IPO Alert: Syrma SGS Technology to end near 3 month IPO drought in stock market
In the last three months, the IPO opportunities had disappeared from the market. But after three months, for the first time, a company is going to knock in the IPO market. The name of the company is Syrma SGS Technology, whose IPO is going to open on Friday, August 12, 2022. And till August 18, investors can invest in this IPO.
Rs 209 -220 price band
Engineering and design company Syrma SGS Technology is going to raise Rs 840 crore through IPO and the company has also fixed the price band. For the IPO, the company has fixed the price band at Rs 209-220 per share. A fresh issue of Rs 766 crore is being issued in this IPO. In which the existing investors and promoters are going to sell 33,69,360 shares out of their holdings through IPO. The company can raise Rs 110 crore by allotting 37,93,103 shares through pre-IPO placement.
35% quota for retail investors
The money raised through the IPO will be used to fund capital expenditure for expansion of manufacturing and research and development. Small investors can apply for at least 68 shares for which Rs 14,960 will have to be paid. One can apply for 884 shares for a maximum of Rs 194,480. In the IPO, 50 percent quota is reserved for institutional investors, 15 percent for non-institutional investors and 35 percent for retail investors.
Looking at the financial results of the company, in 2021-22, the company’s revenue has increased by 43 percent to Rs 1267 crore, while the profit has increased by 17 percent to Rs 76.46 crore.
