New Delhi: Electronic manufacturing services firm Syrma SGS Technology (SSTL) IPO opens for subscription on Friday, August 12. The Rs 840-crore initial share sale will be available for subscriptions till August 18. The company has fixed a price band of Rs 209-220 per equity share for its IPO. In a statement, firm claimed to raise Rs 252 crore from anchor investors which include 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.
This 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. Companies were not taking the IPO route for fundraising due to the volatility in the markets. In fact, many firms that received Sebi’s go-ahead are waiting for the right time to float their issues as current market conditions are challenging.
Syrma SGS Tech IPO: Price Band
With a price band of Rs 209-220 a share, Syrma SGS Technology IPO will be open for subscription from today till August 18. The public issue of Syrma SGS Technology 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.
Syrma SGS Tech IPO: Key Details
Issue Opening Date: 12-Aug-22
Issue Closing Date: 18-Aug-22
Issue Type: OFFERS FOR SALE CUM FRESH CAPITAL
Issue Size (INR bn): 8.4
Fresh Issue (No.of shares): 36,650,718
Offer for Sale (No.of shares): 3,369,360
Face Value (INR): 10.00
IPO Price Band (INR): 209 to 220
Market Lot (No.of shares): 68
Min Order Quantity: 68
Listing At: BSE / NSE
Pricing Method: BOOKBUILDING
Year of Incorporation: 2004
Total Issue Size (No.of shares): 40,020,078
All You Need to Know About Syrma SGS Technology
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 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. In September 2021, Syrma acquired Gurugram-based SGS Tekniks in a cash and stock deal. Additionally, it acquired Perfect ID in October 2021.