Syrma SGS Technology Limited IPO : Issue opens 12th Aug 2022
Incorporated in 2004, Syrma SGS Technology Limited is a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS). The company provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation and product realization.
Product Portfolio:
- Printed circuit board assemblies (PCBA)
- Radio frequency identification (RFID) products
- Electromagnetic and electromechanical parts
- Motherboards
- Memory products - DRAM modules, solid state, and USB drives.
Manufacturing:
The company operates through eleven manufacturing facilities in north India (i.e. Himachal Pradesh, Haryana, and Uttar Pradesh) and south India (i.e. Tamil Nadu and Karnataka). The manufacturing facilities in Tamil Nadu are located in a special economic zone. The manufacturing facility in Haryana has been set up under the Electronic Hardware Technology Park scheme, which allow the company to avail tax and other benefits.
R&D Capabilities:
The company has three dedicated R&D facilities, two of which are located at Chennai and Gurgaon and one in Stuttgart, Germany.
Objects of the Issue
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding capital expenditure requirements for the development of an R&D facility and expansion / setting up of manufacturing facilities.
- Funding long-term working capital requirements.
- General corporate purposes.
Company Promoters:
The promoters of the company are Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon and Tancom Electronics Private Limited.
Promoters collectively hold 58.78% of the Equity Share as of Dec 31st, 2021.
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