PNN
Mumbai (Maharashtra) [India], July 26: Sathlokhar Synergys E&C Global Limited has emerged as integrated EPC company offering comprehensive design and build services across sectors, has announced its plan to go public with an Initial Public Offering (IPO) on July 30, 2024, aiming to raise Rs 92.93 Crores, with shares to be listed on the NSE Emerge platform.
The issue size is Up To 66,38,000 equity shares at a face value of Rs 10 each.
* Total Issue Size - Up To 66,38,000 Equity Shares of Rs 10 each
* Issue Size - Rs 92.93 Crores (At Upper Band)
* Price Band - Rs 133 to Rs 140 Per Share
* Lot Size - 1,000 Equity Shares
Equity Share Allocation
* QIB Anchor Portion - Up to 18,10,000 Equity Shares
* Qualified Institutional Buyers (QIB) - Up to 12,08,000 Equity Shares
* Non-Institutional Investors (NII) - Not less than 9,06,000 Equity Shares
* Retail Individual Investors (RII) - Not less than 21,14,000 Equity Shares
* Market Maker - Up to 6,00,000 Equity Shares
The net proceeds from the Issue are set to be utilized primarily to meet Working Capital Requirement of the company, strategic initiatives, brand building, operational expenses and General Corporate Purposes. The bidding for the Anchor portion will open on July 29, 2024, the issue will open for subscription on July 30, 2024 and closes on August 01, 2024.
The Book Running Lead Manager to the Issue is GYR Capital Advisors Private Limited, The Registrar to the Issue is Purva Sharegistry (India) Private Limited.
G Thiyagu Chairman Managing Director & CEO of Sathlokhar Synergys E&C Global Limited expressed, "As we launch our Initial Public Offering (IPO), we are filled with pride and gratitude. This milestone reflects the dedication of our entire team at Sathlokhar Synergys E&C Global Limited. Since inception, we have grown into a dynamic player in the engineering, procurement, and construction sector. Our strategic transformations and commitment to excellence have enabled us to deliver innovative solutions across various sectors.
Our IPO will provide the capital needed for further growth and expansion, allowing us to enhance our services, invest in new technologies, and expand our footprint. We are committed to quality, safety, and sustainability, and our partnerships, like with TATA Power Solar Systems Ltd., highlight our dedication to a greener future."
Mohit Baid, Director of GYR Capital Advisors Private Limited said, "With great enthusiasm, we announce the Initial Public Offering (IPO) of Sathlokhar Synergys, designed to meet the company's immediate working capital needs and propel its ambitious vision for growth. They have consistently demonstrated strong performance in the engineering, procurement, and construction sector. The capital raised through this IPO will enhance their operational capabilities and support the expansion of their service portfolio to meet growing market demands.
This IPO represents a compelling investment opportunity, poised to bolster the company's financial stability and foster long-term value creation."
About Sathlokhar Synergys E&C Global Limited:
Sathlokhar Synergys E&C Global Limited is an integrated Engineering, Procurement, and Infra Turnkey Construction (EPC) company, renowned for its comprehensive design and build services across various sectors, including industrial, commercial, institutional, pharmaceutical, solar, healthcare, and hospitality. Operating in Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal & Pondicherry the company manages projects from detailed design and planning through to procurement, engineering, execution, and commissioning. Sathlokhar provides specialized services in Mechanical, Electrical, Plumbing (MEP) installations, HVAC and Utilities through its in-house team of professionals.
As an authorized channel partner for TATA Power Solar Systems Ltd., Sathlokhar offers installation, sales, commissioning, and maintenance for solar power projects. It independently participates in government tenders, leveraging in-house capabilities to ensure faster turnaround times and effective risk management. The company's core strengths lie in managing the entire project lifecycle and attracting and retaining top talent to maximize value creation.
In FY24, The Company achieved a Revenue of Rs 24,697.37 Lakhs, EBITDA of Rs 3,572.45 Lakhs, & PAT of Rs 2,621.43 Lakhs.
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