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Syrma SGS Technology climbs 42% in the debut trade against the issue price | Mint – Mint

Shares of Syrma SGS Technology closed trading on Friday at 312.00 per share, a 42% gain over the issue price of 220. The share price of the company was listed at a premium of 19.09% on the BSE and 18.18% on the NSE, respectively, at Rs. 262 and Rs. 260 per share.

On the BSE, the company’s share price ended at Rs. 313.05 per share, a 42.30% gain while on the NSE, it did so at Rs. 312 per share, a 41.82% listing gain. The total number of shares traded on the NSE was 599.61 lakh, while the total number of shares traded on the BSE was 54.77 lakh. On day 1, there was a total trade value of 1901.50 crore including BSE and NSE.

At its closing price today, the company’s market capitalization was Rs. 5,516.85 crore on the BSE and Rs. 5,498.35 crore on the NSE. The IPO was finalized on August 18, 2022, and comprises a new issuance of equity shares of 766 crore and an offer for sale (OFS) of up to 3,369,360 equity shares.

Mr. Sandeep Tandon, Promoter and Executive Chairman – Syrma SGS Technology Limited said “We are humbled by the faith of investors in our company. We are conscious that we are now custodians of the capital of a lac plus shareholders and we have to work even harder to justify their faith in us. We are very confident about the future outlook of the company.”

According to information available on the stock exchanges, the offer got bids for 93,14,84,536 equity shares as opposed to the 2,85,63,816 equity shares offered, at a price range of 209–220. The portion allocated for Qualified Institutional Buyers started at the front and received 87.56 times as many subscriptions. A subscription of 17.50 times was seen by the reserved portion of non-institutional investors. 5.53 times were subscribed for the portion for retail investors. On the last day of bidding, the issue subscribed a total of 32.61 times.

 One of the most rapidly expanding companies with an Indian headquarters, Syrma SGS Technology Limited offers electronic design and production services to local and foreign original equipment manufacturers (ODMs and OEMs).

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