Syrma SGS Technology IPO Listing Opens Today: Check Price Range, Attribution & Listing Date

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Syrma SGS Technology IPO subscription status: Syrma SGS Technology’s IPO is now open for subscription. The company has set a price range of Rs 209-220 per share. The IPO of Syrma SGS will be closed for subscription on August 18.

Syrma SGS Technology IPO Size

Syrma IPO lot size is 68 shares. A lot will cost Rs 14,960 at the upper end of the price range. A retail investor can apply for up to 13 lots (884 shares or Rs 1,94,480).

The Syrma SGS IPO includes a new share issue worth Rs 766 crore and an offer to sell (SFO) of up to 33.69 lakh shares by Veena Kumari Tandon. At the upper end of the price range, the initial share sale is expected to fetch Rs 840 crore.

Net proceeds from the new issue will be used to fund capital expenditure requirements to expand manufacturing, R&D facilities, long-term working capital requirements and general corporate purposes. Half of the issue size was reserved for qualified institutional buyers, 35% for retail investors and the remaining 10% for non-institutional investors.

Syrma SGS IPO attribution date

The attribution of Syrma SGS’s IPO will be on August 23rd. Syrma SGS shares will be credited to the demat account of the successful bidders on August 25.

Syrma SGS IPO date

Syrma SGS IPO shares will be listed on NSE and BSE on August 26.

Ahead of the public offering, the electronics manufacturing services firm said it had 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 shares to anchor investors at Rs 220 each, aggregating the deal size to Rs 252.04 crore, according to a circular uploaded on the BSE 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 major investors, he added.

Syrma SGS would be the first company to tap into the primary market in two and a half months. Previously, Aether Industries’ IPO opened for public subscription from May 24-26. So far in the current financial year, 11 newbies have gone public to raise Rs 33,254 crore. Of these, the 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-driven engineering and design company specializing in turnkey Electronic Manufacturing Services (EMS) and specializing 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 plants in northern India – Himachal Pradesh, Haryana and Uttar Pradesh – and southern India – Tamil Nadu and Karnataka – and three R&D facilities, including two are located in Chennai, Tamil Nadu and Gurgaon, Haryana, and one is located in Stuttgart, Germany.

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