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Syrma SGS Technology IPO Subscribed 32.61 Times On Day 4

Follow the latest subscription updates from day 4 of Syrma SGS Technology IPO.

<div class="paragraphs"><p>Electronics manufacturing services by Syrma SGS Technology Ltd. (Source: Company website)</p></div>
Electronics manufacturing services by Syrma SGS Technology Ltd. (Source: Company website)

Investor interest for Syrma SGS Technology Ltd.’s initial public offering picked up on final day of its subscription.

The Rs 840-crore IPO was fully subscribed on the third day. It was subscribed 92% on its second day and 37% on the first day.

The demand for the IPO was spearheaded by retail investors in the first two days of offering, while that from non-institutional investors picked up on the third day.

Demand from qualified institutional buyers took the lead on the final day of subscription followed by non-institutional and retail investors.

The initial share sale consists of a fresh issue worth Rs 766 crore and an offer for sale of up to 33.69 lakh equity shares by Veena Kumari Tandon, one of the promoters of the company, per the red herring prospectus. The price band is fixed at Rs 209-220 per share.

The Chennai-based electronics manufacturer plans to invest the net proceeds from the fresh issue towards ramping up its manufacturing and R&D facilities, it said. Syrma SGS will also use the funds for its working capital needs and general corporate purposes.

The IPO of Syrma SGS hits the primary market two-and-a-half months after the last IPO of Aether Industries Ltd.

The engineering and design services provider offers electronics manufacturing services such as product design, quick prototyping, printed circuit board assembly, box build, repair and rework, and automatic tester development services. It also offers OEM solutions for RFID tags and inlays and high-frequency magnetic components.

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Syrma SGS Technologies IPO: All You Need To Know

Subscription Status: Day 4

The IPO was subscribed 32.61 times as of 5:00 p.m. on Aug. 18.

  • Institutional investors: 87.56 times.

  • Non-institutional investors: 17.50 times.

  • Retail investors: 5.53 times.

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