Sirma SGS Technologies IPO Share Allocation: Sirma SGS Technologies IPO (Initial Public Offering) witnessed huge interest from all categories of investors. Hence, after the closure of the subscription, all eyes are now on the date of IPO allotment of Sirma SGS Technologies. IPO investors can check IPO allotment status through the websites of BSE and Registrar. The registrar of the issue is Link Intime India Private Limited, a SEBI-registered entity responsible for IPO allotment and refund processing.

Sirma SGS Technologies IPO: Subscription Status

Sirma SGS Technology’s Rs 840 crore IPO, which was subscribed 32.61 times on the last day of bidding. According to NSE. Sirma SGS Technology IPO received bids for 93,14,84,536 shares while 2,85,63,816 shares were offered. According to NSE data, Qualified Institutional Buyers (QIBs) led the way for subscriptions as they bid 87.56 times on the last day, while the portion reserved for non-institutional investors was subscribed 17.50 times and Retail Individual Investors (RII) 5.53 times. was folded.

Sirma SGS Technologies IPO: GMP Today

According to market experts, the shares of Sirma SGS Technologies are currently available at a premium of Rs 58 in the gray market. Market observers said Sirma SGS Technologies IPO GMP is today Rs 58, which means gray market is expecting Sirma SGS Technologies IPO listing to be around Rs 278 (Rs 220 + Rs 58), which is around Rs 22 from its price band. percentage is higher. Rs 209 to Rs 220 per equity share.

However, stock market analysts have warned IPO investors to take the investment decision on the basis of GMP. He said that GMP is unofficial and non-regulated data. It has nothing to do with the financial position of the company. He advised investors to look at the solid fundamentals available on the company’s balance sheet.

Sirma SGS Technology will finalize the basis for allotment of shares by August 23 and initiate refunds to unsuccessful investors by August 24. The equity shares will be credited to the demat accounts of eligible investors by August 25. The shares will start trading on BSE. And NSE will start from 26th August.

Sirma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS) that specializes in precision manufacturing. Its clients include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering, and Business Solutions, Eureka Forbes and Total Power Europe BV. It operates through eleven manufacturing facilities in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka and has three R&D facilities located in Tamil Nadu, Haryana and Germany.

According to the company, the net proceeds from the new issue will be used to finance capital expenditure requirements for expansion of manufacturing, R&D facilities, long-term working capital requirements and general corporate objectives.

Leave a Reply

Your email address will not be published. Required fields are marked *