Sathlokhar Synergys E&C Global Ltd, an integrated EPC company, is launching its initial public offering (IPO) on Tuesday to raise ₹92.93 crore. The IPO, which is for small and medium enterprises (SMEs), opens for subscription on July 30 and closes on August 1. The bidding for the anchor portion will start on July 29.
Price Band and Investment Details
The IPO price band is set between ₹133 to ₹140 per share. This is a fresh issue of up to 66.38 lakh equity shares with a face value of ₹10 each. At the top end of the price band, the company aims to raise ₹92.93 crore.
The minimum investment for retail investors is ₹140,000, with a lot size of 1,000 shares. The IPO allotment is expected to be finalized on August 2, and the shares are set to be listed on the NSE Emerge platform on August 6.
Utilization of Proceeds
The funds raised from the IPO will be used mainly for working capital requirements, strategic initiatives, brand building, operational expenses, and general corporate purposes.
IPO Allocation
- Qualified Institutional Buyers (QIB): Up to 12.08 lakh equity shares.
- Non-Institutional Investors (NII): Not less than 9.06 lakh shares.
- Retail Individual Investors (RII): Around 21.14 lakh shares.
Management and Advisors
GYR Capital Advisors Private Limited is the Book Running Lead Manager for the IPO, and Purva Sharegistry (India) Private Limited is the registrar. The company’s promoters are G Thiyagu, Sangeethaa Thiyagu, and Dinesh Sankaran.
Promoter’s Statement
“Our IPO will provide the capital needed for further growth and expansion, allowing us to enhance our services, invest in new technologies, and expand our footprint. We are committed to quality, safety, and sustainability, and our partnerships, like with TATA Power Solar Systems Ltd., highlight our dedication to a greener future,” said G Thiyagu, Chairman, Managing Director & CEO of Sathlokhar Synergys E&C Global Ltd.
IPO Grey Market Premium (GMP)
As of today, the grey market premium (GMP) for Sathlokhar Synergys IPO is ₹92 per share. This means the shares are trading at ₹232 apiece in the grey market, a 65.71% premium over the IPO price of ₹140 per share.
Company Overview
Sathlokhar Synergys E&C Global Ltd is an integrated Engineering, Procurement, and Infra Turnkey Construction (EPC) company. The company handles projects from detailed design and planning to procurement, engineering, execution, and commissioning.
They offer specialized services in Mechanical, Electrical, Plumbing (MEP) installations, HVAC, and Utilities through an in-house team of professionals. Sathlokhar is also an authorized channel partner for Tata Power Solar Systems Ltd., providing installation, sales, commissioning, and maintenance for solar power projects.
Financial Performance
In FY24, Sathlokhar Synergys reported a net profit of ₹26.21 crore and revenue of ₹246.97 crore. The company’s net profit in FY23 was ₹5.45 crore, with a revenue of ₹87.15 crore.
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