capabilities. The company serves both OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) clients, with primary focus on white goods segment including major home appliance companies, electrical components, and automotive components. Operations are based in Uttar Pradesh across four manufacturing facilities.
Objects of the Issue
- To set up a manufacturing facility at Plot No. 15, Ecotech – X, Industrial Area, Greater Noida, Gautam Budh Nagar, Uttar Pradesh ₹542.78 lakhs p.25
- Acquisition of machineries to be installed at proposed manufacturing facility ₹951.00 lakhs p.25
- General Corporate Purposes p.25
- To set up a manufacturing facility at Plot No. 15, Ecotech – X, Industrial Area, Greater Noida, Gautam Budh Nagar, Uttar Pradesh ₹542.78 lakhs from IPO proceeds p.90
- Acquisition of machineries to be installed at proposed manufacturing facility ₹951.00 lakhs from IPO proceeds p.90
- General Corporate Purposes [●] (to be finalized, not to exceed 25% of Gross Proceeds) p.95
- Issue expenses [●] (estimated) p.96
- To be specified in the prospectus
Issue Structure
- Total Issue
- Up to 17,14,800 equity shares aggregating up to ₹ [●] lakhs
- Fresh Issue
- Up to 17,14,800 equity shares of face value of ₹ 10 each aggregating up to ₹ [●] lakhs
- Offer for Sale
- Nil
- Price Band
- [●] (Floor Price) to [●] (Cap Price)
- Lot Size
- [●] equity shares and in multiples of [●] equity shares thereafter
- Face Value
- ₹ 10 per equity share
Business Model
The company generates revenue primarily through design-led manufacturing of plastic components via plastic injection molding and assembly, tool room and die manufacturing, job-work molding, and polymer compounding and trading. Revenue is earned through OEM and ODM business models, where the company either transforms customer-provided prototypes into production-ready components (OEM model) or partners from initial concept to finished product (ODM model).
Business Segments
SWOT Analysis
- • Experienced management with long-standing customer relationships(p.99)
- • Backward-integrated manufacturing with design and compounding capabilities(p.90)
- • Strong revenue and profitability growth over three years(p.91)
- • Growing EBITDA margins and strong return on net worth(p.101)
- • Low debt-to-equity ratio indicating financial stability(p.101)
- • Strong relationships with established customer base, with potential to expand(p.131)
- • Experienced promoter and management with 19+ years of industry expertise(p.131)
- • End-to-end solution provider with in-house design and development capabilities(p.131)
- • Flexible and cost-effective manufacturing with ISO certifications(p.132)
- • Track record of sustained growth and strong financial performance(p.132)
- • EBITDA margin improvement demonstrating operational efficiencies(p.133)
- • Diversified manufacturing and trading business portfolio(p.195)
- • Consistent revenue and profit growth trajectory(p.229)
- • Improved profitability metrics with strong EBITDA margins(p.229)
- • Low leverage and strong debt-to-equity position(p.230)
- • Positive net worth with strong liquidity(p.230)
- • Established quality certifications and compliance(p.251)
- • High dependence on few key customers for majority of revenues(p.35)
- • High proportion of raw material costs to revenue(p.42)
- • Reliance on a few suppliers for a significant portion of purchases(p.35)
- • Negative cash flows from investing and financing activities in certain recent years(p.36)
- • Inability to obtain required disclosures from promoter group relatives(p.36)
- • Lack of firm commitment agreements with customers(p.38)
- • Past instances of non-compliance with regulatory requirements(p.38)
- • Past delays in filing statutory returns(p.40)
- • Over-utilized production capacity requiring immediate expansion(p.94)
- • Dependence on new manufacturing facility for growth realization(p.51)
- • Lack of independent appraisal of fund deployment plans(p.51)
- • Small scale compared to listed peers, with lower total income(p.100)
- • High dependence on single customer (Symphony Limited represents 47.18% of revenue)(p.144)
- • Limitations in producing large-sized parts restrict certain industrial applications(p.135)
- • Not suitable for low-volume production, leading to inefficiencies in niche or custom segments(p.135)
- • High inventory dependence relative to revenue(p.204)
- • Pending statutory approvals and certifications(p.252)
- • Litigation involving promoter affecting governance(p.247)
- • Unsecured loans from directors creating related-party dependency(p.202)
- • Outstanding tax demands pending resolution(p.245)
- • Dependence on promoter group capital and approval for major decisions(p.266)
- • Substantial expected growth in Indian CEA sector(p.24)
- • Growing prominence of ODM model in the industry(p.24)
- • Government support through Make in India and PLI schemes(p.24)
- • Opportunity to expand and deepen customer relationships(p.44)
- • Backward integration capabilities enabling comprehensive solutions(p.24)
- • India's strong projected GDP growth of 6-6.5% through 2028(p.113)
- • Growing domestic manufacturing sector and rising demand(p.113)
- • Expanding market opportunity with customer base growth(p.91)
- • Strategic expansion into new manufacturing facility to capture market share(p.92)
- • Capacity expansion through new machinery acquisition(p.91)
- • Government support through Make in India and PLI schemes for electronics manufacturing(p.116)
- • India's consumer electronics market projected to double to US$ 17.93 billion by 2025(p.121)
- • Rising domestic consumption driven by urbanization and increased disposable income(p.122)
- • ODM services demand growing with brands outsourcing manufacturing capabilities(p.124)
- • Expansion into new segments like smart wearables and consumer electronics(p.122)
- • India targeting US$ 500 billion electronics production by 2030(p.117)
- • Potential to tap export markets with India aiming for 4-5% of global electronics exports by 2030(p.116)
- • Substantial expansion in manufacturing capacity via capital investments(p.221)
- • Growth in home appliance manufacturing segment driven by seasonal demand(p.229)
- • Shift from labor-intensive to automated operations(p.238)
- • Operating leverage improvement through better capacity utilization(p.240)
- • SME IPO listing providing capital for growth and operational efficiency(p.255)
- • Potential migration to main board with higher market visibility(p.273)
- • Risk that customers may reduce or cease outsourcing manufacturing(p.37)
- • Significant competition in the industry from better-resourced competitors(p.41)
- • Intense price competition pressuring margins(p.41)
- • Dependence on uninterrupted manufacturing facility operations(p.43)
- • Risk of power and water supply disruptions(p.47)
- • Vulnerability to raw material price fluctuations(p.42)
- • Risk of labour unrest and wage increases(p.48)
- • Regulatory compliance risks and changing stringent regulations(p.36)
- • Regulatory changes in India's environmental regulations(p.51)
- • Changes in government regulations and their implementation(p.52)
- • Taxes and levies impact on business profitability(p.52)
- • Global economic and political factors affecting business(p.53)
- • Natural calamities affecting Indian economy and business(p.53)
- • Foreign exchange rate fluctuations impacting shareholder returns(p.54)
- • Terrorist attacks and civil unrest affecting markets and business(p.54)
- • Infrastructure and logistics bottlenecks can disrupt supply chains and increase costs(p.135)
- • Skilled labor and talent shortages may affect productivity and product quality(p.135)
- • Global competition and technological disruptions require constant innovation(p.135)
- • Price hikes driven by rising material costs, rupee depreciation, and excise duty increases(p.121)
- • Deficiency in power supply in most regions affects manufacturing operations(p.121)
- • Challenges in distribution system and inadequacy in prompt after-sales service(p.121)
- • High dependence on few major customers concentrating revenue risk(p.242)
- • Significant working capital pressure from inventory buildup(p.240)
- • Cyclicality in home appliance industry affecting revenue stability(p.238)
- • Capital lease obligations representing significant financial commitment(p.225)
- • Regulatory and compliance risks from pending approvals(p.252)
- • Input price volatility affecting cost of materials(p.234)
- • SME platform dependency and regulatory constraints on trading(p.259)
- • Reliance on market maker for liquidity over three-year minimum period(p.274)
- • Exposure to foreign exchange regulation restrictions for NRI/FPI investors(p.289)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Shashi Kant Singh | Promoter | 47.10% | — |
| Mrs. Suchitra Singh | Promoter | 16.34% | — |
| Shashi Kant Singh | Promoter | 47.10% | 33.58% |
| Suchitra Singh | Promoter | 16.34% | 11.65% |
| Shashi Kant Singh | Promoter | 47.10% | — |
| Suchitra Singh | Promoter | 16.34% | — |
| Shashi Kant Singh | Promoter | 47.10% | — |
| Suchitra Singh | Promoter | 16.34% | — |
| Shashi Kant Singh | Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.