Day 3 subscription for the Syrma SGS Technology IPO was 2.27 times

18 Aug 2022 , 10:49 AM

According to information available on the stock exchanges, Syrma SGS Technology’s Initial Public Offering (IPO), one of the fastest-growing Indian-headquartered providers of electronic design and manufacturing services for international and domestic Original Design and equipment manufacturers (ODMs and OEMs), received bids of 6,48,39,020 shares versus the offered 2,85,63,816 equity shares at a price range of Rs 209—220. On the third day of bidding, the issue was subscribed 2.27 times overall.
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3.58 times as many non-institutional investors in the restricted portion subscribed. The Retail Investors segment received 2.66 times as much interest. The share set aside for Qualified Institutional Buyers received 0.71 times as much interest. The issue’s subscription period opened on Friday, August 12, and it ends on Thursday, August 18, this week.
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The initial public offering (IPO) comprises of an offer for sale (OFS) of up to 3,369,360 equity shares and a fresh issue of equity shares totaling Rs766 crore.
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Prior to its inaugural share sale yesterday, Syrma SGS Technology Limited received Rs252 crore from anchor investors. Through its IPO, the company hopes to raise Rs840 crore.
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The business is diversified, with a service and product portfolio that is constantly growing and catering to consumers in several industries, and it has excellent R&D capabilities. The company also has contacts with prestigious clients from different nations and cutting-edge production capabilities supported by a worldwide supplier network with a focus on vertical integration.
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The issue’s book-running lead managers are Dam Capital Advisors Limited, ICICI Securities Limited, and IIFL Capital Services Limited, and its registrar is Link Intime India Private Limited.