Synoptics Technologies IPO: The initial public offering (IPO) of Synoptics Technologies Limited is going to hit primary market on 30th June 2023 i.e on tomorrow. the public issue proposed for listing on NSE SME exchange will remain open for bidding till 5th July 2023. The IT services and solution company has fixed Synoptics Technologies IPO price band at ₹237 apiece level. According to market observers, Synoptics Technologies shares have made debut in unlisted stock market and it is available at a premium of ₹25 per share.
Synoptics Technologies IPO GMP today
As per the market observers, Synoptics Technologies IPO GMP today is ₹25, which means grey market is bullish on the NSE SME IPO ahead of its subscription opening date. They went on to add that the un listed stock market is bullish on the SME issue because secondary market sentiments are very high after Nifty and Sensex hitting record high on Wednesday and Nifty closing above its previous high of 18,887 mark. They said that much will depend upon the kind of response it receives from the investors. If the SME IPO manages to attract strong response, we can expect some strong upside in the public issue.
What this GMP means?
As per the market observers, Synoptics Technologies IPO GMP today is ₹25, which means grey market is expecting that Synoptics Technologies IPO listing price would be around ₹262 ( ₹237 + ₹25), which means around 10 per cent listing premium against the fixed price of ₹237 apiece.
However, stock market observers cautioned investors and suggested them to scan the balance sheet of the company as it would give concrete fundamental picture of the company.
Synoptics Technologies IPO financials
Synoptics Technologies has demonstrated consistent growth in its profitability over the years. According to the restated consolidated financial information, the company’s revenue has witnessed a significant upswing, with a growth rate of 57.25% from FY20 to FY22. Net profit has also experienced remarkable growth, increasing by 137.36% during the same period. This demonstrates the company’s ability to deliver strong financial performance and generate consistent returns for its investors.
Fundamental analysis of Synoptics Technologies reinforces its investment potential. The company’s solid business model, diverse & prestigious client base, and proven track record position it for long-term success. With a focus on digital transformation, Synoptics Technologies is well-positioned to capitalize on the growing IT services market. Furthermore, the company’s strategic initiatives, such as the recent agreement with BSNL & Airtel along with a massive orderbook of Rs.28 crores highlight its ability to secure promising business opportunities and expand its market reach in the future.
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Updated: 29 Jun 2023, 02:34 PM IST