Sathlokhar Synergys IPO price band set at ₹133 - 140 per share; SME IPO to open on July 30

Sathlokhar Synergys IPO: Sathlokhar Synergys E&C Global Ltd, an integrated EPC company, will launch its initial public offering (IPO) on Tuesday to raise ₹92.93 crore from primary markets.

Sathlokhar Synergys IPO is an SME IPO that opens for subscription on July 30 and closes on August 1. The bidding for the Anchor portion will open on July 29.

Sathlokhar Synergys IPO price band has been set at ₹133 to ₹140 per share. The issue is entirely a fresh issue of up to 66.38 lakh equity shares of a face value of ₹10 each. At the upper end of the price band, the company plans to raise ₹92.93 crore from the IPO.

Sathlokhar Synergys E&C Global IPO lot size is 1,000 shares and the minimum investment amount required by retail investors is ₹140,000. The IPO allotment is expected to be finalized on August 2 and the IPO listing date is August 6. The equity shares of Sathlokhar Synergys E&C Global will be listed on the NSE Emerge platform.

The net proceeds from the issue are set to be utilized primarily to meet working capital requirements of the company, strategic initiatives, brand building, operational expenses and general corporate purposes.

In the Sathlokhar Synergys E&C Global IPO, up to 12.08 lakh equity shares are reserved for Qualified Institutional Buyers (QIB), not less than 9.06 lakh shares are reserved for Non-Institutional Investors (NII) and around 21.14 lakh shares are reserved for Retail Individual Investors (RII).

GYR Capital Advisors Private Limited is the Book Running Lead Manager to the Sathlokhar Synergys IPO, while Purva Sharegistry (India) Private Limited is the IPO registrar.

G Thiyagu, Sangeethaa Thiyagu, and Dinesh Sankaran are the promoters of the company.

“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.

Sathlokhar Synergys IPO GMP

Sathlokhar Synergys IPO GMP today, or grey market premium today, is ₹92 per share, according to stock market experts. This indicates that Sathlokhar Synergys shares are trading at ₹232 apiece in the grey market, a premium of 65.71% to the IPO price of ₹140 per share.

About Sathlokhar Synergys E&C Global Ltd:

Sathlokhar Synergys E&C Global Ltd is an integrated Engineering, Procurement, and Infra Turnkey Construction (EPC) company. The company manages projects from detailed design and planning through to procurement, engineering, execution, and commissioning. Sathlokhar provides specialized services in Mechanical, Electrical, Plumbing (MEP) installations, HVAC and Utilities through its in-house team of professionals.

The company is an authorized channel partner for Tata Power Solar Systems Ltd. and offers installation, sales, commissioning, and maintenance for solar power projects.

In FY24, Sathlokhar Synergys E&C Global Ltd reported a net profit of ₹26.21 crore and a revenue of ₹246.97 crore. The company’s net profit in FY23 was ₹5.45 crore and revenue was ₹87.15 crore.

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