The public issue of equity shares of SYRMA SGS TECHNOLOGY LIMITED will open for subscription on August 12, 2022 and closes on August 18, 2022. It is expected to list on the stock exchanges on August 26, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Incorporated in 2004, it is a technology-focused engineering and design company engaged in turnkey Electronics Manufacturing Services, specializing in precision manufacturing for diverse end-use industries, including industrial appliances, automotive, healthcare, consumer products and IT industries. The company provides integrated services and solutions to OEMs (Original Equipment Manufacturers), from the initial product concept stage to volume production through concept co-creation and product realization.

It is one of the leading PCBA (Printed Circuit Board Assembly) manufacturers in India, supplying to various OEMs and assemblers in the market, and is also amongst the top key global manufacturers of custom RFID (Radio Frequency Identification) tags. Its PCBAs are used in products manufactured in the automotive, medical, industrial, IT and consumer products industries. Whereas its RFID products are used in products manufactured in the shipping, healthcare, manufacturing, retail and fintech industries. The company also manufacturers Electromagnetic and Electromechanical parts, Motherboards, DRAM Modules, Solid State Drives, USB Drives, other Memory products, Set-top Boxes, 4G and LTE antennae, controllers of the EV Battery Management Systems, among others. The company is currently undertaking manufacture of modules for 5G technology infrastructure.

The company has 3 dedicated R&D facilities which are equipped with state-of-the-art research and development infrastructure – 2 of which are in India (Chennai and Gurgaon), and one is located in Stuttgart, Germany. The company currently operates through 11 strategically located manufacturing facilities across various states in India – Himachal Pradesh, Haryana, Uttar Pradesh, Tamil Nadu and Karnataka.

Its products are also sold overseas in over 24 countries, including the USA, Germany, Austria, and UK. Its marquee customers include TVS Motor, A.O. Smith India, Robert Bosch Engineering, Eureka Forbes, CyanConnode, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

Who are the Promoters of the Company?

Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon and Tancom Electronics Private Limited

Positives about the Company

• One of the leading design and electronic manufacturing services companies in terms of revenue in Fiscal 2021, driven by our focus on quality and customer relationships.
• Consistent track record of financial performance
• Diversified and continuously evolving and expanding product portfolio and service offerings catering to customers across various industries, backed by strong R&D capabilities.
• Established relationships with marquee customers across various countries
• State-of-the-art manufacturing capabilities supported by a global supplier network, with a focus on vertical integration.
• Experienced promoters supported with senior management team with proven track record of performance.

Who are its key competitors?

• Dixon Technologies Limited
• Amber Enterprises India Limited

Why is the Company going public?

Given below are the objectives of the Company –

The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

• Funding capital expenditure requirements for development of a R&D facility and expansion / setting up of manufacturing facilities
• Funding working capital requirements of the Company
• General corporate purposes

IPO Details

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