Syrma SGS Technology’s Rs 840-crore IPO to open on Friday

Electronic manufacturing services firm Syrma SGS Technology on Monday said it will come out with its Rs 840-crore initial share sale on August 12, which will end two-and-a-half months of the gap in the initial public offering (IPO) market.

The company has fixed a price band of Rs 209-220 per equity share for its IPO, according to a statement.

This would be the first company to tap the primary market in two-and-a-half months. Prior to that, the IPO of Aether Industries was opened for public subscription during May 24-26.

Companies were not taking the IPO route for fundraising due to the volatility in the markets. In fact, many firms that received Sebi’s go-ahead are waiting for the right time to float their issues as current market conditions are challenging.