The scrip was listed at Rs 260, a premium of 85.71% over the initial public offer (IPO) price. The stock is currently frozen in its lower limit of 5% over its listing price.
The counter hit a high of Rs 260 and a low of Rs 247. About 12.83 lakh shares of the company changed hands at the counter.
Sathlokhar Synergys E&C Global's IPO was subscribed 134.56 times. The issue opened for bidding on 30 July 2024 and it closed on 1 August 2024. The price band of the IPO was set at Rs 133 to Rs 140 per share.
The IPO comprised fresh issue of 66,38,000 shares. The company intends to utilize the net proceeds for working capital and general corporate purposes.
Ahead of the IPO, Sathlokhar Synergys E&C Global on 29 July 2024, raised Rs 25.30 crore from anchor investors. The board allotted 18.10 lakh shares at Rs 140 per share to 7 anchor investor.
Sathlokhar Synergys E&C Global is an integrated engineering, procurement and construction (EPC) (design and build) & infra turnkey contracting company providing specialized services for construction of buildings and infrastructure facilities for industrial, warehousing, commercial, institutional, pharmaceutical projects, solar projects, hospitals, hotels, resorts & villas etc. The company has total 118 employees.
The company recorded revenue from operations of Rs 246.97 crore and net profit of Rs 26.21 crore for the period as on 31 March 2024.