Syrma SGS Technology Limited’s Rs 840 crore Initial Public
Offering to open onAugust 12, 2022, sets price band at ₹209to ₹220per Equity
Share
Mumbai, August 08, 2022:Leading EMS Company Syrma SGS
Technology Limited (“The Company”) has fixed the price band at ₹209to ₹220per
Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the
Company will open on Friday August 12, 2022, for subscription and close on Thursday,
August 18, 2022. Investors can bid for a minimum of 68Equity Shares and
in multiples of 68 Equity Shares thereafter.
The IPO consists of a fresh issue of equity shares aggregating to ₹766 crore and an offer for sale (OFS) of up to 3,369,360equity
shares.
The Offer is being made through the Book Building Process, wherein not
more than 50% of the Offer shall
be available for allocation to Qualified Institutional Buyers, not less than 15%
of the Offer shall be available
for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for
allocation to Retail Individual Bidders.
Promoted and led by
Sandeep Tandon and Jasbir Singh Gujral, Syrma SGS, is a technology-focused
engineering and design company engaged in turnkey electronics manufacturing
services (“EMS”)specializes in precision manufacturing.
From Manufacturing High Precision
Coils for Hard Disk Drives and USB drives for the IT Industry; Set Top Box
requirements for the Home Entertainment Industry; 4G and now 5G Modules for the
Telecom Industry; Hall Sensor PCBAs, Vehicle Tracking Systems, Toll Management
Systems, Beacons, 4W Lighting System Boards, EV Battery Management Systems for
the Automotive End Use Industry; Automatic Dimmers, Induction Cooktop
Components, Boiler Management PCBA units, Energy Efficient Electronic
Inverters, Home Appliance Control PCBAs for the Consumer Products Industry;
Direct Digital Dental X-ray FGPA Controllers, PCBAs for X-Ray Machines, Smart
Canes for Visually Challenged People, Augmented Reality Equipment for
Ophthalmological Applications addressing
the requirements of the Healthcare Industry, the company caters to diverse
industries and has come a long way since its incorporation in 2004. It stands to be one of the leading Printed Circuit Board
Assembly manufactures in India and top global manufacturers of custom RFID
tags.
Its
marquee customers include TVS Motor CompanyLimited, A. O. Smith India Water
Products Pvt. Ltd., Robert Bosch Engineering and Business Solution Pvt
Ltd,Eureka Forbes Ltd Limited, CyanConnode Limited, Atomberg Technologies
Private Limited, and Total PowerEurope B.V. The companies aggregated wallet
share from its top 10 and top 20 customers increased by CAGR of 26.20% and 25.79%
respectively from FY20 to FY22.
It currently operates through eleven strategically located
manufacturing facilities in north India (i.e. Himachal Pradesh, Haryana and
Uttar Pradesh) and south India (i.e. Tamil Nadu and Karnataka) and three
dedicated R&D facilities, two of which are located in India at Chennai,
Tamil Nadu and Gurgaon, Haryana respectively, and one is located in Stuttgart,
Germany.
Syrma’s Proforma EBIDTA, considering
SGS Tekniks and Perfect ID revenues from operations attributable to industrial appliances
industry, consumer products industry, automotive industry, IT industry and
other industries grew at a CAGR of 15.83%, 15.11%, 37.40, 821.03% and 426.59%,
respectively from Fiscal 2020 to Fiscal 2022.
Dam Capital Advisors Limited, ICICI Securities Limited, and IIFL
Securities Limited are the book running lead manager to the issue and
Link Intime India Private Limited is the
registrar to the offer.The
equity shares are proposed to be listed on BSE and NSE.