We are pleased to inform you that the Initial Public offering (IPO) of Syrma SGS Technology Limited (SSTL), a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS), opens for subscription on 12th August 2022 and will close on 18th August 2022.
Key Points:
- Price band: Rs. 209 to Rs. 220 per share for a bid lot of 68 equity shares and its multiples thereafter
- Face Value: Rs.10 per equity share
- Issue Size: Rs. 840.13 crore comprising of fresh issue of Rs. 766 crore and an offer for sale of up to 3,369,360 equity shares
At the upper price band of Rs.220, SSTL is available at a P/E of 50.7x (FY22), which is available at a discount to its peers. Considering its good peer financial performance, strong focus on R&D, capacity expansion plans, positive industry outlook with government support through PLI schemes and China plus one strategy of multinational companies, Geojit has a ‘SUBSCRIBE’ rating for the issue on a medium to long term basis.
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