Syrma SGS Technology lists at 19% premium over issue price
A day before listing, shares of Syrma SGS Technology were exchanging hands at a premium of Rs 55-60 in the grey market, signalling a strong listing for the company.
By ETMarkets.com | Updated:
iStock
New Delhi: Syrma SGS Technology made a strong debut on Dalal Street as the engineering and design company got listed at Rs 262, a premium of 19 per cent over its issue price of Rs 220 on BSE.
The company debuted at a premium of 18 per cent at Rs 260 on the National Stock Exchange (NSE).
Post listing, the counter rose 12 per cent to hit an intra-day high of Rs 293, taking the total gains to more than 33 per cent over the issue price.
A day before listing, shares of Syrma SGS Technology were exchanging hands at a premium of Rs 55-60 in the grey market, signalling a strong listing for the company.
The Rs 840-crore IPO of Syrma SGS Technology was sold in the range of Rs 209-220 per share apiece and received a strong investor response during the bidding process between August 12-18 as it was subscribed 32.61 times.
The quota reserved for qualified institutional buyers (QIBs) was subscribed 87.56 times while the portions reserved for non-institutional investors (NIIs) and retailers were subscribed 17.5 times and 5.53 times, respectively.
Chennai-based Syrma SGS Technology is among India's leading and fastest-growing electronics system design and manufacturing companies. It has three dedicated R&D facilities located in Chennai, Gurgaon and Stuttgart, Germany.
The company operates through eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka.
The company debuted at a premium of 18 per cent at Rs 260 on the National Stock Exchange (NSE).
Post listing, the counter rose 12 per cent to hit an intra-day high of Rs 293, taking the total gains to more than 33 per cent over the issue price.
A day before listing, shares of Syrma SGS Technology were exchanging hands at a premium of Rs 55-60 in the grey market, signalling a strong listing for the company.
The Rs 840-crore IPO of Syrma SGS Technology was sold in the range of Rs 209-220 per share apiece and received a strong investor response during the bidding process between August 12-18 as it was subscribed 32.61 times.
The quota reserved for qualified institutional buyers (QIBs) was subscribed 87.56 times while the portions reserved for non-institutional investors (NIIs) and retailers were subscribed 17.5 times and 5.53 times, respectively.
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Chennai-based Syrma SGS Technology is among India's leading and fastest-growing electronics system design and manufacturing companies. It has three dedicated R&D facilities located in Chennai, Gurgaon and Stuttgart, Germany.
The company operates through eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka.
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