The actions of Syrma SGS Technologies make their strong entry on Dalal Street

Syrma SGS Technologies stock made its strong debut on Dalal Street today. As expected by various market experts, shares of Syrma SGS Technologies opened on BSE at 262 levels each, offering approximately 19% sign-up bonus to the assignees compared to the issue price of 2.9 to 220 per share.

Syrma SGS Technologies share price opened today on BSE at 262 and hit an intraday high of 293 levels each, offering approximately 33% sign-up bonus to lucky recipients. Syrma SGS Technologies stock hits intraday low of 257 each on the BSE minutes after listing on the Indian Stock Exchange.

The initial public offering of Syrma SGS Technology was the subject of a new share issue comprising 766 crore and a sell offer of up to 33,69,360 shares. The company said the net proceeds from the new issue will be used to fund capital expenditure needs to expand manufacturing, R&D facilities, long-term working capital requirements and general business needs. .

Speaking on the strong Syrma SGS Technologies stock quote, Ravi Singhal, CEO of GCL Securities, said: “Those with a short-term view are advised to profit and exit, while those with a long-term view can hold the stock for more gains. because the title looks solid from a fundamental point of view.”

Echoing Ravi Singhal’s views, Manoj Dalmia, Founder and Director of Proficient Equities, said: “The segment in which SSTL operates is also about to open up to great prospects and investors can consider it with medium and long term prospects.

The public issue was subscribed 32.61 times while its retail part was subscribed 5.53 times. It was subscribed 87.56 times in the QIB category while its NII part was subscribed 17.50 times.

Syrma SGS Technology, incorporated in 2004, is a Chennai-based technology driven engineering and design company engaged in turnkey electronics manufacturing (EMS) services. Its customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Total Power Europe BV.

It operates through eleven manufacturing plants in Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka and has three R&D facilities located in Tamil Nadu, Haryana and Germany.

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