This Week’s Syrma SGS Technology IPO Details, GMP, and Important Dates

This Week’s Syrma SGS Technology IPO Details, GMP, and Important Dates

Syrma SGS Technology IPO: Electronic manufacturing services provider Syrma SGS Technology announced that it will launch its Rs 840 crore first share sale on Friday, August 12, ending 80 days of market uncertainty and a gap of 2.5 months in the initial public offering (IPO) market. For its initial public offering, the company set a price range of Rs 209–220 per equity share. The main market mood has been affected by weak sentiment in the secondary markets and sluggish demand for more than a dozen public offerings that were launched in May following the massive IPO from state-owned LIC.

Syrma SGS Technology IPO: Issue Size, Date

A fresh issue of shares valued at Rs 766 crore and an offer for sale (OFS) of up to 33.69 lakh equity shares by Veena Kumari Tandon are included in Syrma SGS Technology’s public offering. The company anticipates raising Rs 840 crore at the top of the price range. On August 12, the public issue will begin, and it will end on August 18.

Syrma SGS Technology IPO: Objective

The fresh issue’s net proceeds will be used to cover long-term working capital needs, general company purposes, and capital expenditures needed to expand manufacturing and R&D facilities.

Syrma SGS Technology IPO: About the Company

The turnkey electronics manufacturing services (EMS) provider Syrma SGS specializes in precision manufacturing for a variety of end-use industries, including industrial appliances, automotive, healthcare, consumer goods, and IT. Syrma SGS is a technology-focused engineering and design firm. Printed circuit board assemblies (PCBA), radio frequency identification (RFID) devices, electromagnetic and electromechanical parts, motherboards, DRAM modules, solid state drives, USB drives, and other memory products are among the range of goods the company offers to many industries.

At the time of filing the RHP, the business’s promoters, Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon, and Tom Electronics, owned 57.12% of the stock, while investors South Asia Growth Fund II, Holdings LLC, and Malabar Select Fund held 7.53% and 1.222%, respectively, of the company.

Syrma SGS Technology IPO: Financials

On the strength of its excellent top line and operating performance, the company reported a 16.6% year-over-year increase in proforma profit at Rs 76.46 crore for the year ended March 2022. In comparison to the year ending March 2021, pro forma revenue from operations increased by 43% to Rs 1,266.6 crore and pro forma EBITDA increased by 23% to Rs 143.70 crore. Earnings before interest, taxes, depreciation, and amortization are known as EBITDA.

Syrma SGS Technology IPO: Allotment, Listing Dates

By August 23, the business will have decided on the basis for the share allocation, and by August 24, it will start initiating reimbursements for unsuccessful investors. By August 25, qualifying investors’ Demat accounts will receive credit for their equity shares.

Syrma SGS Technology IPO: GMP Today

According to market watchers, Syrma SGS Technology shares are currently trading on the black market for a premium (GMP) of Rs 30. On Friday, August 26, 2022, the company’s shares are anticipated to list on the BSE and NSE stock markets.

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