On August 12, Syrma SGS Technology will announce the size of a new IPO: Rs 766 crore
By August 23, Syrma will have established the foundation for the allocation of shares, and by August 24, it will begin initiating reimbursements for unsuccessful investors. By August 25, qualifying investors' Demat accounts will receive credit for their equity shares.
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On August 12, the engineering and design firm Syrma SGS Technology will begin its first public offering. Since the secondary market has been stable for the past two and a half months, it will be the first IPO in that time. On August 8, the pricing range for the offer will be disclosed.
The initial public offering consists of a new share issuance for Rs 766 crore and a promoter Veena Kumari Tandon offer to sell 33.69 lakh equity shares.
The company had raised Rs 110 crore through its pre-IPO sale of 37.93 lakh equity shares, at a price of Rs 290 per share, before submitting the red herring prospectus.
The deadline for the offer is August 18. On August 11, the anchor book will be accessible for a whole day.
Qualified institutional investors, such as anchor book, will receive 50% of the issue size; 15% will go to non-institutional investors; and the remaining 35% will go to individual investors.
Syrma SGS is an engineering and design firm with a strong technological focus that offers turnkey electronics manufacturing services (EMS) and specialises in precision manufacturing for a variety of end-use markets, such as the industrial appliance, automotive, healthcare, consumer goods, and IT sectors.
Printed circuit board assemblies (PCBA), radio frequency identification (RFID) devices, electromagnetic and electromechanical parts, motherboards, DRAM modules, solid state drives, USB drives, and other memory products are among the range of goods the company offers to many industries.
On the strength of its excellent top line and operating performance, Syrma saw a 16.6% year-over-year increase in proforma profit for the year ended March 2022 at Rs 76.46 crore (which assumes the acquisition of SGS Tekniks and Perfect ID in April 2019). In comparison to the year ending March 2021, pro forma revenue from operations increased by 43% to Rs 1,266.6 crore and pro forma EBITDA increased by 23% to Rs 143.70 crore. Earnings before interest, taxes, depreciation, and amortisation is known as EBITDA.
The business served more than 200 customers during the previous fiscal year, 16 of them have been a part of the business for more than ten years and contributed Rs 262.8 crore in proforma revenue for FY22. A O Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes, CyanConnode, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V. are just a few of its notable clients.
The firm's promoters, Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon, and Tancom Electronics, currently control 57.12 percent of the equity, while South Asia Growth Fund II, Holdings LLC, and Malabar Select Fund, respectively, own 7.53 percent and 1.22 percent of the company.
By August 23, the business will have decided on the basis for the share allocation, and by August 24, it will start initiating reimbursements for unsuccessful investors. By August 25, qualifying investors' Demat accounts will receive credit for their equity shares.
Finally, starting on August 26 the equity shares will be traded on the exchanges.
The book-running lead managers for the offer are IIFL Securities, ICICI Securities, and DAM Capital Advisors.
Aether Industries' IPO in May was the final one to occur this year. In the current calendar year, 16 firms have so far closed their main board public offerings successfully.
