Synoptics Technologies IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Synoptics Technologies IPO will open on June 30 and close on July 5, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 54.03 crores through this public offering, consisting of 22.80 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 237 per share.
Synoptics Technologies Limited (“the Company”)
Synoptics Technologies Limited was incorporated in 2008. It is an IT Services company offering solutions in the areas of IT Infrastructure like connectivity to the Branches, Supply, implementation, and support of the network equipment needed to run the IT setup, like routers, switches, etc.
They design the solution for customers who need to put their applications on the cloud. The company will help with the application migration and manage the setup in the cloud. IT Security solutions like firewall installation and management Data centre design and solution with newer technology to optimise the investment, use less space and power, and have clearly defined outcomes Synoptics helps enterprises, small businesses, and governments in their Digital journey with various use cases in specific industry verticals with our technology-led and innovation-driven approach. The company is currently operating across India with a team of around 600 employees.
Synoptics Technologies Limited has recently signed an agreement with BSNL to become their authorised Private LTE and Private 5G service partner nationwide. This would establish us in upcoming private LTE and Private 5G opportunities.
The company is headquartered in Mumbai and has regional offices in 16 locations throughout India.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Repayment of certain Borrowings,
- Funding additional Working capital requirements,
- Investment in Strategic acquisitions or Joint ventures, and
- General Corporate Purposes.
Financial Highlights (Restated)
| Particulars | The period ended on 31st Dec. 22 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 2,402 | 1,877 | 1,445 | 1,208 |
| Total Assets | 5,380 | 4,280 | 3,760 | 3,326 |
| Reserve & Surplus | 1,702 | 1,177 | 744 | 508 |
| Total Borrowings | 1,959 | 1,410 | 1,195 | 1,290 |
| Total Revenue | 3,447 | 5,097 | 3,480 | 2,211 |
| Profit After Tax | 525 | 432 | 236 | 182 |
IPO details
As per the DRHP filed with SEBI, 14.80 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 114,000 shares of the offering. While First Overseas Capital Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 237 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 600 shares |
| Issue Size | 2,280,000 shares (aggregating up to ₹ 54.03 crores) |
| Fresh Issue | 1,480,000 shares (aggregating up to ₹ 35.08 crores) |
| Offer for Sale | 800,000 shares (aggregating up to ₹ 18.96 crores) |
| Listing At | NSE SME |
| Company Promoters | Mr Jagmohan Manilal Shah, Mr Jatin Jagmohan Shah, and Mrs. Janvi Jatin Shah |
Market Maker detail
| Market maker | NNM Securities |
| Market maker portion | 114,000 shares |
IPO Reservation
| Categories | No. of shares offered |
| Retail shares offered | Not less than 50% of the offer |
GMP: Synoptics Technologies IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Synoptics Technologies IPO
The issue opens for subscription on June 30, 2023, and closes for subscription on July 5, 2023 (both days inclusive). The basis of allotment will be finalised on July 10, 2023, and the refunds will be initiated on July 11, 2023. In addition, the demat credits are expected to happen on July 12, 2023, and the stock will be listed on the NSE SME on July 13, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | June 30, 2023, |
| Closing Date | July 5, 2023 |
| Basis of Allotment | July 10, 2023 |
| Initiation of Refunds | July 11, 2023 |
| A credit of shares to Demat A/c | July 12, 2023 |
| Listing Date | July 13, 2023 |
Lot Size
The lot size of the Synoptics Technologies IPO is 600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 600 shares of ₹ 142,200.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 600 | ₹ 142,200 |
| Retail (Maximum) | 1 | 600 | ₹ 142,200 |
| HNI (Minimum) | 2 | 1,200 | ₹ 284,400 |
Promoters Holdings
| Pre-issue Shares Holdings | 100.00% |
| Post-issue Shares Holdings | 73.11% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Synoptics Technologies Limited 301, A-Wing, 3rd Floor, Interface 16, Mindspace, Malad (West), Mumbai – 400064 Phone: +91 22 4505 0000 Email: cs@synoptics.co.in Website: https://synoptics.co.in/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | First Overseas Capital Limited |
FAQs
What is Synoptics Technologies’ IPO price?
The Synoptics Technologies IPO price is ₹ 237 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Synoptics Technologies IPO contains 600 shares of ₹ 142,200.
When will the Synoptics Technologies IPO allotment be available?
The finalisation of the basis of allotment for the Synoptics Technologies IPO will be done on July 10, 2023, and the allotted shares will be credited to your demat account by July 12, 2023. Check the Synoptics Technologies IPO allotment status.
When will the Synoptics Technologies IPO list on exchanges?
The Synoptics Technologies IPO shares listing date is July 13, 2023.
