Synoptics Technologies Limited IPO - Details, Date, Price, GMP

Synoptics Technologies Limited is a leading provider of engineering solutions and services in India. The company offers a wide range of services, including product design, development, and manufacturing; software development; and testing and validation. Synoptics Technologies has a strong track record of growth and profitability, and it is well-positioned to benefit from the growing demand for engineering solutions in India.

The company's IPO is offering a total of 2,280,000 equity shares at a price of ₹237 per share. The IPO is open for subscription from June 30, 2023 to July 5, 2023. The proceeds from the IPO will be used to fund the company's growth initiatives, including the expansion of its product development and manufacturing capabilities, and the development of new software products.

The IPO has been well-received by investors, with the GMP (grey market premium) for the shares reaching ₹250 per share. This suggests that the shares are likely to be in high demand when the IPO opens for subscription.

Synoptics Technologies has a strong track record of growth and profitability. In the financial year 2022-23, the company reported revenue of ₹330 crore and net profit of ₹42 crore.

Industry Outlook

The engineering solutions and services industry is growing rapidly in India. The growth is being driven by a number of factors, including:

• The increasing demand for engineering solutions from the manufacturing sector

• The growing need for software development services

• The increasing focus on quality and reliability in engineering products

Synoptics Technologies is well-positioned to benefit from the growth of the engineering solutions and services industry. The company has a strong track record of innovation and customer satisfaction. It also has a wide network of partners and customers, which gives it access to a large and growing market.

Here is a more detailed review of the Synoptics Technologies Limited IPO.