Syrma SGS Tech IPO Listing Tomorrow: GMP Hints At Listing Pop

IPO of Syrma SGS Tech Technology is set to make its D-Street debut tomorrow (August 26, 2022). Reportedly, since the public issue of the electronic products manufacturer opened on August 12, 2022, its grey market premium or GMP has been soaring from Rs. 20 to 55 per equity share. In fact the two day's sharp fall witnessed on the back of weak global cues didn't deterred the sentiments and its GMP remained intact at Rs. 55 levels.

Syrma SGS Tech IPO Listing Tomorrow: GMP Hints At Listing Pop

GMP of a public issue or IPO is the price that it commands in the unlisted equity market. It can be at a premium or at a discount to the issue offer price.

Even just a day before the IPO listing, shares of Syrma SGS Tech are commanding a hefty premium of around Rs. 55-60 per share as against the issue's IPO price of Rs. 220.

Market observers are of the view that the company shall make a strong debut given the strong fundamentals, healthy subscription, growth prospects and rebound in the broader equity markets.

"Company's fundamentals are sound which attracted the investors. Improvement in the secondary market conditions has pushed the premium in the unofficial market higher," says Abhai Doshi-cofounder-UnlistedArena.

The Rs. 840 crore Syrma SGS IPO was open for subscription between August 12-18. The price band for the issue was fixed between Rs. 209-220 per share.

The issue received decent response as it was subscribed 32.61 times.

Syrma SGS has been in presence for over 4 decades now. The company is into electronic system design and manufacturing. It provides high-mix, flexible volume, precision OEM manufacturing. The company's one-stop-solution electronics manufacturing services (EMS) includes product design, quick prototyping, PCB assembly, Box build, repair & rework and automatic tester development services. Syrma SGS also offers OEM solutions for RFID tags & inlays and high-frequency magnetic components. The company serves global OEMs in 20+ countries and have supplied several hundreds of million units.