Sathlokhar Synergys E&C Global Limited Announces IPO to Raise Rs 92.93 Crores

Sathlokhar Synergys E&C Global Limited will launch an IPO on July 30, 2024, aiming to raise Rs 92.93 Crores. The proceeds will be used for working capital, strategic initiatives, and corporate purposes. Shares will be listed on the NSE Emerge platform, with GYR Capital Advisors as the lead manager.

Sathlokhar Synergys E&C Global Limited, an integrated engineering, procurement, and construction company, is set to go public with an Initial Public Offering (IPO) on July 30, 2024. The company aims to raise Rs 92.93 Crores, with shares to be listed on the NSE Emerge platform.

The IPO will offer up to 66,38,000 equity shares at a face value of Rs 10 each, priced between Rs 133 to Rs 140 per share. The bidding for the Anchor portion opens on July 29, 2024, and the issue will close on August 01, 2024. GYR Capital Advisors Private Limited will act as the lead manager, while Purva Sharegistry (India) Private Limited will handle registrarial duties.

Proceeds from the IPO will be used to meet working capital needs, support strategic initiatives, brand building, and cover operational and general corporate expenses. "This IPO is a milestone for us," said G Thiyagu, Chairman & CEO of Sathlokhar Synergys, highlighting the company's growth in the EPC sector and its dedication to quality, safety, and sustainability.

(With inputs from agencies.)