Syrma SGS Technology lists at a 19% premium

26 Aug 2022 , 10:09 AM

Syrma SGS Technology made a great first impression on Dalal Street when it was listed at Rs262, a premium of 19% above its BSE issue price of Rs220.

The company is listed on the National Stock Exchange at a premium of 18%, at Rs260 (NSE).

Shares of Syrma SGS Technology were trading at a premium of Rs55—60 a day before becoming public, indicating a successful listing for the business.

Syrma SGS Technology’s initial public offering (IPO), which raised Rs840 crore and was offered at a price between Rs209 and Rs220 per share, was oversubscribed 32.61 times between August 12 and 18.

While the sections intended for non-institutional investors (NIIs) and retailers were subscribed 17.5 times and 5.53 times, respectively, the quota reserved for qualified institutional buyers (QIBs) was subscribed 87.56 times.

One of India’s top and fastest-growing manufacturers of electronic systems is Chennai-based Syrma SGS Technology. It has three specific R&D facilities in Germany’s Stuttgart, India’s Gurgaon, and India’s Chennai.