Syrma SGS Technology Looks to Add SMT Lines
Published: 21 March 2023
by Tyler Hanes
CHENNAI, INDIA – Indian PCBA manufacturer Syrma SGS Technology is looking to double its SMT lines by using the proceeds of its IPO.
The company listed in August 2022 after an IPO through which it raised Rs 840 crore ($101.6 million). Of these proceeds, 70% or Rs 550 crore ($66.5 million) will be used for expanding capacity. The company currently has 21 Surface Mount Technology lines, which it plans to double by the end of financial year 2024.
Syrmarecently commissioned facilities in Manesar and Chennai and it plans on setting up a unit in Hyderabad. The company currently has 13 facilities in place and expects the new facilities to have 80-85% capacity utilization in the near future.
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