Syrma SGS Technology IPO
Syrma SGS Technology IPO incorporated in 2004, Syrma SGS Technology Limited is a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS). The company provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation and product realization.
Product Portfolio
- Printed circuit board assemblies (PCBA)
- Radio frequency identification (RFID) products
- Electromagnetic and electromechanical parts
- Motherboards
- Memory products – DRAM modules, solid state, and USB drives.
Manufacturing
The company operates through eleven manufacturing facilities in north India (i.e. Himachal Pradesh, Haryana, and Uttar Pradesh) and south India (i.e. Tamil Nadu and Karnataka). The manufacturing facilities in Tamil Nadu are located in a special economic zone. The manufacturing facility in Haryana has been set up under the Electronic Hardware Technology Park scheme, which allow the company to avail tax and other benefits.
R&D Capabilities
The company has three dedicated R&D facilities, two of which are located at Chennai and Gurgaon and one in Stuttgart, Germany.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-19 | 286.42 | 357.4 | 20.97 |
| 31-Mar-20 | 346.7 | 404.88 | 43.88 |
| 31-Mar-21 | 460.01 | 444.48 | 28.62 |
| Amount in ₹ Crore |
Objects of the Issue
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding capital expenditure requirements for the development of an R&D facility and expansion / setting up of manufacturing facilities.
- Funding long-term working capital requirements.
- General corporate purposes.
Syrma IPO Details
| Syrma IPO Date | Aug 12, 2022 to Aug 18, 2022 |
| Syrma IPO Face Value | ₹10 per share |
| Syrma IPO Price | ₹209 to ₹220 per share |
| Syrma IPO Lot Size | 68 Shares |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹840.00 Cr) |
| Fresh Issue | [.] shares of ₹10 (aggregating up to ₹766.00 Cr) |
| Offer for Sale | 3,369,360 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the the Offer |
| Company Promoters | The promoters of the company are Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon and Tancom Electronics Private Limited.Promoters collectively hold 58.78% of the Equity Share as of Dec 31st, 2021. |
Syrma SGS Technology IPO Timeline
Syrma IPO opens on Aug 12, 2022, and closes on Aug 18, 2022. The Syrma IPO bid date is from Aug 12, 2022 10.00 A.M. to Aug 18, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Syrma IPO Opening Date | Aug 12, 2022 |
| Syrma IPO Closing Date | Aug 18, 2022 |
| Basis of Allotment | Aug 23, 2022 |
| Initiation of Refunds | Aug 24, 2022 |
| Credit of Shares to Demat | Aug 25, 2022 |
| Syrma IPO Listing Date | Aug 26, 2022 |
Syrma IPO Lot Size
The Syrma IPO lot size is 68 shares. A retail-individual investor can apply for up to 13 lots (884 shares or ₹194,480).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 68 | ₹14,960 |
| Maximum | 13 | 884 | ₹194,480 |
Syrma IPO Review
The company did a pre-IPO placement at Rs. 290 a few months back and now it is coming with IPO at Rs. 220 (at the upper cap). This really augurs well for this IPO, but based on its financial data and earnings, the issue is priced at a P/E of 50+ even at lower IPO pricing. The company is focusing on a high-margin product portfolio. The segment in which SSTL is operating is also poised for bright prospects ahead. Hence investors may consider an investment with medium to long-term perspectives.
Syrma IPO Subscription Status
The Syrma IPO is subscribed 32.59 times on Aug 18, 2022 4:44:00 PM. The public issue subscribed 5.49 times in the retail category, 87.56 times in the QIB category, and 17.50 times in the NII category. Check Day by Day Subscription Details Reload Subscription
| Category | Subscription (times) |
|---|---|
| QIB | 87.56 |
| NII | 17.50 |
| NII (bids above ₹10L) | 19.01 |
| NII (bids below ₹10L) | 14.47 |
| Retail | 5.49 |
| Total | 32.59 |
Syrma IPO Prospectus
Company Contact Information
Syrma SGS Technology Ltd
Plot B27, Phase II, Zone B,
MEPZ-SEZ, Sanatorium, Tambaram,
Chennai 600 045
Phone: 022 40363000
Email: [email protected]
Website: https://syrmasgs.com/
Syrma IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in
Syrma IPO Lead Manager(s)
- DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
- ICICI Securities Limited
- IIFL Securities Ltd
