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Synoptics Technologies IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Repayment of certain Borrowings,
  2. Funding additional Working capital requirements,
  3. Investment in Strategic acquisitions or Joint ventures, and
  4. General Corporate Purposes.

Financial Highlights (Restated)

ParticularsThe period ended on 31st Dec. 22FY 2021-22FY 2020-21FY 2019-20
Net Worth2,4021,8771,4451,208
Total Assets5,3804,2803,7603,326
Reserve & Surplus1,7021,177744508
Total Borrowings1,9591,4101,1951,290
Total Revenue3,4475,0973,4802,211
Profit After Tax525432236182
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 237 per share
Face Value₹ 10 per share
Market Lot600 shares
Issue Size2,280,000 shares (aggregating up to ₹ 54.03 crores)
Fresh Issue1,480,000 shares (aggregating up to ₹ 35.08 crores)
Offer for Sale800,000 shares (aggregating up to ₹ 18.96 crores)
Listing AtNSE SME
Company PromotersMr Jagmohan Manilal Shah, Mr Jatin Jagmohan Shah, and Mrs. Janvi Jatin Shah

Market Maker detail

Market makerNNM Securities
Market maker portion114,000 shares

IPO Reservation

CategoriesNo. of shares offered
Retail shares offeredNot 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 DateJune 30, 2023,
Closing DateJuly 5, 2023
Basis of AllotmentJuly 10, 2023
Initiation of RefundsJuly 11, 2023
A credit of shares to Demat A/cJuly 12, 2023
Listing DateJuly 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.

ApplicationsLotsSharesAmount
Retail (Minimum)1600₹ 142,200
Retail (Maximum)1600₹ 142,200
HNI (Minimum)21,200₹ 284,400

Promoters Holdings 

Pre-issue Shares Holdings100.00%
Post-issue Shares Holdings73.11%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationSynoptics Technologies Limited
301, A-Wing, 3rd Floor, Interface 16, Mindspace, Malad (West), Mumbai – 400064
Phone: +91 22 4505 0000
Email: [email protected]
Website: https://synoptics.co.in/
IPO RegistrarBigshare Services Pvt Ltd
Phone
: +91-22-6263 8200
Email: [email protected]
Website: https://www.bigshareonline.com/
IPO Lead Manager(s)First Overseas Capital Limited

FAQs

The Synoptics Technologies IPO price is ₹ 237 per share.

The minimum investment size is one lot for retail investors. One lot of the Synoptics Technologies IPO contains 600 shares of ₹ 142,200.

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.

The Synoptics Technologies IPO shares listing date is July 13, 2023.

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