Syrma SGS Technology files draft papers

Syrma SGS Technology files draft papers
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Syrma SGS Technology

Syrma SGS Technology has filed draft papers for IPO with the regulator. The offer comprises an issuance of shares worth Rs 926 crore and an offer for sale of up to 33,69,360 shares by promoter Veena Kumari Tandon. The Company is likely to raise around Rs 1,000-1,200 crore through its public issue. The company may consider a further issuance of shares worth Rs 180 crore through a rights issue, private placement, preferential offer or any other method. Tech-focused engineering and Design Company Syrma SGS is engaged in turnkey electronics manufacturing services, specialises in manufacturing for end-use industries including industrial appliances, automotive, healthcare, consumer products and IT. Promoter and promoter group’s shareholding in the company is 62.89 per cent and the remaining stake of 37.11 percent is held by public shareholders including South Asia Growth Fund II and Modern Die Casting LLP.

Nandan Terry files papers with SEBI

Nandan Terry has filed the draft red herring prospectus with Sebi.  The company plans to raise Rs 254.96 crore through its public issue. The Chiripal Group Company is going to consider fund raising of Rs 40 crore in a pre-IPO placement, prior to filing of the red herring prospectus with the Registrar of Companies. Ahmedabad-based was incorporated in 2015. It is a fully vertically integrated company engaged in principle business of manufacturing terry towels & toweling products. It enjoys presence in industries such as textiles, education, real estate, packaging and chemicals and offers a wide spectrum of manufacturing, contract manufacturing, trading, distribution and service-related activities to sectors like textiles, education, packaging, and infrastructure, petrochemical besides others.

JK Files & Engineering files IPO papers

Raymond-promoted JK Files & Engineering has filed draft red herring prospectus with the Sebi to raise funds. The company is planning to raise Rs 800 crore through its public issue that comprises entirely an offer for sale by the promoter Raymond. Hence the company will not get any money from public issue and all the money will go to selling shareholder. The offer will include reservation of shares for employees and shareholders. JK Files is engaged in the business of manufacturing of precision engineered components for tools and hardware such as steel files and drills, and marketing, sale and distribution of hand tools, power tool accessories and power tool machines. Its subsidiary RPAL also manufactures auto components and engineering products such as ring gears, flexplates and water pump bearings. Its customer base comprises business-to-business (B2B) customers as well as business-to-consumer (B2C) customers spread in more than 60 countries, as of June 2021, located across Asia-Pacific, Africa, Latin America, Europe and North America.

Tega Industries makes impressive debut

Tega Industries‘ shares had a strong listing as the stock closed with a whopping 60 percent premium over issue price despite weakening market sentiment on December 13. The stock opened at Rs 753 on the BSE, rising 66.2 percent over the issue price of Rs 453 per share. The company had raised Rs 619 crore through its public issue at an upper price band of Rs 453 per share. It was a complete offer for sale issue, so the company did not get any money from the offer. Kolkata-based Tega Industries is a leading manufacturer and distributor of specialized ‘critical to operate’ and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry, on the basis of June 2021 sales. Globally, it is the second largest producer of polymer-based mill liners, on the basis of revenues.

About the author: IE&M Team
IE&M Team
Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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