S A Tech Software India Ltd, a part of the foreign company SA Technologies Inc, is launching its IPO this week. The IPO will be open for subscription from Friday, July 26, to Tuesday, July 30. The allotment is expected to be finalized on July 31, with the listing scheduled for August 2.
Price Band
The price band for the IPO is set between ₹56 and ₹59 per share. Investors need to buy a minimum of 2,000 shares, costing at least ₹118,000.
The company aims to raise ₹23.01 crore through this IPO, which will be used to pay off some of its debts, fund working capital, and cover general expenses.
IPO
S A Tech Software India IPO is listed on the NSE SME platform. GYR Capital Advisors Private Limited is the lead manager, and Bigshare Services Pvt Ltd is the registrar.
S A Tech Software India provides various IT services, including application development, mobile app development, cloud infrastructure, and software quality assurance.
For the quarter ending June 2024, the company reported a net profit of ₹2.48 crore and revenue of ₹23.97 crore. For FY24, it reported a net profit of ₹3.68 crore on revenue of ₹72.38 crore.
The shares of S A Tech Software India are currently trading at a premium in the grey market. The grey market premium (GMP) is ₹59 per share, meaning the shares are trading at ₹118 each, double the IPO price.
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