Syrma SGS Technology Ltd IPO lists at premium of 18.2% and moves higher

Syrma SGS Technology Ltd had a strong listing on 26th August 2022, listing at a premium of 18.2%, and closing the day well above the listing price. While the stock did show some bouts of volatility during the day, it closed the day exactly at the 20% upper circuit on the NSE, which is calculated from the listing price. With overall subscription of 32.61X  with QIB subscription at 87.56X, the listing was expected to be strong. Here is the Syrma SGS Technology Ltd listing story on 26th August 2022.

The IPO price was fixed at the upper end of the band at Rs.220 considering the 32.61X overall subscription. The price band for the IPO was Rs.209 to Rs.220. On 26th August, the stock of Syrma SGS Technology Ltd listed on the NSE at a price of Rs.260, a premium of 18.2% above the issue price of Rs.220. On the BSE also, the stock listed at Rs.262 a premium of 19.09% on the issue price.

On the NSE, Syrma SGS Technology Ltd closed on 26th August 2022 at a price of Rs.312, a first day closing premium of 41.82% on the issue price of Rs220. On the BSE, the stock closed at Rs.313.05, a first day closing premium of 42.30% on the issue price. On both the exchanges, the stock not only listed above the IPO issue price but closed Day-1 exactly at 20% circuit on the NSE and 19.5% higher on BSE, calculated from listing price of the stock.

On Day-1 of listing, Syrma SGS Technology Ltd touched a high of Rs.312 on the NSE and a low of Rs.256.40. The premium held through the day. On Day-1 of listing, the Syrma SGS Technology Ltd stock traded a total of 599.62 lakh shares on NSE amounting to value of Rs.1,740.33 crore.  On 26th August 2022, Syrma SGS Technology Ltd was the most active share on NSE by traded value. However, by traded volumes, Syrma ranked 09th on the NSE.

On the BSE, Syrma SGS Technology Ltd touched a high of Rs.314.40 and a low of Rs.257. On BSE, the stock traded a total of 54.77 lakh shares amounting to value of Rs.161.18 crore. It was the most active share on the BSE in terms of trading value. However, by traded volumes, Syrma ranked 14th on the BSE.
At the close of Day-1 of listing, Syrma SGS Technology Ltd had a market capitalization of Rs.5,516.85 crore with free-float market cap of Rs.827.53 crore.