A total public issue of Rs. 10 per share of face value Rs. Includes 22.80 lakh equity shares of 237; The listing will take place on the SME Emerge platform of NSE
Mumbai, leading IT services and infrastructure solutions provider Synoptics Technologies Limited through its SME Public Issue of Rs. 54.03 crore is planning to raise which will open for subscription on June 30. The proceeds of a company public issue are used for certain loan repayments,
Plans to fund working capital requirements, invest in strategic acquisitions/joint ventures and for general corporate purposes. After the IPO, the shares of the company will be listed on the SME Emerge platform of the National Stock Exchange. First Overseas Capital Limited is the lead manager of the issue. The public issue will close on July 5.
Rs. Fresh issue of up to 14.80 lakh equity shares in IPO of up to 22,80,000 equity shares of face value of Rs.10 and Rs. 237 per share (including a premium of Rs. 227 per equity share) and includes an offer for sale of up to 8 lakh equity shares. From the company public issue Rs. Plans to raise up to 54.03 crores.
The minimum lot size for application is 600 shares with a value per application of Rs. 1.42 lakhs. A maximum of 50% of the share issue offered to retail investors as part of the IPO is held. The market maker reservation portion is 1,14,000 equity shares.
Established in 2008, Synoptics Technologies Limited provides IT services and solutions. The company provides solutions in the areas of IT infrastructure such as connectivity to branches, supply, implementation and support of network equipment required to run IT setups such as routers, switches etc. The company has recently signed an agreement with BSNL to be their authorized Private LTE/ Private 5G service partner across the country.
Synoptics Technologies Limited is headquartered in Mumbai and operates across India with a network of regional offices at 17 locations and a workforce of over 550 people. Clients of the company include Tata Communications Limited, BOB Financial Services, Blue Dart Express Limited, Shoppers Stop Limited, GIC Housing Finance Limited, Motilal Oswal Financial Services Limited, Government of Gujarat etc.
For the financial year 2021-22, the company has a total of Rs. 50.97 crore in revenue and Rs. 4.32 crores in net profit was reported. For the nine months ended December 2022, the company reported a total of Rs. 34.46 crores in revenue and Rs. 5.25 crore net profit was earned. By December 2022, the company’s net worth will be Rs. 24.02 crore, total assets of Rs. 53.80 crore and reserve and surplus Rs. 17.02 crores. Promoter group shareholding pre-issue is 100% which will be 73.11% post issue.