Weak demand: Syrma SGS Technology IPO subscribed 2.27 times

Syrma SGS Technology maiden share sale garnered a lukewarm response with initial public offering (IPO) garnering less than two times subscription. 

The qualified institutional buyer portion was subscribed 71 per cent. Retail and the two categories meant for high networth individuals garnered over three times subscription. 

The tepid response to the IPO signals that the sentiment continues to remain weak towards primary share sales, said market experts. 

Syrma SGS’ IPO was the first issue to hit the market in nearly three months. Syrma SGS, an electronic systems design and manufacturing firm, had set the price band for