Finally, the dull period in the primary market is coming to an end with Syrma SGS Technology IPO. The electronic manufacturing services firm Syrma SGS Technology IPO is coming out with the IPO starting on 12th August. This IPO will mark the end of dull period of two and half months of gap since the last IPO.
Syrma SGS Technology IPO Details
Syrma SGS Technology IPO size is Rs. 840 crores. You may apply for the IPO from 12th August till 18th August. The price band per equity share has been fixed at Rs. 209 – Rs. 220. The allotment will be finalised by 23rd August and unsuccessful investors will receive the refunds by 24th August. The equity shares will be credited in the demat account of eligible shareholders by 25th August. The issue will comprise of fresh issue of shares worth Rs. 776 crores and an offer for sale (OFS) of 33.69 lakh equity shares held by Veena Kumari Tandon.
Market Lot : 68 Shares
IPO Opening : Date Aug 12 2022
IPO Price : Rs.209 To Rs.220 per equity share
Issue Size : Rs.840 cr
IPO Closing : Date Aug 18,2022
Objective of IPO
The money received from the IPO will be utilised by the company for funding its capital expenditure requirements including expansion, long term working capital requirements, R&D facilities and meeting other regular corporate expenses.
About Company
Syrma SGS Technology Limited is a Chennai based company. It was incorporated in 2004 and it is engaged in electronics manufacturing services. The company offers a wide range of services and solutions to OEMs. The product portfolio of this engineering and design company in electronic manufacturing services comprises of the following;
· Motherboards
· Radio frequency identification (RFID) products
· Memory products, USB drives, etc.
· Printed circuit board assemblies (PCBA)
· Electromagnetic and electromechanical parts
57.2% of the shareholding is held by promoters Veena Kumari Tandon, Jasbir Singh Gujral, Sandeep Tandon and Tancom Electronics. Other investors holding approximately 9% in the company include Holdings LLC, South Asia Growth Fund II, and Malabar Select Fund.