Syrma SGS Gets Rs 252 Crores Before IPO

- Advertisement -
- Advertisement -

With its Initial Public Offering (IPO) opening today, the Electronic manufacturing services (EMS) firm Syrma SGS Technology has already raised Rs 252 crore from anchor investors. As per a circular on the BSE site, the company will sell 114,56,261 of its equity shares, at the rate of Rs 220. Some of the investors include Aditya Birla Sun Life Insurance Company, Edelweiss MF, IDFC MF, Kuber India Fund and Tata MF.

The IPO will be open for public subscription till Thursday. There will be a fresh issue of shares worth Rs 766 crore, with a price band of Rs 209-220. At the upper end of the price band, the initial sale of shares will garner around Rs 840 crore. There will also be an Offer For Sale (OFS) of up to 33.69 lakh equity shares. Around half of the issue size is reserved for qualified institutional buyers. And, retail and non-institutional investors are allocated 35% and 10% of the issue size, respectively. The net proceeds from the fresh issue will meet various needs. These include expanding manufacturing and R&D facilities.

This year, 11 companies have tried to tap the primary market so far. They have piled up around Rs 33,254 crore. Out of these, the biggest beneficiary has been LIC. After the IPO of Aether Industries in May, this is the first company to open for public subscription.

- Advertisement -

Syrma SGS is a technology-focused engineering and design company engaged in turnkey EMS that specialises in precision manufacturing. AO Smith India Water Products, Eureka Forbes Robert Bosch Engineering and Business Solution, Total Power Europe BV and TVS Motor Company, are its customers. Last year, Syrma acquired Gurugram-based SGS Tekniks and Perfect ID.


 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Agriculture drone spraying water fertiliser on the sunflower field

Rising Drone Startups Giving Rise To Balanced Drone Ecosystem, India

0
Ban on drone imports, restrictions on foreign operators, alongside simplified permission processes and relaxed rules for domestic drones drive the Indian drone market.  The Indian...

ICE To EV Transition Likely Boosts Auto Sector Jobs

0
A report by the International Forum for Environment Sustainability and Technology predicts that India's total vehicle production will double by FY31 and triple by...

Element14 Offers Traco Power Product Line Featuring TMPW Series

0
Electronics and industrial design engineers can use these ultra-compact AC/DC power supplies, which come in PCB and chassis mount configurations, for their critical building...

Buzz

Delhi Solar Energy Policy Introduces Hybrid RESCO Model In India

0
The policy offers Generation Based Incentives (GBI) for five years to domestic, commercial, and industrial consumers.  The Delhi government has launched the Delhi Solar Energy...

Kerala’s ‘chargeMOD’ To Add 1,200 EV Chargers In India

0
'chargeMOD' is expanding its deployment of electric vehicle (EV) chargers in India, emphasizing quality and affordability. The introduction of Ultra Fast Chargers is part...
Union Minister Ashwini Vaishnaw Inaugurating the Chennai Design Centre with Qualcomm CEO, Cristiano Amon

Qualcomm To Plan India’s Electronics Growth, Inaugurates End-to-End Design Center in Chennai

0
The wireless tech design centre will employ 1600 skilled semiconductor designers. Qualcomm will set up 6G labs in the country. The company will...

Important Sectors

Delhi Solar Energy Policy Introduces Hybrid RESCO Model In India

0
The policy offers Generation Based Incentives (GBI) for five years to domestic, commercial, and industrial consumers.  The Delhi government has launched the Delhi Solar Energy...

Kerala’s ‘chargeMOD’ To Add 1,200 EV Chargers In India

0
'chargeMOD' is expanding its deployment of electric vehicle (EV) chargers in India, emphasizing quality and affordability. The introduction of Ultra Fast Chargers is part...

Okaya To Supply 600 EV Chargers To HPCL Pan India

0
This initiative aims to enhance EV accessibility and convenience nationwide, featuring advanced safety features and certifications.  In a move for India's sustainable transportation sector, Okaya...

India’s EV Policy: Leveling the Playing Field For Manufacturers

0
This policy benefits new entrants and supports existing players planning to invest in EVs, ensuring a level playing field for all. The Indian government has...

E2W Sales Projected To Surpass One Million Units In 2024-2025

0
ICRA forecasts that the market share of electric two-wheelers will reach 6-8% in the fiscal year 2025. Electric two-wheeler (e-2W) sales in India are approaching...

Manufacturing

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...

Uno Minda Prepares For Expected Surge In Aftermarket Parts Demand

0
Rakesh Kher, CEO of Uno Minda's Aftermarket Division, notes that the availability of EV replacement parts in the aftermarket will not be immediate. Uno Minda,...