Syrma SGS Technology IPO share allotment status: The initial public offering (IPO) of electronic manufacturing services firm Syrma SGS Technology was subscribed 32.61 times over the 2.85 crore shares that were on offer during the subscription period from August 12-18, 2022. The price band was fixed at Rs 209-220 per share.
Syrma SGS Technology IPO received bids of over 93.14 crore (93,14,84,536) shares against the total issue size of over 2.85 crore (2,85,63,816) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 87.56 times, while those of non institutional investors was subscribed 17.50 times and that of retail individual investors (RIIs) was subscribed 5.53 times, the data showed.
The Syrma SGS Tech IPO comprises a fresh issue of shares worth Rs 766 crore and an offer for sale (OFS) of up to 33.69 lakh equity shares by promoter Veena Kumari Tandon.
The net proceeds from the fresh issue will be used for funding capital expenditure requirements for the development of an R&D facility and expansion / setting up of manufacturing facilities, funding our working capital requirements and general corporate purposes.
Syrma SGS Technology is a technology-focused engineering and design firm that is engaged in turnkey electronics manufacturing services (EMS) that specialises in precision manufacturing. Some of its top customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Hindustan Unilever.
Investors are now looking forward to the share allotment date of the Syrma SGS Technology IPO. The company is likely to finalise the allotment by Tuesday, August 23, 2022, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Syrma SGS Tech IPO, then here is how you can check the status of your allotment when it gets declared:
The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Syrma SGS Technology Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.
Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select SYRMA SGS TECHNOLOGY LIMITED from the drop-down list in the Issue Name section, enter their Application Number or PAN Number in the respective box. Then they have to check on the ‘I am not a robot’ box and then click on search to view their status.
The listing of shares of Syrma SGS Technology is likely to take place on Friday, August 26, 2022, on both the NSE and BSE.
DAM Capital Advisors, ICICI Securities and IIFL Securities are the book running lead managers to the IPO.