Syrma SGS Technology IPO subscribed 32.6x on final day of bidding

Syrma SGS Technology IPO was subscribed nearly 33 times on its concluding day, generating bids worth nearly Rs 20,000 crore. The qualified institutional buyers (QIBs) was subscribed 87.5 times, high networth individual (HNI) portion 17.5 times and retail portion 5.5 times. 

Syrma SGS, an electronic systems design and manufacturing firm, had set the price band for its IPO at Rs 209-220 per share. At the top-end, the company will be valued at Rs 3,877 crore. Syrma SGS’ IPO was the first issue to hit the market in nearly three months. Following its successful IPO, Dreamfolks Services, an airport service aggregator platform, is expected to launch its IPO next week.