Sathlokhar Synergys IPO Off to a Strong Start: 3.4x Subscribed on Day 1! Check GMP and Key Details
The initial public offering (IPO) for Sathlokhar Synergys E&C Global Ltd, an integrated EPC company, kicked off on Tuesday and quickly drew strong interest from investors. The IPO, valued at ₹92.93 crore, will remain open until August 1.
IPO Subscription Status:
On its first day, the IPO has already been subscribed 3.46 times. By 3:00 pm, bids were received for 1.46 crore equity shares, compared to the 42.28 lakh shares available. In detail:
- Retail category: 4.34 times subscribed
- Qualified Institutional Bidders (QIB): 3.50 times subscribed
- Non-Institutional Investors (NII): 1.35 times subscribed
Grey Market Premium (GMP):
The GMP for Sathlokhar Synergys shares is currently ₹140, meaning shares are trading at ₹280 in the grey market, which is double the IPO price of ₹140.
IPO Details:
- Opening Date: July 30
- Closing Date: August 1
- Allotment Date: August 2
- Listing Date: August 6
- Listing Platform: NSE Emerge
- Price Band: ₹133 to ₹140 per share
- Lot Size: 1,000 shares
- Minimum Investment: ₹140,000
Use of Funds:
The funds from this IPO will be used for working capital needs, strategic initiatives, brand building, operational expenses, and general corporate purposes.
Share Reservation:
- Qualified Institutional Buyers (QIB): 12.08 lakh shares
- Non-Institutional Investors (NII): 9.06 lakh shares
- Retail Individual Investors (RII): 21.14 lakh shares
Management and Financials:
- Book Running Lead Manager: GYR Capital Advisors Private Limited
- IPO Registrar: Purva Sharegistry (India) Private Limited
Sathlokhar Synergys E&C Global Ltd specializes in Engineering, Procurement, and Construction (EPC) services, including Mechanical, Electrical, and Plumbing (MEP) installations. The company is also an authorized partner for Tata Power Solar Systems Ltd.
In FY24, the company reported a net profit of ₹26.21 crore on revenue of ₹246.97 crore, up from a net profit of ₹5.45 crore and revenue of ₹87.15 crore in FY23.
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