Sirma SGS Technology Rs. 840 crore IPO will open for subscription on 12 August 2022. Sirma SGS will be the first company to enter the primary market after a gap of 80 days.
IPO will hit the market again after 80 days, Sirma SGS IPO is coming
The IPO market is set to make a comeback after a long gap of 80 days. A company associated with the engineering and design segment is coming up with its IPO. This company is Sirma SGS Technology. Sirma SGS Rs. 840 crore IPO will open for subscription on 12 August. Sirma SGS will be the first company to enter the primary market after a gap of 80 days. The IPO market has dried up over the past few months due to the ongoing volatility in the market.
Last IPO was
Sirma SGS offers Rs. 766 crore in fresh issue and Rs. 75 crores included in the sale offer. The anchor book of the issue will open on August 11. This has been said in the report of Economic Times. The IPO of Ather Industries closed on 26 May 2022. This was the last issue in the year 2022. Between January and May this year, 16 companies, including LIC, raised Rs 40,310 crore from the market. At the same time, in the last year 2021, 63 companies had raised Rs 1.19 lakh crore.
Promoters hold 61.47 per cent stake in Sirma SGS
After LIC’s mega IPO, weak sentiment in the secondary market and weak demand for more than half a dozen public issues has affected the mood of the primary market. Bankers say gains of around 10 per cent in Sensex and Nifty are encouraging some companies to launch their pending IPOs.
Talking about Syrma SGS, the company’s revenue in FY22 increased by 43% to Rs. 1267 crore has been done. At the same time, the company’s profit increased by 17 per cent to Rs. 76.46 crores. According to the red hearing prospectus, the promoters hold 61.47 per cent stake in the company.