MUMBAI, AUGUST 16, 2022 (GPN): 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), received bids of 2,62,69,148 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. Overall the issue was subscribed up to 92% on the Second day of bidding.

The Retail Investors portion was subscribed 1,56 times. The reserved portion of non-institutional investors witnessed a subscription of 0.74 times. The issue kicked off for subscription on Friday, August 12, and will be open till Thursday, August 18.

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.

KR Choksey, Canara Bank Securities, and Hem Securities have given recommendations for a Subscribe rating to the issue.

According to brokerages, expanding the scope of the EMS sector, combined with the company’s diverse product portfolio, is ideal for capitalizing on the company’s growth opportunity. It has grown at a CAGR of 20.8% between FY20 and FY22, owing to strong demand traction across the industries it serves and a focus on innovation.

The company is diverse, with a constantly evolving and expanding product portfolio and service offerings catering to customers in a variety of industries, and is supported by strong R&D capabilities. Furthermore, the company has established relationships with marquee customers from various countries, as well as cutting-edge manufacturing capabilities backed by a global supplier network, with a focus on vertical integration.

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.

The table below shows subscription data for all the categories of investors:

Cummulative Demand Schedule SYRMA SGS TECHNOLOGY LIMITED Last updated on 16 Aug 2022 | 05:00:00 PM 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 1,904 0.00 1(a) Foreign Institutional Investors (FIIs) – – – 1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) – – – 1(c) Mutual Funds – – – 1(D) Others – 1,904 – 2 Non Institutional Investors(NIIS) 60,03,012 44,66,852 0.74 2.1 Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) 40,02,008 30,76,456 0.77 2.1(a) Corporates – 3,94,536 – 2.1(b) Individuals (Other than RIIs) – 26,72,808 – 2.1(c) Others – 9,112 – 2.2 Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) 20,01,004 13,90,396 0.69 2.2(a) Corporates – 9,520 – 2.2(b) Individuals (Other than RIIs) – 13,16,140 – 2.2(c) Others – 64,736 – 3 Retail Individual Investors (RIIs) 1,40,07,027 2,18,00,392 1.56 3(a) Cut Off – 1,95,52,652 – 3(b) Price Bids – 22,47,740 – 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 2,62,69,148 0.92

BSE subscription Link: https://www.bseindia.com/markets/publicIssues/CummDemandSchedule.aspx?ID=5841