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.
Company
Information
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”) that 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 a top
global manufacturer of custom RFID tags.
The table below shows
subscription data for all the categories of investors:
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SYRMA SGS TECHNOLOGY LIMITED Last updated on |
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|
Sr.No. |
Category |
No.of shares
offered / reserved |
No. of shares
bid for |
No. of times of
total meant for the category |
|
1 |
Qualified Institutional Buyers (QIBs) |
85,53,777 |
74,89,86,612 |
87.56 |
|
1(a) |
Foreign Institutional Investors (FIIs) |
- |
28,70,97,020 |
- |
|
1(b) |
Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/
Insurance Companies) |
- |
27,49,33,860 |
- |
|
1(c) |
Mutual Funds |
- |
2,39,29,744 |
- |
|
1(D) |
Others |
- |
16,30,25,988 |
- |
|
2 |
Non Institutional Investors(NIIS) |
60,03,012 |
10,50,52,996 |
17.50 |
|
2.1 |
Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) |
40,02,008 |
7,60,93,972 |
19.01 |
|
2.1(a) |
Corporates |
- |
60,27,044 |
- |
|
2.1(b) |
Individuals (Other than RIIs) |
- |
6,47,58,236 |
- |
|
2.1(c) |
Others |
- |
53,08,692 |
- |
|
2.2 |
Non Institutional Investors(Bid amount of more than Two Lakh Rupees
and upto 10 lakh rupees) |
20,01,004 |
2,89,59,024 |
14.47 |
|
2.2(a) |
Corporates |
- |
1,27,296 |
- |
|
2.2(b) |
Individuals (Other than RIIs) |
- |
2,41,96,440 |
- |
|
2.2(c) |
Others |
- |
46,35,288 |
- |
|
3 |
Retail Individual Investors (RIIs) |
1,40,07,027 |
7,74,44,928 |
5.53 |
|
3(a) |
Cut Off |
- |
6,67,87,628 |
- |
|
3(b) |
Price Bids |
- |
1,06,57,300 |
- |
|
4 |
Employee Reserved |
- |
- |
- |
|
4(a) |
Employee (Cut off) |
- |
- |
- |
|
4(b) |
Employee (Price) |
- |
- |
- |
|
5 |
Reservation PortionShareholder |
- |
- |
- |
|
5(a) |
RPS (Cut off) |
- |
- |
- |
|
5(b) |
RPS (Price) |
- |
- |
- |
|
Total |
2,85,63,816 |
93,14,84,536 |
32.61 |
|