Syrma SGS Technology IPO: Issue subscribed 85% on the second day

The IPO of Syrma SGS Technology was subscribed 85 per cent on Tuesday, a day before its close. 

Retail investor portion of the issue was subscribed 1.5 times, while high net-worth individual portion was subscribed 63 per cent. 

The institutional investor quota was yet to see any bids. 

Last week, the company had allotted shares worth Rs 252 crore to anchor investors. 

Syrma SGS’ IPO is the first issue to hit the market in nearly three months. 

Syrma SGS, an electronic systems design and manufacturing firm, has set the price band for its IPO at Rs 209-220 per share. 

At the top-end, the company will be valued at Rs 3,877 crore. Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS).