Sathlokhar Synergys IPO price band set at ₹133 - 140 per share

Sathlokhar Synergys E&C Global Ltd, an integrated EPC company, is launching its initial public offering (IPO) on Tuesday, aiming to raise ₹92.93 crore from the primary markets. The IPO, classified as an SME IPO, will be open for subscription from July 30 to August 1, with anchor investor bidding beginning on July 29.

The IPO price band is between ₹133 to ₹140 per share, and the company plans to raise ₹92.93 crore at the upper price limit. The lot size for the IPO is 1,000 shares, requiring a minimum investment of ₹140,000 from retail investors. The IPO allotment is expected to be finalized on August 2, with the listing date set for August 6. The equity shares will be listed on the NSE Emerge platform.

The net proceeds from the IPO will be used mainly for working capital requirements, strategic initiatives, brand building, operational expenses, and general corporate purposes. In the IPO, up to 12.08 lakh equity shares are reserved for Qualified Institutional Buyers (QIB), not less than 9.06 lakh shares for Non-Institutional Investors (NII), and around 21.14 lakh shares for Retail Individual Investors (RII).

GYR Capital Advisors Private Limited is the Book Running Lead Manager, and Purva Sharegistry (India) Private Limited is the registrar for the IPO. The company's promoters are G Thiyagu, Sangeethaa Thiyagu, and Dinesh Sankaran.

"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, and CEO of Sathlokhar Synergys E&C Global Ltd.

As of today, the grey market premium (GMP) for Sathlokhar Synergys IPO is ₹92 per share, suggesting that the shares are trading at ₹232 each in the grey market, a 65.71% premium over 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. It handles projects from detailed design and planning to procurement, engineering, execution, and commissioning. The company specializes in Mechanical, Electrical, Plumbing (MEP) installations, HVAC, and Utilities with its in-house team of professionals.

Authorized as a channel partner for Tata Power Solar Systems Ltd., Sathlokhar offers installation, sales, commissioning, and maintenance for solar power projects. In FY24, the company reported a net profit of ₹26.21 crore and revenue of ₹246.97 crore, compared to a net profit of ₹5.45 crore and revenue of ₹87.15 crore in FY23.

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