The company debuted at an 18% premium of Rs 260 on the National Stock Exchange (NSE).
After listing, the counter rose 12% to reach an intraday high of Rs 293, with gross profit exceeding the issue price by more than 33%.
A day before the listing, shares of Syrma SGS Technology were trading at a premium of Rs 55-60 on the gray market, signaling a strong listing for the company.
Syrma SGS Technology’s Rs 840 Million IPO Offered in the Range of Rs 209-220 per Share, Strong Investor Response as 32.61 Offers During the Bidding Process from 12-18 August had.
The quota reserved for Qualified Institutional Investors (QIB) was 87.56x and the portion reserved for Non-Institutional Investors (NII) and Retailers was 17.5x and 5.53x respectively.
Based in Chennai, Syrma SGS Technology is one of the fastest growing electronic systems design and manufacturing companies in India. He has three dedicated R&D facilities in Chennai, Gurgaon and Stuttgart, Germany.
The company operates out of 11 manufacturing facilities located in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka.