While Norges Bank on account of Government Pension Fund Global has bought 38 lakh shares or 2.14% stake in the company, US-based Neuberger Berman has picked up 25 lakh shares or 1.4%, BSE block deals data showed.
Domestic fund house Union Mutual Fund has also bought 0.29% stake in the company, while South Asia Growth Fund Holdings sold about 3.01% stake through block deals.
Sanjiv Narayan, who is among the biggest shareholders in the company with 7.11% equity, has also offloaded part 0.84% stake through the block deal transaction.
Syrma SGS is an efficient electronic system design and manufacturing solutions. The company provides high-mix, flexible volume, precision OEM manufacturing.
Syrma SGS also offers OEM solutions for RFID tags and inlays and high-frequency magnetic components. The company serves global OEMs in 20-plus countries.
The company is majority public owned with 52.73% stake, while the rest 46.27% lies with the promoters. Among the public shareholders, mutual funds have about 5.81% stake, while foreign investors own 4.61%.Syrma SGS hit the capital markets in August last year with Rs 840 crore IPO, which received tremendous response from investors. The company’s shares at issue which were sold in the range of Rs 209-220, were subscribed by an overwhelming 32 times.
Since the listing, the shares have risen 16%. On Tuesday, the stock closed 2.12% higher at Rs 362 apiece on NSE. So far this year, the shares were up about 30%.
For the fiscal year ending March 2023, the company reported a consolidated total revenue of Rs 2,092 crore, up 63% year-on-year, primarily driven by automotive, consumer and industrial segments.
EBITDA for the year rose 61% YoY to Rs 2315 crore, with EBITDA margins at 11.1%.
