Syrma Johari Medtech Chairman Satyendra Johari Passes Away at 77
Satyendra Johari, Chairman and Managing Director of Syrma Johari Medtech Limited, a subsidiary of Syrma SGS Technology Limited, passed away on August 8, 2025, at the age of 77. The Board of Syrma Johari Medtech Limited will take steps to ensure operational continuity. Meanwhile, the parent company, Syrma SGS Technology Limited, recently completed a successful QIP, raising approximately ₹10,000.00 million by issuing 14,306,151 equity shares at ₹699.00 per share. The QIP saw significant participation from various institutional investors, with several entities being allotted more than 5% of the offered equity shares.
*this image is generated using AI for illustrative purposes only.
Syrma SGS Technology Limited's subsidiary, Syrma Johari Medtech Limited, announced the passing of its Chairman and Managing Director, Satyendra Johari, on August 8, 2025. Johari, aged 77 at the time of his death, was the founder of the subsidiary company, formerly known as Johari Digital Healthcare Limited.
Company Background
Syrma Johari Medtech Limited operates under the umbrella of Syrma SGS Technology Limited, which trades on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) under the symbols 543573 and SYRMA, respectively.
Leadership Transition
Following Johari's passing, the Board of Syrma Johari Medtech Limited has stated that it will take necessary steps to ensure the continuity of operations.
Recent Financial Activities of Parent Company
While not directly related to Syrma Johari Medtech Limited, it's worth noting that Syrma SGS Technology Limited has recently completed a substantial qualified institutions placement (QIP) of equity shares. According to the latest LODR data:
- The company issued 14,306,151 equity shares at ₹699.00 per share.
- The total amount raised through this issue was approximately ₹10,000.00 million.
- The issue price represented a discount of 4.98% to the floor price of ₹735.61 per share.
- Following this allotment, the paid-up equity share capital of Syrma SGS Technology Limited increased from ₹17,815.80 million to ₹19,246.41 million.
Investor Interest
The QIP saw participation from various institutional investors, with several entities being allotted more than 5% of the offered equity shares:
| Investor | Allocation |
|---|---|
| HDFC Life Insurance Company Limited | 20.00% |
| Tata AIA Life Insurance Company Limited (across multiple funds) | 17.50% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund | 15.00% |
| HDFC Mutual Fund - HDFC Manufacturing Fund | 7.50% |
| Bandhan Mutual Fund (across multiple funds) | 7.50% |
| Prudential Hong Kong Limited | 5.08% |
| ICICI Prudential Life Insurance Company Limited | 5.00% |
| Aditya Birla Sun Life Insurance Company Limited | 5.00% |
| Motilal Oswal Small Cap Fund | 5.00% |
This successful capital raise by the parent company demonstrates strong investor confidence in the Syrma group of companies, which may provide a stable foundation for Syrma Johari Medtech Limited as it navigates this period of leadership transition.
As the medtech subsidiary moves forward without its founder at the helm, the industry will be watching closely to see how the company maintains its operations and strategic direction in the coming months.
Historical Stock Returns for Syrma SGS
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.37% | -2.50% | +1.64% | +56.87% | +70.54% | +123.08% |
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