Syrma SGS Technology IPO
Syrma SGS Technology IPO — date, price band, lot size & details 2022
Syrma SGS Technology listed on 26 Aug 2022 at ₹260, 18.2% above the ₹220 issue price.
Syrma SGS Technology is an electronics manufacturing services company that builds PCB assemblies, RFID products and other electronics for OEMs. Its total income was Rs 654.51 crore in FY2022.
Stock price
Syrma SGS Technology is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 12 Aug 2022
- Close 18 Aug 2022
- Allotment 23 Aug 2022
- Refund/credit 24 Aug 2022
- Listing 26 Aug 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 12 to 18 Aug, 2022 |
|---|---|
| Price Band | ₹209 – ₹220 |
| Face Value | ₹10 |
| Lot Size | 68 Shares |
| Issue Size | ₹840.13 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,960 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 68 shares at the ₹220 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 68 | ₹14,960 |
| Retail (max) | 13 | 884 | ₹1,94,480 |
| S-HNI (min) | 14 | 952 | ₹2,09,440 |
| S-HNI (max) | 66 | 4,488 | ₹9,87,360 |
| B-HNI (min) | 67 | 4,556 | ₹10,02,320 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 404.88 crore in FY2020 to Rs 654.51 crore in FY2022, as per the RHP.
- 02Rs 766.00 crore of the Rs 840.13 crore issue was fresh capital for expansion and working capital.
- 03Net worth grew from Rs 101.71 crore on 31 March 2020 to Rs 543.89 crore on 31 March 2022.
- 04It runs eleven plants across 5 states, serving several end industries.
Risks · 5
- 01Profit after tax fell from Rs 43.88 crore in FY2020 to Rs 30.61 crore in FY2022.
- 02The pre-issue P/E was 108.91 at the upper band of Rs 220, based on EPS of Rs 2.02.
- 03Total borrowing rose from Rs 56.12 crore on 31 March 2021 to Rs 132.59 crore on 31 March 2022.
- 04Electronics manufacturing has thin margins, and the source puts the PAT margin at 6.00%.
- 05Promoters and the promoter group held 61.47% before the issue, as per the RHP.
Three years of numbers
All figures in ₹ crore, as reported in the Syrma SGS Technology offer document.
| Metric | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 914.73 | 460.01 | 346.70 |
| Total Income | 654.51 | 444.48 | 404.88 |
| Profit After Tax | 30.61 | 28.62 | 43.88 |
| NET Worth | 543.89 | 238.17 | 101.71 |
| Total Borrowing | 132.59 | 56.12 | 83.80 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Syrma SGS Technology RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Syrma SGS Technology IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.02 | ₹1.62 |
| P/E Ratio (x) | 108.91 | 135.80 |
| Market Cap at Offer Price (₹ Cr) | ₹3,333.76 | ₹4,156.91 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹220 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹506.53 Cr of the issue is earmarked to named objects.
About the company
It works with OEMs from product concept to volume production for industrial appliances, automotive, healthcare, consumer products and IT. Its products include printed circuit board assemblies, RFID products, electromagnetic and electromechanical parts, motherboards and memory products.
It runs eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka. As per F&S, it is one of the fastest growing Indian-headquartered ESDM companies.
The IPO was Rs 840.13 crore, with Rs 766.00 crore of fresh issue and Rs 74.13 crore of offer for sale. Rs 261.55 crore was planned for an R&D facility and manufacturing expansion.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Syrma SGS Technology IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Dam Capital Advisors Ltd
44 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Syrma SGS Technology?
The current Grey Market Premium is ₹50, or 23% over the issue price.
What is the Syrma SGS Technology IPO price band?
₹209 to ₹220, on a face value of ₹10.
When is the allotment?
The basis of allotment is 23 August 2022, with listing on 26 August 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
