Syrma SGS Technology IPO
Syrma SGS Technology Limited (SYRMA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 August 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +41.5% (likely range +29% to +71%), day's high +70.2%, chance of a gain 97%. Actual: +18.2% at the open, +41.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 85,53,777 | 74,89,86,612 | 87.6x | |
| NII (HNI) total | 60,03,012 | 10,50,52,996 | 17.5x | |
| Big NII (above ₹10 lakh) | 40,02,008 | 7,60,93,972 | 19.0x | |
| Small NII (₹2-10 lakh) | 20,01,004 | 2,89,59,024 | 14.5x | |
| Retail | 1,40,07,027 | 7,74,44,928 | 5.53x | |
| Total | 2,85,63,816 | 93,14,84,536 | 32.6x |
Bids on NSE and BSE together, as published by NSE, as of 18 Aug 2022, 05:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Syrma SGS Technology's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Campus ActivewearApr 2022 | 152x | 22.3x | 7.68x | 51.8x | ₹1,400 Cr | +23.3% | +43.1% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| ZomatoJul 2021 | 51.8x | 33.0x | 7.45x | 38.3x | ₹9,899 Cr | +52.6% | +82.8% |
| CarTrade TechAug 2021 | 35.4x | 41.0x | 2.75x | 20.3x | ₹2,999 Cr | -1.1% | 0.0% |
| Dodla DairyJun 2021 | 84.9x | 73.3x | 11.3x | 45.6x | ₹520 Cr | +28.5% | +52.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors | 37 | +13.6% | 59% |
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Syrma SGS Technology IPO price band and lot size? ₹209–220 per share, with a lot of 68 shares, so the smallest retail bid is ₹14,960.
How many times has it been subscribed? 32.6x overall: QIB 87.6x, NII 17.5x, retail 5.53x.
How did it list? It opened at ₹260, +18.2% against the issue price of ₹220, and closed its first day +41.1%.
