Synergy Green IPO – Review, Allotment, Subscription, GMP Price, Date & more

Synergy Green IPO consists of 37,80,000 Equity shares of Rs.10 each for cash at a issue price of Rs.70 each aggregating to Rs.2646 lakhs. Synergy Green is one of the leading company involved in the manufacturing of castings, industrial castings, turbine castings, metal castings, steel castings and Windmill Parts. 

Let’s have a detailed review of the company and analytics of the Synergy Green IPO release date, IPO offer price, subscription, Synergy Green IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Synergy Green IPO Review & Ratings

Synergy Green IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 6.2/10
Promoters Reputation 6.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.3/10
Overall Ratings  6.3/10
Star Ratings ★★★☆☆

Summary of Synergy Green IPO

Synergy Green IPOSynergy Green Industries consists of three segments namely Wind Turbine, Wind Gear Box and General Engineering (Non-Wind Segment) like Mining equipment, Pump and Valve Industry Plastic Injection machines, traction motors and small casting. Synergy Green Industries aims to be within the best companies in the world in its line of business and is accordingly continuously investing in state of art facility conducive to realize this aim. Synergy Green with its team is committed to offer the most varied range and latest technology in each of its products.

To achieve the above stated aim, Company is continuously investing in development of new products & technologies, either on its own or through collaboration with suitable technology partner. This has enabled Company to become an industry leader within India in most of the products manufactured by Them and also ensured acceptance of their products worldwide.

The Issue comprises of a Public Issue of 37,80,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price of Rs.70.00 (including a premium of Rs.60.00 per Equity Share) aggregating to Rs.2646 lakhs

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements:

For the period ended December 31, 2017, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.6,619.99, Rs.12,049.82 and Rs.8,225.34, respectively and  for the period ended December 31, 2017, FY 2016-17 and FY 2015-16 net profit  of the company was Rs.214.81, Rs.485.96 and Rs.55.21 respectively.

The Promoter of this company are Mr. Sachin Rajendra Shirgaokar, Mr. Sohan Sanjeev Shirgaokar, Mr. Vendavagali Srinivasa Reddy and S. B. Reshellers Private Limited. The lead manager to the issue is SWASTIKA INVESTMART LIMITED  and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.


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Synergy Green IPO Date

The opening and the closing date of Synergy Green IPO is from 4 Sept to 7 Sept 2018.


Synergy Green IPO Subscription

  Subscription
Day 1 – 4th Sept 0.07X
Day 2 – 5th Sept 0.15X
Day 3 – 6th Sept 0.18X
Day 4  X
Day 5  X

The Net Shares Offered to the public is 3,588,000.


Synergy Green IPO Allotment Status

The allotment status can be checked here.


Synergy Green IPO Price Band

The face value of each share is Rs 10 at a cash price of Rs.70.


Synergy Green IPO Equity Share Offering

37,80,000 Equity Shares of Rs 10/- each at an Issue Price of Rs.70 so it will be aggregated to Rs.2646 lakhs


Synergy Green Limited – Company Overview

Synergy Green Industries is an ISO 9001:2015 certified for Manufacture of Graded Grey Iron, Spheroidal Graphite Iron and Steel Casting and Machined Components for Non-Automotive and Industrial Applications. Synergy Green is capable to handle the castings ranging from 500 Kg to 17 MT single piece in ductile iron and grey iron.  Plant is equipped with MAGMA simulation software, Furan no bake moulding plant, Induction melting furnace and entire range of testing equipment’s to meet stringent quality specifications.

Synergy Green consists of three segments namely Wind Turbine, Wind Gear Box and General Engineering (Non-Wind Segment) like Mining equipment, Pump and Valve Industry Plastic Injection machines, traction motors and small casting. 

Promoters is having experience of more than decades and their hard work and continuous innovation of products, today they have become one of the renowned as largest automated fast loop moulding line for large castings.

Competitive Strengths of Synergy Green Limited:

  • Quality Assurance and Standards.
  • Proficient Management Team with State of the art infrastructure.
  • Diversified Client Base.
  • Neutral Foundry Model.
  • Cost Effective sourcing and Strategic Location of Manufacturing Unit.

Business strategies of Synergy Green Limited:

  • To operate excellence through latest technology and innovation.
  • Continue to invest significantly in R&D.
  • To build-up a professional organization.
  • Optimal Utilization of Resources.
  • Leveraging their Market skills and Relationships.

Synergy Green Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Dec-17 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 10,726.23 9,178.72 8,253.32 6,885.80 6,514.79 5,959.28
Total Revenue 6,640.60 12,067.19 8,259.66 6,384.93 3,723.83 954.44
Total Expense 6,550.45 11,659.01 8,154.27 7,153.23 4,652.29 2,030.98
Profit After Tax 214.81 485.96 155.21 (685.06) (901.51) (905.28)

Earnings per Equity Share (in Lakhs)

31-Dec-17 31-Mar-17 31-Mar-16
Basic  and Diluted 3.87 9.72 3.10

From the above statements, one could find that the Synergy Green Limited may perform well.


Synergy Green IPO – Promoters

The Promoter of this company are:

  1. Mr. Sachin Rajendra Shirgaokar
  2. Mr. Sohan Sanjeev Shirgaokar
  3. Mr. Vendavagali Srinivasa Reddy
  4. S. B. Reshellers Private Limited.

List of Related Parties (Key Managerial Personnel)

  • Mr. Sachin Rajendra Shirgaokar
  • Mr. Sohan Sanjeev Shirgaokar
  • Mr. Vendavagali Srinivasa Reddy
  • Mr. Nilesh Mohan Mankar
  • Mr. Suhas Bhalachandra Kulkarni

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Synergy Green IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 1500000 Equity Shares of Rs 10/- each at an Issue Price (yet to be disclosed).
 Of which:
 Reserved for Market Makers 78000 Equity Shares of Rs 10/- each
 Net Issue to the Public 1422000 Equity Shares of Rs 10/- each 
 Of which:
 Retail Investors Portion 711000 Equity Shares of Rs 10/- each 
 Non-Retail Investors Portion 711000 Equity Shares of Rs 10/- each 
 Equity Shares outstanding prior to the Issue 3037500 Equity Shares of Rs 10/- each
 Equity Shares outstanding after the Issue 4537500 Equity Shares of Rs 10/- each

Synergy Green IPO Issue Object

These are the IPO Issue Objects of the company

  • Purchase of Plant and Machinery
  •  To Meet Working Capital Requirement
  •  General Corporate Purpose
  • To Meet the Issue Expenses

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Synergy Green IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Quality Assurance and Standards
  • Proficient Management Team with State of the art infrastructure
  • Diversified Client Base
  • Neutral Foundry Model
  • Cost Effective sourcing
  • Strategic Location of Manufacturing Unit

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-15
31-Mar-16 3.10
31-Mar-17 9.72
31-Dec-17 33.30 11.61
  • Industry P/E Ratio:
Particulars P/E ratio
Average 42
Highest 112.70
Lowest 11.60

 


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Synergy Green IPO Lead Managers

Lead Managers
SWASTIKA INVESTMART LIMITED
305, Madhuban Building, Cochin Street,
S.B.S. Road, Fort, Mumbai, Maharashtra – 400 001.
Tel No.:+91–22–2265 5565
Fax No.:+91–22–664 4300
Email:
Investor Grievance Email:
Website: www.swastika.co.in
Contact Person: Mr. Mohit R. Goyal
SEBI Regn. No.: INM000012102

Synergy Green IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C 101, 1st Floor, 247 Park, LBS Marg,
Vikhroli (West), Mumbai,
Maharashtra, India – 400083.
Telephone: + 91 22 49186200;
Facsimile: +91 22 49186195
Email:
Investor Grievance Email:
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor – M/S. P.G. BHAGWAT & Co. CHARTERED ACCOUNTANTS.
  • Peer Review Auditor -M/S MISTRY AND SHAH, CHARTERED ACCOUNTANTS. 
  • Legal Advisor-M. V. KINI

Synergy Green IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Synergy Green IPO Grey Market Premium

The Synergy Green IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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Synergy Green IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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