Syrma SGS Technology files draft papers to raise up to Rs 1,200 cr via IPO
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Electronic manufacturing services firm Syrma SGS Technology has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 1,200 crore through an initial public offering (IPO). The public issue comprises fresh issue of shares worth Rs 92Syrma SGS Technology files draft papers to raise up to Rs 1,200 cr via IPO
Electronic manufacturing services firm Syrma SGS Technology has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 1,200 crore through an initial public offering (IPO). The public issue comprises fresh issue of shares worth Rs 926 crore, and an offer for sale (OFS) of up to 33.69 lakh equity shares by Veena Kumari Tandon, according to the draft red herring prospectus (DRHP). The company may also consider raising Rs 180 crore via a pre-IPO placement before filing its red herring prospectus and, if that happens, the issue size will be altered accordingly. As per market sources, the company is looking to garner between Rs 1,000 crore and Rs 1,200 crore. The net proceeds from fresh issue will be utilised for funding capital expenditure requirements to expand manufacturing as well as R&D facilities, funding long-term working capital requirements besides general corporate purposes. Syrma SGS is a technology-focussed engineering and design company engaged in . Read more