Sathlokhar Synergys E&C Global shares debuted impressively on the SME exchange at ₹260 per share, an 85.7% premium over the ₹140 issue price. The ₹92.93 crore IPO was open for subscription from July 30 to August 1.
The IPO saw extraordinary demand on the final day with overall subscriptions reaching 211.13 times. Non-institutional investors subscribed 382.11 times, Qualified Institutional Buyers 171.55 times, and Retail Investors 160.47 times.
Sathlokhar Synergys E&C Global Limited, an integrated EPC and infra-turnkey contractor, offers specialized services for various construction, MEP, and solar power projects across India. ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, they independently bid on government-funded projects, efficiently managing the entire value chain to mitigate risks and create maximum value.
Sathlokhar Synergys E&C Global Limited IPO aims to use the IPO funds to expand its production capacity, enhance operational efficiencies, and possibly reduce existing debt.