InvestorQ : Can you tell me about how the IPO of Syrma SGS listed on the NSE and the BSE on Friday?
manisha Kolvenkar made post

Can you tell me about how the IPO of Syrma SGS listed on the NSE and the BSE on Friday?

Crowny Pinto answered.
2 months ago

Syrma SGS Technology Ltd listed on the NSE and BSE on 26th August at a healthy premium and continued to trade in the positive through the day. Here are some major highlights of the listing day performance of Syrma SGS IPO.

a) The stock of Syrma SGS Technology Ltd had a strong listing on 26th August 2022. It listed at a premium of 18.2% and closed the day well above the listing price. With 32.61X subscription overall, the IPO price had been fixed at the upper end of the price band of Rs220 (209-220 band).

b) On the NSE, the stock of Syrma SGS listed on 26th August at a price of Rs.260, representing a premium of 18.2% above the issue price of Rs.220. The stock listed at Rs262 on the BSE, again a healthy premium of 19.09% on the issue price.

c) If the listing of the Syrma SGS Technology was strong and robust, the closing was much stronger on listing day. On the NSE, the stock closed at Rs312, with first day closing premium of 41.82% on issue price of Rs220. The company also had a closing at a premium of 42.30% at Rs313.05 on the BSE. On the NSE, the stock hit 20% upper circuit.

d) The intraday high on the day of listing for Syrma SGS Technology was Rs.312 on the NSE while the intraday low was Rs.256.40. On the BSE, Syrma SGS Technology touched a high of Rs.314.40 and a low of Rs.257. The broad performance was similar on NSE and BSE.

e) Let me now turn to the volumes performance on the NSE on Day-1 of listing of Syrma SGS Technology Ltd. On the NSE, the stock traded a total of 599.62 lakh shares with trading value of Rs.1,740.33 crore. For the day, Syrma SGS Technology ranked as the most active stock by traded value. Syrma ranked 09th by trading volumes.

f) What was the volume scenario on the BSE on Day-1 of listing? On BSE, the stock traded 54.77 lakh shares with a turnover value of Rs.161.18 crore. Again, Syrma SGS was the most active stock on BSE in terms of trading value, but 14th on volumes on the BSE.

g) At the close of the first day of listing, Syrma SGS Technology reported a market capitalization of Rs.5,516.85 crore. Market cap is the number of shares outstanding multiplied by the closing stock price. The free-float market cap was Rs.827.53 crore