The engineering and design company has fixed the price band at Rs 209-220 a piece for the issue. The issue will run until August 18 (Thursday).
The company is aiming to raise Rs 840 crore via its primary offering, which includes a fresh issue of Rs 766 crore, whereas existing shareholders and promoters will offload 33,69,360 equity shares from their holding.
The company, in consultation with its book-running lead managers (BRLMs), raised Rs 110 crore via pre-IPO placement by allotting 37,93,103 equity shares for Rs 290 apiece.
Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS), specializing in precision manufacturing for diverse end-use industries.
The Chennai-based company, which was incorporated in 2004, serves various industries including industrial appliances, automotive, healthcare, consumer products, and IT industries.
The net proceeds from the fresh share issue will be used for funding capital expenditure requirements to expand manufacturing and R&D facilities and to fund long-term working capital requirements, the company said in its DRHP.
Investors can make a bid on a minimum of 68 equity shares and in multiples of 68 equity shares thereafter. The anchor book will open on Thursday, August 11.
The company operates through eleven manufacturing facilities located in the northern states of Himachal Pradesh, Haryana, and Uttar Pradesh; and southern states of Tamil Nadu and Karnataka.
The company has three dedicated research and development (R&D) facilities, two of which are located in Chennai, Gurgaon and Stuttgart, Germany.
The company posted a 43 per cent revenue growth at Rs 1,267 crore in FY22 compared to the year ending March 2021. The company’s net profit grew 17 per cent to Rs 76.46 crore for March 2022.
Up to 50 percent of the total offer is reserved for qualified institutional buyers, and 15 percent for non-institutional investors. The remaining 35 percent stake is allocated to the retail investors.
DAM Capital Advisors,
and are the book-running lead managers for the offer, whereas Link Intime India is the registrar to the issue.
.