Syrma SGS Technology stock closes 42% higher on listing day, market cap above Rs 5,500 cr

Shares of Syrma SGS Technology shares ended with over 42 per cent premium in the debut trade on Friday against the issue price of Rs 220. Syrma SGS Technology stock ended 42.30 per cent higher at Rs 313.05 against the issue price of Rs 220 on BSE. The shares closed 19.48 percent higher to the  opening price of Rs 262 on BSE today.

Earlier, the stock made its debut at Rs 262, a rise of 19.09 per cent from the issue price. During the day, it zoomed 42.90 per cent to Rs 314.40.

At the NSE, the stock opened at Rs 260, a premium of 18.18 per cent. The stock ended at Rs 312, up by 41.81 per cent over the issue price. In traded volume terms, 54.77 lakh shares of the company changed hands at the BSE and over 5.99 crore shares at the NSE during the day.

The company's market cap at closing stood at Rs 5,516.85 crore on the BSE.

Also read: Syrma SGS Technology shares make stellar debut, list at 19% premium to issue price

The initial public offering (IPO) of Syrma SGS Technology was open for subscription from August 12 to August 18. The initial public offer (IPO) of Syrma SGS Technology was subscribed 32.61 times on the fourth and final day of the offer.

The public offer received bids for 93,14,84,536 shares against 2,85,63,816 shares offered by the company. The quota reserved for retail and non-institutional investors got subscribed 5.53 times and 17.50 times of the portion allocated for them.

Qualified institutional buyers (QIBs) subscribed to 87.56 times of the allocated portion. Half of the issue size was reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors.

Syrma SGS Technology IPO: GMP jumps 28% in a day ahead of listing next week

Syrma SGS Technology IPO consisted of 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 net proceeds from the IPO will be utilised for funding capital expenditure requirements to expand manufacturing, R&D facilities, long-term working capital requirements and general corporate purposes.

Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS). Its customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Total Power Europe BV.