S A Tech Software India IPO Day 1: Overwhelming Demand, Subscribed 6.4 Times Already! Check Latest GMP and Key Details

The initial public offering (IPO) of S A Tech Software India Ltd opened for subscription on Friday. The issue was fully booked within hours and will remain open until July 30. This SME IPO has received strong interest from investors.

Subscription Status

As of 2:10 pm, the IPO was subscribed 6.44 times in total. It received bids for 1.63 crore shares compared to the 25.34 lakh shares on offer. By category, the retail segment was subscribed 9.70 times, Qualified Institutional Buyers (QIB) 1.00 times, and Non-Institutional Investors (NII) 6.12 times.

The grey market premium (GMP) for S A Tech Software India IPO is ₹70 per share. This indicates that shares are trading at ₹129 each in the grey market, a 118.64% premium over the IPO price of ₹59 per share.

IPO Details

• Open Dates: July 26 – July 30
• Allotment Date: Likely July 31
• Listing Date: August 2
• Price Band: ₹56 to ₹59 per share
• Total Raise: ₹23.01 crore at the upper price band
• Fresh Issue: 39 lakh equity shares
• Lot Size: 2,000 shares
• Minimum Investment: ₹118,000 for retail investors

The funds raised will be used for repaying certain borrowings, working capital needs, and general corporate purposes. GYR Capital Advisors Private Limited is the lead manager, and Bigshare Services Pvt Ltd is the registrar.

About S A Tech Software India Ltd S A Tech Software India is an IT consulting firm and a subsidiary of SA Technologies Inc., USA. It provides services such as application development, mobile app development, cloud infrastructure, software quality assurance, and generative AI.

The company is promoted by SA Technologies Inc., Manoj Joshi, and Priyanka Joshi. For the quarter ended June 2024, the company reported a net profit of ₹2.48 crore on revenue of ₹23.97 crore. In FY24, it had a net profit of ₹3.68 crore and revenue of ₹72.38 crore.