The initial public offering of Syrma SGS Technology received a decent response from investors, especially retail, as it was subscribed 37 percent on the first day of bidding, August 12.
Investors so far have put in bids for 1.05 crore equity shares against the offer size of 2.85 crore equity shares, as per the data available with the exchanges.
The offer size has been reduced to 2.85 crore equity shares, from more than 3.8 crore equity shares after the fundraising via anchor book on August 11.
Retail investors were at the forefront, buying 69 percent of shares reserved for them, while the portion set aside for non-institutional investors was subscribed to 13 percent. Qualified institutional buyers are yet to participate in the offer.
The initial public offering comprises a fresh issue of Rs 766 crore and an offer for the sale of 33.69 lakh equity shares by the promoter. The price band for the offer is Rs 209-220 per share.
The issue will remain open for subscription till August 18 as banks are shut between August 13-16, 2022.