Sathlokhar Synergys makes robust debut, lists at 86% premium to IPO price on NSE Emerge

Sathlokhar Synergys E&C Global Limited made a robust market debut on Tuesday, with its shares listing at a premium of nearly 86% to the issue price.

The stock opened at ₹260 per share on the NSE SME platform, Emerge, 85.71% higher compared to the IPO price of ₹140 per share.

According to NSE data, more than 12.3 lakh shares, amounting to a total traded value of ₹31.71 crore, changed hands within the first 15 minutes of the stock market debut.

After listing at a premium, the stock pared early gains and plunged up to 5% to hit an intraday low of ₹247 apiece on the NSE amid profit booking.

The ₹92.93-crore Sathlokhar Synergys E&C Global IPO, entirely a fresh issue of 66.38 lakh shares, opened for subscription on July 30 and closed on August 1, 2024.

The SME IPO's price band per share was fixed at ₹133 to ₹140 with a minimum lot size for an application at 1000 shares, requiring retail investors to invest a minimum of ₹1,40,000. For high net worth individuals (HNIs), the minimum lot size to bid was 2 lots or 2000 shares, amounting to ₹2,80,000.

GYR Capital Advisors Private Limited served as the book-running lead manager for the Sathlokhar Synergys E&C Global IPO, with Purva Sharegistry India Pvt Ltd as the registrar. Giriraj Stock Broking was the market maker for this IPO.

Sathlokhar Synergys E&C Global IPO subscription:

Sathlokhar Synergys E&C Global Ltd IPO received a robust response from investors, with an oversubscription of more than 211 times on the final day of bidding on August 1. The initial public offering received bids for over 89 crore shares against 42.28 lakh shares on offer.

The IPO sale was driven by strong demand from all three investor categories: Non-Institutional Buyers (NIIs) subscribed 382.11 times, retail investors 160.47 times, and Qualified Institutional Buyers (QIBs) also showed substantial interest with 171.55 times oversubscription.

The Sathlokhar Synergys E&C Global IPO was open for bidding from July 30 to August 1.

About Sathlokhar Synergys E&C Global Limited

Sathlokhar Synergys E&C Global Limited, established in 2013 and formerly known as Lohats Ventures Private Limited, provides specialised engineering, procurement, and construction (EPC) services. The company engages in various projects, including industrial, commercial, and institutional buildings, solar projects, hospitals, and hotels.