The initial public offer (IPO) of Sirma SGS Technology was subscribed 32.61 times on the last day on Thursday. 840 crore-IPO received bids for 93,14,84,536 shares, while 2,85,63,816 shares were offered. Overall there was a fresh issue of equity shares in the IPO 766 crore and offer for sale of 33,69,360 equity shares.
Initial share sale price. was in the range of 209-220 per share. Prior to its public offering, Sirma SGS Technology had raised 252 crore from anchor investors.
Qualified Institutional Buyers (QIBs) were subscribed 87.56 times, non-institutional investors 17.50 times and Retail Individual Investors (RIIs) 5.53 times. DAM Capital Advisors, ICICI Securities and IIFL Securities were the book-running lead managers to the offer.
The finalization of the basis for share allotment of Sirma SGS Technology IPO is expected on August 23, 2022 and if allotment is made, the shares will be credited to the demat account of the bidders on Thursday, August 25. registrar for IPO The link is Intime India Private Limited, so the allotment application can be checked on the website of the Registrar Here or on BSE website Here,
Sirma is heading the premium (GMP) of SGS Tech’s share According to market observers, today 48 in gray market. The company’s shares are expected to be listed on the stock exchanges BSE and NSE this week on Friday, August 26, 2022.
Sirma SGS Technology, incorporated in 2004, is a Chennai-based technology-focused engineering and design company engaged in turnkey Electronics Manufacturing Services (EMS). Its clients include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering & Business Solutions, 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 located in Tamil Nadu, Haryana and Germany.
The company said the net proceeds from the new issue will be used to finance capital expenditure requirements for expansion of manufacturing, R&D facilities, long-term working capital requirements and general corporate objectives.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.