Syrma SGS mobilizes over Rs 19,400 crore demand; Issue subscribed 32.61 times on the final day

Chennai, August 18, 2022: The Initial Public Offering (IPO) of Syrma SGS Technology, one of the fastest growing Indian headquartered providers of electronic design and manufacturing services for global & domestic Original Design and equipment manufacturers (ODMs and OEMs), has mobilized over Rs 19,400 crore demand from all the categories of investors. Overall the issue was subscribed 32.61 times on the final day of bidding.

The offer received bids of 93,14,84,536 equity shares against the offered 2,85,63,816 equity shares, at a price band of Rs 209-220, according to the data available on the stock exchanges. The portion reserved for Qualified Institutional Buyers led from the front and was subscribed 87.56 times. The reserved portion of non-institutional investors witnessed a subscription of 17.50 times. The Retail Investors portion was subscribed 5.53 times.

The IPO consists of a fresh issue of equity shares aggregating to Rs 766 crore and an offer for sale (OFS) of up to 3,369,360 equity shares.

Syrma SGS Technology Limited raised Rs 252 crore from anchor investors yesterday ahead of its initial share sale. The company aims to raise Rs 840 crore through its IPO.

Dam Capital Advisors Limited, ICICI Securities Limited, and IIFL Securities Limited are the book running lead managers to the issue, and Link Intime India Private Limited is the registrar of the Issue.

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