Syrma SGS Technology IPO: Issue subscribed 32.61 instances on remaining day led by QIBs and non institutional traders

IPO, Syrma SGS Technologies IPO: The preliminary public providing (IPO) of digital manufacturing providers firm Syrma SGS Technology was subscribed 32.61 instances on the ultimate day, in accordance with the info obtainable on the BSE.

The Rs 840 crore supply obtained bids for over 93.14 crore (93,14,84,536) shares in opposition to the difficulty measurement of over 2.85 crore (2,85,63,816) shares, the info confirmed.

The shares that are to be allotted for the certified institutional consumers (QIBs) was subscribed 87.56 instances, whereas the portion for non institutional traders was subscribed 17.50 instances and that of retail particular person traders (RIIs) was subscribed 5.53 instances, the info confirmed.

The Syrma SGS IPO includes a recent situation of shares price Rs 766 crore and a proposal on the market (OFS) of as much as 33.69 lakh fairness shares by promoter Veena Kumari Tandon.

The 4-day IPO opened for subscription on Friday, August 12, 2022, and concluded at 5 pm in the present day. It has a value band of Rs 209-220 per share.

Before heading into the IPO, the corporate had raised over Rs 252.03 crore (Rs 2,52,03,77,420) from 18 anchor traders.

Syrma SGS Technology is a technology-focused engineering and design agency that’s engaged in turnkey electronics manufacturing providers (EMS) that specialises in precision manufacturing. Some of its high prospects embrace TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Hindustan Unilever, the corporate knowledgeable in its purple herring prospectus.

Going forward, traders will now look ahead to the share allotment date of the difficulty. The finalisation of the idea of allotment for Syrma SGS Technology is anticipated to happen on Tuesday, August 23, 2022, as per the data offered within the RHP.