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Time, List Price, Share Price, Key Details

Syrma SGS Technology is set to debut on Dalal Street on Friday. Syrma SGS Technology will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on August 26 at 10 am. Syrma SGS Technology IPO received decent response from investors during the subscription period The public offer was subscribed 32.61 times against the 2.85 crore shares on offer.

The electronic manufacturing services firm’s public offering opened Aug. 12-18. The price band for the offer was fixed at Rs 209-220 per share. The Sirma SGS Technology IPO consists of a fresh issue of Rs 766 crore and an offer for sale of 33.69 lakh equity shares. At the upper end of the price band, the company was aiming to raise Rs 840 crore.

According to data available with the National Stock Exchange (NSE), the Sirma SGS Technology IPO received bids of 93.14 crore shares against a total issue size of 2.85 crore shares. Shares allotted to Qualified Institutional Buyers (QIBs) were booked 87.56 times. The portion allotted to Institutional Investors (NIIs) was booked 17.50 times. The segment reserved for retail individual investors (RIIs) was subscribed 5.53 times.

Syrma SGS Technology IPO Listing Today: What to Expect

“The Syrma SGS IPO witnessed strong participation from institutional investors as well as retail investors. Although the valuation was on the premium side some listing gain may be seen based on the overall interest shown by investors and considering the company operates in one of the fastest growing sectors in the current market,” said Narendra Solanki Head, Equity Research, Anand Rathi Shares and Stocks brokers.

Considering better than expected investor demand, listing gains of 25-30 per cent can be expected before rebound in the secondary market, said research analyst Prashant Tapase, Senior VP Research, Mehta Equities.

“We are optimistic about the electronics export business model, providing high value integrated design and manufacturing solutions to internationally recognized OEMs. In terms of valuation, in the higher price band, the issue seeks a market cap of Rs 3,877 crore and based on FY21 earnings, the issue appears reasonably priced compared to industry peers.” Tapse added, “We still believe that the high-margin product portfolio and With a high focus on expansion plans, Syrma SGS technology is well-suited to the growing demand for EMS products worldwide.”

Syrma SGS Technology IPO leads GMP list

Gray market premium for Syrma SGS Technology IPO rose to Rs 55 ahead of listing. Listed stocks of Syrma SGS Technology were trading at Rs 275 per equity share in the gray market, about 25 percent higher than the upper price band of the IPO.

“The gray market premium (GMP) of Sarma SGS Technology public issue has been increased from Rs 20 to Rs 55 per equity share. We expect the list to be around Rs 260-270. Based on its financials and earnings, the issue is priced at a P/E of 50+ even at a lower IPO price. The segment in which Syrma SGS technology is operating, is also poised for bright prospects ahead and investors can consider it with a medium to long-term perspective,” said Manoj Dalmiya, Founder & Director, Proficient Equity Pvt.

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