The allotment for the ₹840-crore initial public offering (IPO) of Syrma SGS Technology is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as BSE.
The IPO, which was subscribed 33.6 times, was open from August 12-18 and the price band for the issue was set at ₹209-220 per share. Syrma SGS shares are likely to list on bourses on August 26, 2022.
The public issue received a strong response from investors across all categories with Qualified Institutional Buyers (QIBs) subscribing the most. The QIB portion was bid 87.56 times their allotted quota. Meanwhile, the quota set aside for non-institutional investors was subscribed 17.5 times and that of retail investors 5.5 times.
The IPO received bids for 93.14 crore shares against 2.85 crore shares on offer.
It is the first to hit the Street since June— was a combination of fresh issuance of shares and an offer for sale by existing shareholders. It had a fresh issue of equity shares aggregating to ₹766 crore and an offer for sale of up to 33,69,360 equity shares. Ahead of the issue, the firm had raised ₹252 crore from anchor investors.
Here's how you can check the allotment status:
On BSE:
1) Go to the website: https://www.bseindia.com/investors/appli_check.aspx.
2) Select ‘Equity’ and then from the dropdown, select issue name - "Easy Syrma SGS Technology"
3) Enter your application number and PAN card number
4) Click on the "Search" button
Through the website of the Registrar.
1) Go to the website: https://linkintime.co.in/MIPO/Ipoallotment.html
2) Select the IPO name from the dropdown
3) Enter Application Number or DP ID/Client ID or PAN
4) In the case of application number, select application type (ASBA or NON-ASBA) and 'Enter Application Number'. In the case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".
5) Enter 'Captcha' and submit
The status will only appear after allotment if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.
Syrma SGS Technology, incorporated in 2004, is a Chennai-based technology-focused engineering and design company engaged in turnkey Electronics Manufacturing Services (EMS). It provides solutions to original equipment manufacturers. Its clients include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Total Power Europe BV.
Syrma SGS Technology aims to use the proceeds from the IPO to fund its capex and working capital requirements, and for general corporate purposes.
