Sathlokhar IPO Subscribed More Than 200 Times On Final Day
The SME IPO was subscribed 6.73 times on day 1 led by interest from retail investors and 23.45 at the end of day 2.
The initial public offering (IPO) of Sathlokhar Synergys E&C Global Ltd. opened for subscription on July 30. The Sathlokhar Synergys E&C Global IPO is a book-built issue valued at Rs 92.93 crores, consisting entirely of a fresh issue of 66.38 lakh shares. The SME IPO was subscribed 6.73 times on day 1 led by interest from retail investors and 23.45 times at the end of day 2.
Sathlokhar Synergys IPO Day 3 Subscription Status
The IPO was subscribed 211.13 times as of 06:18 p.m. on Thursday.
Anchor investors: 1 time.
Non-institutional buyers: 382.11 times.
Retail investors: 160.47 times.
Qualified Institutions: 171.55 times.
Sathlokhar Synergys E&C Global IPO Details
The price band for the IPO is set between Rs 133 and Rs 140 per share. For retail investors, the minimum lot size is 1,000 shares, requiring an investment of Rs 1,40,000. High Net-Worth Individuals are required to invest in a minimum of 2,000 shares, totaling Rs 2,80,000.
The SME IPO will close on Thursday, August 1. The allotment process is expected to be finalised by Friday, August 2 with the shares scheduled to list on NSE SME on Tuesday, August 6
GYR Capital Advisors Private Ltd. is serving as the book-running lead manager for the IPO, while Purva Sharegistry India Pvt. Ltd. is the registrar. Giriraj Stock Broking has been appointed as the market maker for this IPO.
As per the IPOs red herring prospectus (RHP), 35% of the issue is reserved for retail investors, 15% for non-institutional buyers and 50% for qualified institutions.
About Sathlokhar Synergys E&C Global Ltd.
Established in 2013 and formerly known as Lohats Ventures Private Ltd., Sathlokhar Synergys E&C Global Ltd. specialises in engineering, procurement, and construction (EPC) services for a variety of building and infrastructure projects.
The company undertakes construction for industrial, warehousing, commercial, institutional, and pharmaceutical projects, as well as solar installations, hospitals, hotels, resorts, and villas. Sathlokhar Synergys also handles mechanical, electrical, and plumbing network installations. It has completed projects across Tamil Nadu, Karnataka, Uttar Pradesh, and West Bengal, and is also an authorized dealer for TATA Power Solar Systems Ltd.
Sathlokhar Synergys E&C Global IPO: Use of Funds and Objectives
The funds raised from the IPO will be utilised primarily for working capital requirements and general corporate purposes. This includes supporting the company's ongoing operations and strategic initiatives. The allocation aims to strengthen the company’s financial position and support its growth trajectory.
Financial Performance of Sathlokhar Synergys E&C Global Ltd.
Between the financial years ending March 31, 2023, and March 31, 2024, the company’s revenue surged by 183.77%, while profit after tax (PAT) soared by 380.51%, as per chittorgarh.com.
Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in any particular IPO. The above article is meant for informational purposes only, and should not be considered as any investment advice.
