Engineering and design firm Syrma SGS Technology Ltd has fixed the price range for its IPO at Rs 209-220 per share, which is scheduled to open to the public on August 12 and close on August 18.

This will be the first IPO in the past two and a half months. The anchor book will be open for one day on August 11.
The IPO includes a fresh issue of shares worth Rs 766 crore and an offer by promoter Veena Kumari Tandon to sell up to 3.37 million shares. The company will raise a total of Rs 840 crore at the high end of the price range. The company will go public on August 24.

Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services, specialising in precision manufacturing for various end-use industries, including industrial appliances, automotive, healthcare, consumer products and IT.

Its FY22 revenue rose 43% year-on-year to Rs 1,267 crore, while net profit rose 17% to Rs 76,46 crore.

The company provides products to more than 200 clients, 16 of whom have been with the company for over ten years, contributing pro forma revenue of Rs 262.8 crore in FY22. Its customers include TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solutions, Eureka Forbes, CyanConnode, Atomberg Technologies, Hindustan Unilever and Total Power Europe BV.