Syrma SGS Technology IPO Launches Today, Read Complete Review
Syrma SGS Technology IPO is launched today. The price band will be in the range of ₹209 – ₹220. Here is the complete review of the IPO with all details.
The initial public offering (IPO) of Syrma SGS Technology is now open for subscription. Bidding will be accepted through August 18th, 2022.
The 840 crore public offering aims to raise 766 crore through new issues. The price range for the public offering has been set at 209 to 210 rupees per equity share, and shares of the engineering and design firm with its headquarters in Chennai are now also available on the black market.
Market watchers report that the equity share price of Syrma SGS Technology Ltd. is trading at a premium of $20.
Syrma SGS Technology IPO Review & Details
Here is the complete review of Syrma SGS Technology IPO with all important details:
1) GMP – Syrma SGS Technology IPO
As was already mentioned, the current gray market premium (GMP) for the Syrma SGS Technology IPO is $20.
The Syrma SGS Technology IPO GMP was 10 on Thursday night, meaning that the anticipated share’s gray market premium had doubled in the previous day.
2) Price Band – Syrma SGS Technology IPO
The price range for the public offering of shares was between $209 and $220.
3) Subscription Status – Syrma SGS Technology IPO
The retail component of the public issue has been subscribed 0.43 times as of 12:57 PM on the first day of subscription date, while the public issue has been subscribed 0.22 times.
4) IPO Size – Syrma SGS Technology IPO
With its public offering, the engineering company Syrma SGS Technology hopes to raise 840 crore rupees.
5) IPO Lot Size – Syrma SGS Technology IPO
A bidder will be able to submit applications in lots, and each lot will include 68 shares of the Syrma SGS Technology.
6) Financials – Syrma SGS Technology IPO
The company recorded revenues for FY20, FY21, and FY22 of $2,804.3 million, $1,931.3 million, and $2,521.2 million, respectively, of which 70%, 43.9%, and 39.5%, respectively, were attributed to its initial project manufacturing services.
The business has a wide range of products with uses in numerous end-use sectors. The end-use industries it serves with its products include those in the healthcare, IT, automotive, industrial appliances, power supply, energy management, water purification, and consumer products sectors.