Syrma SGS Technology Limited’s Rs 840 crore Initial Public Offering to open on August 12, 2022, sets price band at ₹209 to ₹220 per Equity Share

Chennai, August 08, 2022: Leading EMS Company Syrma SGS Technology Limited (“The Company”) has fixed the price band at ₹209 to ₹220 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Friday August 12, 2022, for subscription and close on Thursday, August 18, 2022. Investors can bid for a minimum of 68 Equity Shares and in multiples of 68 Equity Shares thereafter.

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

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Promoted and led by Sandeep Tandon and Jasbir Singh Gujral, Syrma SGS, is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (“EMS”) specializes in precision manufacturing.

From Manufacturing High Precision Coils for Hard Disk Drives and USB drives for the IT Industry; Set Top Box requirements for the Home Entertainment Industry; 4G and now 5G Modules for the Telecom Industry; Hall Sensor PCBAs, Vehicle Tracking Systems, Toll Management Systems, Beacons, 4W Lighting System Boards, EV Battery Management Systems for the Automotive End Use Industry; Automatic Dimmers, Induction Cooktop Components, Boiler Management PCBA units, Energy Efficient Electronic Inverters, Home Appliance Control PCBAs for the Consumer Products Industry; Direct Digital Dental X-ray FGPA Controllers, PCBAs for X-Ray Machines, Smart Canes for Visually Challenged People, Augmented Reality Equipment for Ophthalmological Applications addressing the requirements of the Healthcare Industry, the company caters to diverse industries and has come a long way since its incorporation in 2004. It stands to be one of the leading Printed Circuit Board Assembly manufacturers in India and top global manufacturer of custom RFID tags.

Its marquee customers include TVS Motor Company Limited, A. O. Smith India Water Products Pvt. Ltd., Robert Bosch Engineering and Business Solution Pvt Ltd, Eureka Forbes Ltd Limited, CyanConnode Limited, Atomberg Technologies Private Limited, and Total Power Europe B.V. The companies aggregated wallet share from its top 10 and top 20 customers increased by CAGR of 26.20% and 25.79% respectively from FY20 to FY22.

It currently operates through eleven strategically located manufacturing facilities in north India (i.e. Himachal Pradesh, Haryana and Uttar Pradesh) and south India (i.e. Tamil Nadu and Karnataka) and three dedicated R&D facilities, two of which are located in India at Chennai, Tamil Nadu and Gurgaon, Haryana respectively, and one is located in Stuttgart, Germany.

Syrma’s Proforma EBIDTA, considering SGS Tekniks and Perfect ID revenues from operations attributable to the industrial appliances industry, consumer products industry, automotive industry, IT industry and other industries grew at a CAGR of 15.83%, 15.11%, 37.40, 821.03% and 426.59%, respectively from Fiscal 2020 to Fiscal 2022.

Dam Capital Advisors Limited, ICICI Securities Limited, and IIFL Securities Limited are the book running lead manager to the issue and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

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