3C IT Solutions IPO to Open June 4 with ₹52 Per Share Price Band; SME IPO Aiming for ₹11.44 Crore
3C IT Solutions & Telecoms (India) Ltd, a company specializing in IT systems integration, is launching its initial public offering (IPO) on June 4, aiming to raise ₹11.44 crore. The IPO, targeting small and medium enterprises (SMEs), will close on June 7.
Company Overview and IPO Details
3C IT Solutions offers services in three main areas: Infrastructure solutions, Digital business solutions, and Consulting solutions. The IPO price is set at ₹52 per share, with a lot size of 2,000 shares, meaning retail investors need a minimum of ₹104,000 to participate.
The IPO comprises a fresh issue of 17 lakh equity shares worth ₹8.84 crore and an offer-for-sale (OFS) of 5 lakh shares worth ₹2.60 crore. M/s. Gold Circle Venture Partners LLP is the selling shareholder in the OFS.
Use of Proceeds and Important Dates
The funds raised will be used for working capital, repaying or prepaying certain borrowings, and general corporate purposes. Key dates include:
- IPO closes: June 7
- Allotment finalization: June 10
- Credit of shares to investors’ demat accounts: June 11
- Refund initiation for unsuccessful bidders: June 11
- Listing date: June 12
The company’s shares will be listed on the BSE SME platform. Kreo Capital Pvt Ltd is the lead manager for the IPO, and Skyline Financial Services Pvt Ltd is the registrar.
Promoters and Financial Performance
The promoters, Ranjit Kulladhaja Mayengbam and Gangarani Devi Mayengbam, will see their shareholding decrease from 72% to 51.66% post-IPO.
For the nine months ending December 2023, the company reported a net profit of ₹50.52 lakh on revenue of ₹23.55 crore. In FY23, net profit was ₹1.13 crore, slightly up from ₹1.10 crore in FY22, while revenue decreased to ₹62.93 crore from ₹66.94 crore in FY22.
Grey Market Premium (GMP)
As of today, the GMP for 3C IT Solutions IPO is ₹0, indicating no trading activity in the grey market yet.
This IPO represents a significant opportunity for 3C IT Solutions to enhance its capital and strengthen its market position.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
