Syrma SGS Technology was incorporated on August 23, 2004. It is a technology-focussed engineering and design company engaged in turnkey electronic manufacturing services, specializing in precision manufacturing for diverse end-use industries, including industrial appliances, automotive, healthcare, consumer products, and IT industries.
| Bidding Dates |
|---|
| 12 Aug 2022 - 18 Aug 2022 |
| Subscription |
|---|
| 32.61x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,960 | 1 | 13 | 68 | 38.2 M | ₹209 - ₹220 | 78.33 % | ₹7981.2 M - ₹8401.3 M | RHP DOC |
Syrma SGS Technology IPO SUBSCRIPTION STATUS
18 Aug '22Syrma SGS Technology IPO overall subscription rate was 32.61 times the total available shares
Syrma SGS Technology IPO retail subscription rate was 5.53 times in the retail segment
Syrma SGS Technology IPO non-institutional investor subscription rate was 17.5 times in the non-institutional investor category
Syrma SGS Technology IPO Qualified Institutional Bidder subscription rate was 87.56 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
18 Aug 2022 (Day 4) | 5.53x | 17.5x | 87.56x |
17 Aug 2022 (Day 3) | 2.66x | 3.58x | 0.71x |
16 Aug 2022 (Day 2) | 1.56x | 0.74x | 0x |
12 Aug 2022 (Day 1) | 0.68x | 0.12x | 0x |
Syrma SGS Technology FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| FY22 | 306.1 | 6,462.6 | 137.3 | -583.1 | 10.0% |
| FY21 | 286.2 | 4,383.0 | 238.5 | 181.8 | 12.1% |
| FY20 | 438.8 | 3,970.8 | 708.3 | 417.8 | 17.6% |
Syrma SGS Technology IPO SUBSCRIPTION STATUS DETAILS
Syrma SGS Technology had 38.2 M shares on offer
Syrma SGS Technology IPO offer price was in the range ₹209 - ₹220
Syrma SGS Technology IPO minimum Investment was ₹14960
Syrma SGS Technology IPO issue size was ₹ 7981.2 M - ₹ 8401.3 M
Syrma SGS Technology had a minimum lot size of 68 Shares per application
Syrma SGS Technology NUMBER OF SHARES ON OFFER
Syrma SGS Technology IPO IMPORTANT DATES
| Issue Open Date | 12 Aug 2022 |
| Issue close Date | 18 Aug 2022 |
| Allotment Date | 23 Aug 2022 |
| Refund Date | 24 Aug 2022 |
| Demat Account Credit Date | 25 Aug 2022 |
| Listing Date | 26 Aug 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Syrma SGS Technology Allotment Status | Exchange |
Syrma SGS Technology IPO subscription opened on 12 Aug 2022, and closed on 18 Aug 2022
IPO allotment for Syrma SGS Technology was finalized on Tuesday, 23 Aug 2022
IPO listing for Syrma SGS Technology was on NSE and BSE on Friday, 26 Aug 2022
Syrma SGS Technology IPO LISTING GAINS
| Issue Price (adjusted) | 220.0 |
| Listing Open Price | 260.0 |
| Listing Close Price | 310.5 |
| Listing Gain% | 18.2% |
| Current Gain% | 547.6% |
Syrma SGS Technology Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Syrma SGS Technology Ltd. | 1424.7 | 25107.4 | 74.5 | 0.9 | 5 | 11.1 | 5.5 | 4856.9 | 26.6 | 317.8 | 87.1 | 19.1 | 83.9 |
| Havells India Ltd. | 1288 | 80750.1 | 49.4 | 3.2 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2717 | 78154.9 | 20.5 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16631 | 66829.5 | 56.6 | 1.7 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1047.2 | 47537.8 | 28.6 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 37900 | 33509.3 | 60.8 | 7.9 | 7.1 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
Syrma SGS Technology INFORMATION ON IPO ISSUE
About Syrma SGS Technology
Syrma SGS Technology was incorporated on August 23, 2004. It is a technology-focussed engineering and design company engaged in turnkey electronic manufacturing services, specializing in precision manufacturing for diverse end-use industries, including industrial appliances, automotive, healthcare, consumer products, and IT industries.
Object of the Issue
- Funding capital expenditure requirements for the development of a research and development facility and expansion / setting up of manufacturing facilities
- Funding long-term working capital requirements
- General corporate purposes
Syrma SGS Technology - PROMOTERS
| Name |
|---|
| Sandeep Tandon |
| Jasbir Singh Gujral |
| Veena Kumari Tandon |
| Tancom Electronics Private Limited |
Syrma SGS Technology Book Running Lead Manager
DAM Capital Advisors Limited
syrma.ipo@damcapital.in
ICICI Securities Limited
syrma.ipo@icicisecurities.com
IIFL Securities Limited
syrmasgs.ipo@iiflcap.com
Syrma SGS Technology Registrar to the Offer
Link Intime India Private Limited
syrma.ipo@linkintime.co.in
Syrma SGS Technology Strengths
Leading manufacturer
One of the leading design and electronic manufacturing services companies in terms of revenue in FY21, driven by a focus on quality and customer relationship
Financial performance
The company has a consistent track record of financial performance, and has demonstrated consistent growth in terms of revenue and profitability
Product portfolio
The company is diversified and is continuously evolving and expanding its product portfolio and service offerings to cater to customers across various industries. It is backed by strong research and development capabilities.
Established relationships globally
Established relationships with marquee customers across various countries
Syrma SGS Technology Risks
No long-term commitments
Customers do not make long-term commitments to the company and may cancel or change their production requirements
Prone to cyber risk
Disruptions or failures in the operating systems that support the businesses, or cyber-attacks or security breaches of networks or systems in the future, could result in the loss of customers and business opportunities, legal liability, regulatory fines, penalties, etc
Subject to intellectual property infringement
The company cannot determine with certainty whether it is infringing upon any existing third-party intellectual property rights which may force it to alter the technologies, obtain licenses or significantly cease some portions of operations
Heavily dependent on customer relationships
The loss of any key customer, may significantly affect revenues, and the company may have difficulty securing comparable levels of business from other customers to offset any loss of revenue from the loss of any such key customers, including its largest customers.
Loan guarantee given by promoters
The promoters have given guarantees in relation to certain borrowings availed by the company. In the event of default on such borrowings, these guarantees may be invoked by the lenders thereby adversely affecting promoters’ ability to manage the affairs of the company. This, in turn, could adversely affect business, prospects, financial condition and results of operations.
Stringent Quality requirements
Customers have high and exacting standards for product quality as well as delivery schedules. Adherence to quality standards is a critical factor in the manufacturing process as any defects in the products manufactured by the company or failure to comply with the technical specifications of customers may lead to cancellation of the orders placed by customers.
Dependency on third-party for raw materials
The company is dependent on third-party suppliers for raw materials. The raw materials used include electronic components, wound components, wiring harness, plastic parts, sheet metal parts and process consumables. Discontinuation of production by suppliers or a failure of these suppliers to adhere to the delivery schedule or the required quality could hamper the manufacturing schedule and therefore affect business and results of operations.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 74.0 crore, of 3,369,360 shares. It also consists of a fresh issue of Rs 766.0 crore.
The promoters of the company are Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon and Tancom Electronics Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 209.0 - 220.0.
The IPO application opens on Aug 12, 2022 and closes on Aug 18, 2022.
The minimum lot size for the IPO is 68. The maximum lot size for the IPO is 884.
For all category investors, the minimum application amount for this IPO is Rs. 14,960.0, the maximum value for this IPO is Rs 194,480.0.
This IPO will be allotted on Aug 23, 2022.
The refund will be credited to your account on Aug 24, 2022.
The allotted shares will be credited to your demat on Aug 25, 2022.
Syrma SGS Technology Ltd.’s shares listed on the stock exchanges on Aug 26, 2022.