The IPO, the first in nearly three months, opened on August 12 for subscription. The portion reserved for high net worth individuals was subscribed 3.58 times while the retail investors’ portion received bids for 2.66 times the shares set aside for them. The qualified institutional buyers’ portion was undersubscribed at 0.71 times.
The IPO comprised a fresh issue of shares aggregating to ₹766 crore and an offer for sale of up to 3.37 million shares.
Syrma SGS Technology raised ₹252 crore from anchor investors last week ahead of its initial share sale.
The net proceeds from the fresh share issue will be utilised for funding capital expenditure requirements to expand manufacturing and R&D facilities and to fund long-term working capital requirements.
DAM Capital Advisors, , and were the book-running lead managers for the issue.
