SA Tech Software India IPO: The initial public offering (IPO) of SA Tech Software India Limited, which opened for public subscription on July 26, has received a fair response from investors so far. By 2.02 pm on the second day of bidding on Monday, the Rs 230.1 crore SME IPO was oversubscribed 58.63 times against the offer of 25,34,000 shares, attracting bids for 14,85,60,000 shares.
According to the latest data, the retail quota was oversubscribed 92.47 times, the non-institutional quota was oversubscribed 47.53 times and the qualified institutional buyer (QIB) quota was oversubscribed 7.79 times.
SA Tech Software India Ltd is an IT consulting subsidiary of SA Technologies Inc, a US-based foreign company.
SA Tech Software India’s IPO closes on July 30. The IPO was subscribed 15.37 times on the first day of bidding (July 26).
The allotment of shares is expected to be completed on July 31st and the listing will take place on the NSE SME on August 2nd.
The price band for the IPO has been fixed at Rs 56 to Rs 59 per share.
SA Tech Software India IPO GMP Today
According to market observers, SA Tech Software India Ltd’s unlisted shares are trading at Rs 75 higher in the grey market compared to the issue price. A grey market premium (GMP) of Rs 75 means that the grey market is expecting listing gains from the public offering to be 127.12 per cent. GMP is based on market sentiment and is constantly changing.
A “gray market premium” indicates that investors are willing to pay more than the issue price.
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SA Tech Software India IPO: Details
SA Tech Software India’s IPO is a fresh issue of 3.9 million shares.
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Investors will have to apply for a minimum of 2,000 shares and in multiples of that amount, thus making the minimum investment by an individual investor Rs 1,18,000. [2,000 (lot size) x Rs 59 (upper price band)].
The proceeds from the IPO will be used for the following purposes: 1) prepayment or repayment, in whole or in part, of certain outstanding borrowings held by the Company;
2) To meet the working capital requirements of the company.
3) General corporate purposes.
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SA Tech Software India Ltd’s revenue grew 27.59% in FY2023-24, while its profit after tax (PAT) grew 266.7%.
Founded in 2012, SA Tech Software India is an IT consulting subsidiary of US-based foreign owned company SA Technologies Inc. It offers Application Development, Mobile App Development, Cloud Infrastructure, Software Quality Assurance, Generative AI, Machine Learning, IoT Solutions, Data Science and Analytics.
Investors will have to apply for a minimum of 2,000 shares and in multiples of that amount, thus making the minimum investment by an individual investor Rs 1,18,000. [2,000 (lot size) x Rs 59 (upper price band)].
The proceeds from the IPO will be used for the following purposes: 1) prepayment or repayment, in whole or in part, of certain outstanding borrowings held by the Company;
2) To meet the working capital requirements of the company.
3) General corporate purposes.
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SA Tech Software India Ltd’s revenue grew 27.59% in FY2023-24, while its profit after tax (PAT) grew 266.7%.
Founded in 2012, SA Tech Software India is an IT consulting subsidiary of US foreign owned company SA Technologies Inc. It offers Application Development, Mobile App Development, Cloud Infrastructure, Software Quality Assurance, Generative AI, Machine Learning, IoT Solutions, Data Science and Analytics.
Mohammed Harris
Harris is the Deputy News Editor (Business) at news18.com. He writes on a variety of issues.
First published: 29 July 2024 11:16 IST
