Syrma Technology

Shares of Syrma SGS Technology locked in upper circuit of 20% at Rs 504.35 after it reported 161% YoY jump in consolidated profit after tax at Rs 53.0 crore in the December 2024 quarter

Union Minister Ashwini Vaishnaw, on Friday, laid the foundation stone for a new assembly line to produce laptops at the Tamil Nadu facility of electronic systems design and manufacturing company Syrma SGS Technology Ltd. To assemble laptops at its state-of-the-art Chennai facility, Syrma SGS Technology Ltd has partnered with MSI, a global leader in AI-powered personal computers. The Union Minister of Electronics and Information Technology laid the foundation stone for establishing a new assembly line to produce laptops, marking a significant milestone in the 'Make in India' initiative. Syrma SGS is collaborating with MSI to produce laptops for the Indian market, according to a press release. During his brief interaction with company officials, Vaishnaw applauded Syrma SGS's efforts in driving the electronics manufacturing ecosystem forward and highlighted the pivotal role of such initiatives in building a self-reliant India. Syrma SGS Technology Ltd will leverage its high-quality,

India Ratings and Research rated Syrma SGS Technology's Rs 110 crore Commercial Paper Program as "IND A1+"

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Syrma SGS Technology share price: Syrma SGS' adjusted net profit declined 17.5 per cent Y-o-Y to Rs 452.14 crore

The stock, which listed a year ago on August 26, 2022, has surged nearly 2.5 times (143 per cent) from its issue price of Rs 220. On its debut day, the stock had closed with a 41 per cent gain

In the June quarter, electronics became India's fourth-largest exported item overtaking chemicals, drugs and pharmaceuticals. This surge was led by mobile phones aided by 2020 PLI scheme

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Analyst at Swastika Investmart attributed the good listing to positive market sentiment, outstanding prospects, and a good response from the investors.

The qualified institutional buyers (QIBs) was subscribed 87.5 times, high networth individual (HNI) portion 17.5 times and retail portion 5.5 times

The Initial Public Offer (IPO) of Syrma SGS Technology was subscribed 32.61 times on the final day on Thursday. The Rs 840 crore-IPO received bids for 93,14,84,536 shares against 2,85,63,816 shares on offer, according to NSE data. The category for Qualified Institutional Buyers (QIBs) received 87.56 times subscription, non institutional investors was subscribed 17.50 times and Retail Individual Investors (RIIs) 5.53 times. The IPO had a fresh issue of equity shares aggregating to Rs 766 crore and an offer for sale of up to 33,69,360 equity shares. The offer was priced in the range of Rs 209-220 per share. On Thursday, Syrma SGS Technology raised Rs 252 crore from anchor investors. It was the first company to tap the primary market in two-and-a-half months. Prior to this, the IPO of Aether Industries was open for public subscription during May 24-26. The net proceeds from the fresh issue will be utilised for funding capital expenditure requirements to expand manufacturing, R&D ..

The qualified institutional buyer portion was subscribed 71 per cent. Retail and the two categories meant for high networth individuals garnered over three times subscription

Retail investor portion of the issue was subscribed 1.5 times, while high net-worth individual portion was subscribed 63 per cent

The offer got bids for 2,62,69,148 shares against 2,85,63,816 shares on offer, according to the NSE data.

Through the IPO, the company is planning to raise Rs 766 crore by issuing fresh shares

New entity will be created, with a combined turnover of over Rs 1,000 crore, and 55% revenues coming from exports primarily to the US and Europe