Synoptics Technologies IPO

Synoptics Technologies IPO: Synoptics Technologies has announced the details of its upcoming IPO (Initial Public Offering) as follows: The IPO will commence on June 30 and conclude on July 5. Synoptics Technologies will be conducting the IPO on the NSE SME platform, with the objective of raising ₹35.07 crores. The IPO price band for Synoptics Technologies has been set at ₹237 per share, and the market lot size is 600 shares.

Synoptics Technologies IPO Dates

The Initial Public Offering (IPO) for Synoptics Technologies is scheduled with the following details: The IPO will open on June 30, 2023, and close on July 5, 2023. The Basis of Allotment for the IPO will be finalized on Monday, July 10, 2023, and the allotted shares will be credited to investors’ demat accounts by Wednesday, July 12, 2023. The listing date for the Synoptics Technologies IPO is set for Thursday, July 13, 2023

Synoptics Technologies IPO Details

IPO DateJun 30, 2023 to Jul 5, 2023
Face Value₹10 per share
Price₹237 per share
Lot Size600 Shares
Total Issue Size2,280,000 shares
(aggregating up to ₹54.03 Cr)
Fresh Issue1,480,000 shares
(aggregating up to ₹35.08 Cr)
Offer for Sale800,000 shares of ₹10
(aggregating up to ₹18.96 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
Share holding pre issue7,000,000
Share holding post issue8,480,000
Market Maker portion114,000 shares
Nnm Securities

Important Dates of Synoptics Technologies IPO

Synoptics Technologies IPO opens on Jun 30, 2023, and closes on Jul 5, 2023.

EventTentative Date
Opening DateFriday, 30 June 2023
Closing DateWednesday, 5 July 2023
Basis of AllotmentMonday, 10 July 2023
Initiation of RefundsTuesday, 11 July 2023
Credit of Shares to DematWednesday, 12 July 2023
Listing DateThursday, 13 July 2023

Synoptics Technologies IPO Lot Size

The Synoptics Technologies IPO lot size is 600 shares.

Retail (Min)1600₹142,200
Retail (Max)1600₹142,200
HNI (Min)21,200₹284,400

Objects of the Synoptics Technologies IPO

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  • Repayment of certain Borrowings,
  • Funding additional Working capital requirements,
  • Investment in Strategic Acquisition / Joint Venture, and
  • General Corporate Purposes.

About Synoptics Technologies IPO

Established in 2008, Synoptics Technologies Limited is a leading provider of IT services and solutions.

The company specializes in offering comprehensive IT infrastructure solutions, including branch connectivity, supply and implementation of network equipment such as routers and switches, and ongoing support for efficient IT operations.

Synoptics Technologies excels in designing and implementing cloud solutions, catering to customers’ needs for application hosting, migration, and cloud management. It also provides robust IT security solutions, including firewall installation and management. Additionally, the company offers data center design and optimization services, leveraging cutting-edge technology to maximize efficiency and minimize space and power requirements while delivering clearly defined outcomes.

Synoptics Technologies assists enterprises, small businesses, and government entities in their digital transformation journeys, offering industry-specific solutions across various sectors. Its esteemed B2B client portfolio includes renowned organizations such as TATA Communications Limited, BOB Financial Services, Blue Dart Express Limited, Lifestyle International Private Limited, Shoppers Stop Limited, Hennes & Mauritz Retail Private Limited (H&M), Fedbank Financial Services Limited, GIC Housing Finance Ltd, Motilal Oswal Financial Services Limited, and the Government of Gujarat, among others.

Notably, the company has recently forged a partnership with BSNL to become their authorized nationwide Private LTE/5G service partner.

With a workforce of 584 employees, Synoptics Technologies operates throughout India. The company’s headquarters are located in Mumbai, and it maintains regional offices in 17 locations across the country, including Andhra Pradesh, Bihar, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Telangana, Tamil Nadu, Uttar Pradesh, Uttarakhand, and West Bengal.