18 Aug , 2022 By : Kanchan Joshi
Syrma SGS Technologies IPO: Four days subscription for the public issue worth Rs840 crore is going to end today. As per Syrma SGS Technologies IPO subscription status by 12:34 PM on day 4 of bidding, the public offer has been subscribed 4.64 times whereas its retail portion has been subscribed 3.80 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 Rs36.
Syrma SGS Technologies IPO GMP
As per the market observers, Syrma SGS Technologies IPO grey market premium (GMP) today is Rs36, which is Rs4 lower from its Wednesday's grey market premium of Rs40 per equity share. They said that Syrma SGS Technologies IPO GMP got more than doubled from Monday to Friday as it shot up from Rs15 to Rs40. 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 Rs36, it means that grey market is expecting Syrma SGS Technologies IPO listing around Rs256 ( Rs220 rs36), which is around 16 per cent higher from its price band of Rs209 to Rs220 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 Rs2,804.3 Mn, Rs1,931.3 Mn and Rs2,521.2 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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