NSE SME Sathlokhar Synergys E&C Global's IPO ends with subscription of 135 times

The offer received bids for 89.32 crore shares as against 66.38 lakh shares on offer.

The initial public offer (IPO) of Sathlokhar Synergys E&C Global received bids for 89,32,55,000 shares as against 66,38,000 shares on offer. The issue was subscribed 134.56 times.

Retail investors bid for 33,92,28,000 shares, non-institutional investors bid for 34,67,89,000 shares and qualified institutional investors bid for 20,72,38,000 shares.

The issue opened for bidding on 30 July 2024 and it closed on 1 August 2024. The price band of the IPO was set at Rs 133 to Rs 140 per share. The equity shares will list on NSEs SME platform.

 

The IPO comprises fresh issue of 66,38,000 shares. The company intends to utilize the net proceeds for working capital and general corporate purposes.

Ahead of the IPO, Sathlokhar Synergys E&C Global on 29 July 2024, raised Rs 25.30 crore from anchor investors. The board allotted 18.10 lakh shares at Rs 140 per share to 7 anchor investor.

Sathlokhar Synergys E&C Global is an integrated engineering, procurement and construction (EPC) (design and build) & infra turnkey contracting company providing specialized services for construction of buildings and infrastructure facilities for industrial, warehousing, commercial, institutional, pharmaceutical projects, solar projects, hospitals, hotels, resorts & villas etc. The company has total 118 employees.

The company recorded revenue from operations of Rs 246.97 crore and net profit of Rs 26.21 crore for the period as on 31 March 2024.

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