Syrma SGS Technology IPO share listing on Friday: Check GMP, share price to expect & more

The shares of Syrma SGS Technology will debut on the bourses - National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Friday, August 26. The technology-focused engineering and design company, which had fixed a price band of Rs 209-220 per equity share, was available for subscription from August 12 to August 18. The allotment of shares took place on Wednesday.

While the offering was limited to 2,85,63,816 equity shares, the Syrma SGS Technology IPO witnessed bids for 3,14,84,536 shares. It was oversubscribed 32.61 times. The QIBs (Qualified Institutional Buyers) bid for more than 87 times their allotted portions, while NIIs (Non-Institutional Investors) and retail investors subscribed 17.50 times and 5.53 times respectively. 

The Rs 840 crore IPO comprises of fresh issue of shares worth Rs 766 crore and an Offer for Sale (OFS) by existing shareholders of up to 33,69,360 shares. Syrma SGS also raised Rs 252 crore from anchor investors.

Syrma SGS Technology IPO Share Price & other details

• Syrma SGS Technology share price: Price band Rs 209-220 per equity share.
• Syrma SGS Tech Listing: August 26 (Friday)
• IPO size: The IPO consists of Rs 766 crore worth of fresh equity shares and an OFS of 33.69 lakh shares

Syrma SGS Technology GMP: What to expect?

The shares of Syrma SGS Technology in the unofficial grey market are trading at a premium. The GMP (Grey Market premium) on Thursday was around Rs 55 which suggests around a 20-25% gain on listing on NSE and BSE. 

About Syrma SGS

Syrma SGS, being a technology-focused engineering and design company, focuses on turnkey Electronics Manufacturing Services. Its customers include Eureka Forbes, TVS Motors, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, and Total Power Europe BV.