Syrma SGS Technologies IPO: What GMP signals as bidding ended today
- Syrma SGS Technologies IPO GMP today is ₹36, say market observers
Syrma SGS Technologies IPO: Four days subscription for the public issue ended today. As per Syrma SGS Technologies IPO subscription status, the public offer was subscribed over 32 times. The offer received bids of 93,14,84,536 equity shares against the offered 2,85,63,816 equity shares, at a price band of ₹209-220, according to the data available on the stock exchanges. The portion reserved for Qualified Institutional Buyers led from the front and was subscribed 87.56 times. The reserved portion of non-institutional investors witnessed a subscription of 17.50 times. The Retail Investors portion was subscribed 5.53 times.
Meanwhile, Syrma SGS Technologies share price has remained almost steady in the grey market in last 24 hours. According to market observers, shares of Syrma SGS Technologies are available in the grey market at a premium of ₹36.
Syrma SGS Technologies IPO GMP
As per the market observers, Syrma SGS Technologies IPO grey market premium (GMP) today is ₹36, which is ₹4 lower from its Wednesday's grey market premium of ₹40 per equity share. They said that Syrma SGS Technologies IPO GMP got more than doubled from Monday to Friday as it shot up from ₹15 to ₹40. So, such a dip in Syrma SGS Technologies IPO GMP today is negligible and it may recover on Thursday as it would be the last day available for bidder to apply for the IPO. They expected sharp upside in Syrma SGS Technologies IPO subscription status on the last date of bidding as market trend is still positive and it is mere 4 per cent away from its life-time high.
What this GMP means?
As Syrma SGS Technologies IPO GMP today is ₹36, it means that grey market is expecting Syrma SGS Technologies IPO listing around ₹256 ( ₹220 + ₹36), which is around 16 per cent higher from its price band of ₹209 to ₹220 per equity share.
However, market experts maintained that grey market premium is not an ideal indicator for assessing the listing gains from an IPO. They said that it keeps on changing and it has nothing to do with the financials of the company. They advised investors to look at the balance sheet of the company as it would give ideal fundamental picture of the company.
Syrma SGS Technology IPO financials
During FY20, FY21, and FY22, the company reported its revenues at ₹2,804.3 Mn, ₹1,931.3 Mn and ₹2,521.2 Mn, out of which 70.0 per cent, 43.9 per cent and 39.0 per cent, respectively were attributable to its original design manufacturing services. The company has a comprehensive product portfolio with applications across diverse end-use industries. Its products primarily focus on ODMs and OEMs serving enduse industries, including the automotive, healthcare, IT, industrial appliances, energy management, water purification, power supply and consumer products industries.
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