Ahead of its listing, the shares of the company are trading at a premium of Rs 15 per share in the unlisted space.
The IPO of SGS Technology is a mix of a fresh issue of equity shares and an offer for sale (OFS) by existing investors of the company. Of the Rs 840 crore issue, Rs 766 crore is a fresh issue of equity and Rs 74 crore is an offer for sale (OFS). The company has said that of the amount raised, it will utilize Rs 132 crore for working capital and Rs 403 crore will be deployed for capacity expansion at its Chennai plant. “Considering its good peer financial performance, strong focus on R&D, capacity expansion plans, positive industry outlook with government support through PLI schemes and China plus one strategy of multinational companies, we assign a “Subscribe” rating for the issue on a medium to long term basis,” analysts said. Non-Institutional Investors (NII) have subscribed to the issue 0.63 times with bids coming in for 37,91,952 equity shares against the 60,03,012 shares on offer for NIIs. Qualified Institutional Buyers (QIB) are yet to enter the primary market for Syrma SGS Technology shares in significant numbers bids received for just 952 shares. The Rs 840-crore public issue is still open for subscription for investors till Thursday, August 18 and investors can bid for the shares of the engineering and design company in the fixed price band of Rs 209-220 per share. Retail investors have subscribed to 2,05,79,180 equity shares of Syrma SGS Technology against the 1.4 crore on offer for the category at the market closing on Tuesday. This is 0.1.47 times the portion reserved for them.
Syrma SGS Technology IPO: The electronics system design and manufacturing company is looking to raise Rs 766 crore through the fresh issue and Rs 74.12 ...
The issue has got a good response from retail investors who bought 1.56 times the shares set aside for them by Day 2 of the bidding. Qualified institutional buyers (QIBs) bought 1,904 shares against the reserved portion of 85.53 lakh shares. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Brokerage firms have mixed opinions on the counter. However, the majority of them have suggested subscribing to the issue with a word of caution over the ...
"Syrma is well placed to capitalize on domestic and global opportunities. The remaining 35 per cent shares will be given to the retail bidders. The issue kicked off for bidding on Friday, August 12 and will remain open till Thursday, August 18.
The offer got bids for 2,62,69148 shares against 2,85,63816 shares on offer, according to the NSE data.
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Syrma SGS Tech IPO: The initial share sale — the first to hit the Street in 11 weeks — will close for subscription on August 18. Potential investors can bid ...
Potential investors can bid for Syrma SGS shares in a range of Rs 209-220 apiece in multiples of 68 under the subscription window. The IPO is a combination of fresh issuance of shares worth up to Rs 766 crore and an offer for sale worth up to Rs 74 crore by existing shareholders. Syrma SGS Technology's initial public offering (IPO) to raise up to Rs 840 crore was subscribed 77 percent so far on Tuesday, the second day of the bidding process.
KR Choksey, Canara Bank Securities, and Hem Securities have given recommendations for a Subscribe rating to the issue. According to brokerages, expanding the ...
It has grown at a CAGR of 20.8% between FY20 and FY22, owing to strong demand traction across the industries it serves and a focus on innovation. The reserved portion of non-institutional investors witnessed a subscription of 0.74 times. Overall the issue was subscribed up to 92% on the Second day of bidding.
The portion reserved for retail individual investors (RIIs) received 1.56 times as many bids, and 74% of the shares were subscribed. A fresh issue of equity ...
Chrissy Teigen and At the Tuesday America’s Got Talent taping at the Sheraton Pasadena Hotel in Pasadena, California, Heidi Klum and Sofia Vergara were the stars of the entrance. Britain is now facing thunderstorms and flash flooding as the Met Office issues yellow and amber warnings for parts of England and Wales following weeks of hot, dry weather that caused drought and dried out the land. Parts of England and Wales receive THUNDERSTORM warnings in amber and yellow from the Met Office.
Prior to that, the IPO of Aether Industries was open for public subscription during May 24-26.At the upper end of the price band, the initial share-sale is ...
Prior to that, the IPO of The IPO has a fresh issue of equity shares aggregating to Rs 766 crore and an offer for sale of up to 33,69,360 equity shares. Prior to that, the IPO of Aether Industries was open for public subscription during May 24-26.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, RD facilities, long-term working capital requirements and general corporate purposes.DAM Capital Advisors, ICICI Securities and IIFL Securities are the book running lead managers to the offer.Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services EMS.
Syrma SGS Technologies IPO (initial public offering) opened for subscription on 12th August 2022 and it will remain open for bidding till 18th August 2022.
According to market observers, Syrma SGS Technologies shares are available at a premium of ₹40 per share. Meanwhile, premium of Syrma SGS Technologies shares has surged in grey market. Updated: 17 Aug 2022, 03:54 PM IST