Syrma SGS Technologies IPO Share Allotment: Syrma SGS Technology IPO (Initial Public Offer) witnessed huge interest from all categories of investors. So, after the closure of the subscription, all eyes are now set on Syrma SGS Technologies IPO allotment date. The IPO investors can check the IPO allotment status via BSE and the registrar’s websites. The registrar of the issue is Link Intime India Private Ltd, a SEBI-registered entity, responsible for the IPO allotment and refund processing.
Syrma SGS Technologies IPO: Subscription Status
Syrma SGS Technology’s Rs 840-crore IPO, which got subscribed 32.61 times on the final day of bidding. as per the NSE. Syrma SGS Technology IPO received bids for 93,14,84,536 shares against 2,85,63,816 shares on offer. According to NSE data, the Qualified Institutional Buyers (QIBs) led the subscription as they bid for 87.56 times on the last day, while the portion reserved for non-institutional investors was 17.50 times subscribed and Retail Individual Investors (RIIs) 5.53 times.
How to check Syrma SGS Technology IPO Share Allotment Status
Step 1: Go to https://www.bseindia.com/investors/appli_check.aspx.
Step 2: Select ‘equity’ option and then issue name – ‘Syrma SGS Technology IPO’ from the dropdown
Step 3: Enter your application number and PAN card number.
Step 4: Check ‘I am not a robot’ and hit submit to know the status.
Syrma SGS Technology IPO Allotment Status Check on Link Intime India Private Limited
Step 1: Go to https://www.linkintime.co.in/MIPO/Ipoallotment.html
Step 2: On this page enter the issue name, which is Syrma SGS Technology IPO, once activated
Step 3: Enter Pan Card details
Step 4: Proceed to the next step and enter the application number and finally client ID
Step 5: After filling all the boxes with the right details, hit submit to know the allotments status.
Syrma SGS Technologies IPO: GMP Today
According to market observers, shares of Syrma SGS Technologies is currently available at a premium of Rs 58 in the grey market. Market observers said that Syrma SGS Technologies IPO GMP today is Rs 58, which means grey market is expecting that Syrma SGS Technologies IPO listing would be around Rs 278 ( Rs 220 + Rs 58), which is around 22 per cent higher from its price band of Rs 209 to Rs 220 per equity share.
However, stock market analysts warned IPO investors to make an investment decision only on the basis of GMP. They said that GMP is unofficial and non-regulated data. It has nothing to do with the company’s financials. They advised investors to look at the concrete fundamentals available on the balance sheet of the company.
Syrma SGS Technology will finalise the basis of the allotment of shares by August 23 and will initiate refunds to unsuccessful investors by August 24. Equity shares will get credited to the Demat accounts of eligible investors by August 25. The shares will start trading on the BSE and NSE will start with effect from August 26.
Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS) that specialises in precision manufacturing. Its customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering, and Business Solution, Eureka Forbes, and Total Power Europe BV. It operates through eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu, and Karnataka and has three R&D facilities which are located in Tamil Nadu, Haryana, and Germany.
As per the company, the net proceeds from the fresh issue will be used for funding capital expenditure requirements to expand manufacturing, R&D facilities, long-term working capital requirements, and general corporate purposes.
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