Syrma SGS Technology IPO subscription status: Syrma SGS Technology IPO is now open for subscription. The company has fixed a price band of Rs 209-220 a share. Syrma SGS IPO will be closed for subscription on August 18.
Syrma SGS Technology IPO size
The Syrma IPO lot size is 68 shares. A lot will cost Rs 14,960 at the upper end of the price band. A retail investor can apply for up to 13 lots (884 shares or Rs 1,94,480).
Syrma SGS IPO comprises a fresh issue of shares worth Rs 766 crore and an Offer For Sale (OFS) of up to 33.69 lakh equity shares by Veena Kumari Tandon. At the upper end of the price band, the initial share-sale is expected to fetch Rs 840 crore.
The net proceeds from the fresh issue will be utilised for funding capital expenditure requirements to expand manufacturing, R&D facilities, long-term working capital requirements and general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors.
Syrma SGS IPO allotment date
Syrma SGS IPO allotment will be done on August 23. Syrma SGS shares will be credited into the demat account of successful bidders on August 25.
Syrma SGS IPO listing date
Syrma SGS IPO shares will be listed n NSE and BSE on August 26.
Ahead of the public issue, the electronic manufacturing services firm said that it has raised Rs 252 crore from anchor investors ahead of its initial share-sale. The company has decided to allocate a total of 114,56,261 equity shares to anchor investors at Rs 220 apiece, aggregating the transaction size to Rs 252.04 crore, according to a circular uploaded on BSE’s website.
Nomura, Kuber India Fund, BNP Paribas Arbitrage, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund (MF), Tata MF, Edelweiss MF and IDFC MF are among the anchor investors, it added.
Syrma SGS would be the first company to tap the primary market in two-and-a-half months. Prior to that, the IPO of Aether Industries was opened for public subscription during May 24-26. So far in the current fiscal, 11 debutants have gone public to garner Rs 33,254 crore. Of these, a lion’s share (Rs 20,557 crore) was raised by a public issue of Life Insurance Corporation of India (LIC).
Syrma SGS is a technology-focused engineering and design company engaged in turnkey Electronics Manufacturing Services (EMS) that specialises in precision manufacturing. Its customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Total Power Europe BV. The company currently operates through 11 strategically located manufacturing facilities in north India — Himachal Pradesh, Haryana and Uttar Pradesh — and in south India — Tamil Nadu and Karnataka — and three R&D facilities, two of which are located in Chennai, Tamil Nadu and Gurgaon, Haryana, and one is located in Stuttgart, Germany.