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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capacity expansion and R&D infrastructure
Funding capital expenditure toward setting up new manufacturing capacity and R&D facilities.
Working capital
Funding the company's long term working capital requirements.
General corporate purposes
Balance of the fresh issue proceeds for general corporate purposes.
(₹ in Crore)
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Syrma SGS Technology Limited is a Chennai-based engineering and design company that provides electronics manufacturing services (EMS) to original equipment manufacturers across industries such as industrial appliances, automotive, healthcare, consumer products and IT. Its offerings span the full product lifecycle, from initial design and rapid prototyping to PCB assembly, box build manufacturing, repair and rework, and automatic tester development, along with specialized capabilities in RFID tags, inlays and high frequency magnetic components. Incorporated in 2004, the company has grown into a multi facility manufacturer, operating 11 manufacturing plants across India supported by research and development centers in Chennai, Gurugram and Stuttgart, Germany. It counts several well known names among its customers, including TVS Motors, A. O. Smith, Eureka Forbes and Hindustan Unilever, and serves original equipment manufacturers in more than 20 countries. The company operates in India's rapidly expanding EMS industry, which is benefiting from the diversification of global electronics supply chains and from rising demand for precision manufacturing tied to newer technologies. Long standing global sourcing relationships help the company manage input costs, while it continues to work toward a higher margin product mix as it scales operations.
Syrma SGS Technology raised approximately Rs 252 crore from anchor investors ahead of the issue opening, with participation from institutional names including Nomura, Eastspring Investments, Volrado Venture Partners Fund, Abakkus Emerging Opportunities Fund, Malabar Select Fund, Kuber India Fund and Franklin India.
Source: RHP • Analysis provided for informational purposes
Last Updated: 19 July 2026, 5:30 AM
Positioned for supply chain diversification
The company is well placed to benefit from the global electronics industry's shift toward diversifying manufacturing beyond a single country, supported by an R&D center in Germany.
Established EMS player with marquee clients
Recognized as one of India's fastest growing electronics manufacturing services companies, offering end-to-end design-to-production solutions for well known global OEM clients.
Global sourcing relationships
Long standing vendor relationships across geographies help the company manage the cost of raw materials and components.
Shift toward higher-margin products
The company is working to grow the share of higher-margin products in its portfolio as it scales operations.
Rich valuation at listing
The issue was priced at a relatively high multiple of reported FY2022 earnings, leaving limited valuation cushion.
Cybersecurity exposure
The business depends on maintaining robust information security, and a lapse in cybersecurity controls could materially disrupt operations.
Pending legal proceedings
The company, its promoters, directors and certain subsidiaries are party to ongoing legal proceedings that could result in adverse outcomes.
Syrma SGS Technology Limited
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri (East), Mumbai, Maharashtra 400093, India
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