Shares in electronic manufacturing services companies Silma SGS Technology It debuted with strong publicity and was listed at a premium of over 19% from its issue price on today’s stock exchange.
Scrip was listed on the BSE at Rs 262.00 each and registered a profit of 19.09% from its offering price of Rs 220.00 while on the National Stock Exchange (NSE) it rose 18.18% after opening at Rs 260.00 . issue price.
The stock price rose further from the opening, reaching highs of Rs 293.00 for BSE and Rs 293.30 for NSE in the first 10 minutes of trading.
At 10:10 am, Scrip was trading 31.07% higher than its issue price at INR 288.35 on the BSE while it was trading 31.32% higher at INR 288.90 on the NSE. According to BSE data, the market capitalization is Rs 5075.4 crore.
More than 2.3 billion shares of Syrma SGS Technology have so far traded on the NSE and approximately 17.99 million shares on the BSE, data from the respective stock exchanges showed.
Silma SGS Technology is a technology-focused engineering and design firm engaged in Turnkey Electronics Manufacturing Services (EMS) specializing in precision manufacturing. Key customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Hindustan Unilever.
The IPO will be open to the public from 12th to 18th August 2022, Subscribed 32.61 times by the last day.
Swastika Investmart Head of Research Santosh Meena commented on the strong listing. With a focus on R&D-based innovation and an experienced management team, the company has expanded into various growth areas, such as his PCBA, Radio Frequency Identification (RFID), electromagnetic and electromechanical components, and other information technology related products. I was able to enter. The company’s geographically diverse manufacturing base and business model that focuses on every segment of the industry-wide value chain, starting with product concept design, gives it a competitive advantage over other players. ”
He added: However, with its tremendous growth prospects, the company believes it deserves this premium multiple. Those who apply for listed profit can keep the stop loss at Rs 225. New investors can buy for the long term and existing investors are encouraged to continue investing in the company. ”