Syrma SGS Technology IPO opens on 12 August; check share price, IPO size here

The public issue of Syrma SGS Technology, a Chennai-based engineering and design company, will open for subscription later this week. The Initial Public Offering (IPO) of the company will start from 12 August and continue till 18 August. The shares of Syrma SGS Technology will be priced in the range of Rs 209-220 per equity. The stock will have a face value of Rs 10, as per the Bombay Stock Exchange (BSE). According to the Red Herring Prospectus of the company, the public issue will have a fresh issue of shares worth Rs 766 crore as well as an offer for sale (OFS) of up to 3,369,360 shares by promoter Veena Kumari Tandon. IPO The bidding for anchor investors will open on 11 August. Link Intime India Private Limited is the registrar of the Syrma SGS Technology IPO. ICICI Securities Limited, IIFL Securities Limited and DAM Capital Advisors Limited are the book running lead managers. As per the RHP, 50 percent of the issue will be reserved for Qualified Institutional Buyers (QIBs). Of the remaining issue, 15 percent will be on offer for Non-Institutional Investors (NII) and the remaining 35 percent will be set aside for retail investors. Bid details: Investors can bid for a minimum of one lot or 68 shares. At the upper range of the price band, bidders will have to shell out Rs 14,960 for one lot of the Syrma SGS Technology public issue. Utilisation of funds: Syrma SGS Technology will utilise the money from the fresh issue for expansion and setting up of manufacturing facilities, working capital requirements and developing the company’s research facilities. The money from the OFS will be received by the selling promoter. Grey market price: According to reports, the grey market premium of the Syrma SGS Technology IPO is Rs 30. This means that the share is expected to list at a premium of Rs 30 on the markets. Company details: Syrma SGS Technology is a technology-focused engineering and design company that is involved in turnkey electronics manufacturing services (“EMS"). It also specialises in precision manufacturing for diverse end-use industries and is one of the fastest growing Indian-headquartered ESDM companies. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.