Syrma SGS Technology IPO closes with 2.27x bids

The Rs 840-crore initial public offering of Syrma SGS Technology was subscribed 2.27 times on the final day of bidding on Wednesday. The issue received bids for 64.8 million shares against the 28.6 million shares on offer, according to the stock exchange data.

The IPO, the first in nearly three months, opened on August 12 for subscription. The portion reserved for high net worth individuals was subscribed 3.58 times while the retail investors’ portion received bids for 2.66 times the shares set aside for them. The qualified institutional buyers’ portion was undersubscribed at 0.71 times.

The IPO comprised a fresh issue of shares aggregating to Rs 766 crore and an offer for sale of up to 3.37 million shares.