Sirma SGS Tech Initial Public Offering subscribed 32.61 times on last day

Sirma SGS Tech Initial Public Offering subscribed 32.61 times on last day


Sirma SGS Technology on Thursday raised Rs 252 crore from anchor investors.

New Delhi:

The initial public offer (IPO) of Sirma SGS Technology was subscribed 32.61 times on the last day on Thursday.

According to NSE data, in the Rs 840 crore IPO, bids were received for 93,14,84,536 shares, while 2,85,63,816 shares were offered.

Qualified Institutional Buyers (QIBs) were subscribed 87.56 times, non-institutional investors 17.50 times and Retail Individual Investors (RIIs) 5.53 times.

The IPO consisted of a fresh issue of equity shares worth Rs 766 crore and an offer for sale of 33,69,360 equity shares.

The offer price was Rs 209-220 per share.

Sirma SGS Technology on Thursday raised Rs 252 crore from anchor investors.

It was the first company to enter the primary market in two and a half months. Earlier, the IPO of Ather Industries was open for public subscription during May 24-26.

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.

Sirma SGS is a technology-focused engineering and design company engaged in Turnkey Electronics Manufacturing Services (EMS). Its clients include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering & Business Solutions, Eureka Forbes and Total Power Europe BV.

DAM Capital Advisors, ICICI Securities and IIFL Securities were the managers of the offer.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Indian Lekhak

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