Syrma SGS Tech IPO: GMP, price band, key details as issue to open for subscription this week
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After a dull period for initial public offerings (IPOs) for the last few months, Syrma SGS Technology will be launching its public issue this week on Friday, August 12, 2022 and the initial share sale will conclude on Thursday August 18, 2022. The price band is fixed at ₹209 to 220 per share.
Syrma SGS Tech’s IPO includes a fresh issue of ₹766 crore and an offer for sale (OFS) of up to 3.37 million shares by promoter. The company aims to raise ₹840 crore through its IPO.
As per market observers, Syrma SGS Technology shares are available at a premium (GMP) of ₹30 in the grey market today. The company’s shares are expected to list on stock exchanges BSE and NSE on Friday, August 26, 2022.
Incorporated in 2004, Syrma SGS Technology Limited is a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS). The company provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation and product realization. The company operates through eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka.
The company aims to use the net proceeds from the fresh share issue for funding capital expenditure requirements to expand manufacturing and R&D facilities and to fund long-term working capital requirements.
DAM Capital Advisors, ICICI Securities, and IIFL Securities are the book-running lead managers for the offer, whereas Link Intime India is the registrar to the issue.
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