Infollion Research Services SME IPO to open on 29 May 2023: Key points to note

An SME IPO with 2,616,000 equity shares with a face value of 10 and a total value of up to 21.45 Crores is being offered by Infollion Research Services. The issue price is fixed at 80 to 82 per share. The IPO consists fresh issue size of 22,24,000 equity shares and offer for sale (OFS) of 3,92,000 equity shares. The shares are intended to be listed on NSE SME, and the initial public offering (IPO) begins on May 29 and ends on May 31, 2023. 1,600 equity shares, representing a minimum investment of Rs. 1.31 lakh, make up the issue’s market lot size.

Infollion Research Services SME IPO is coming with a fixed share allocation of 12,08,000 shares for Qualified Institutional Buyers (QIB), 4,04,800 Equity Shares for Non-Institutional Investors (NII), 8,70,400 Equity Shares for Retail Individual Investors (RII) and 1,32,800 Equity Shares for market maker.

Infollion Research Services latest IPO GMP today is 40. The expected listing price for the Infollion Research Services SME IPO is 122 (cap price + today’s GMP), representing an upside listing premium of 48.78% as per the grey market, taking into account the price range of 82.

The current service line in the US and Western European area will be expanded by introducing new categories of freelancers and technological development using the net proceeds from the IPO. Holani Consultants Private Limited is the Issue’s Lead Manager, while Link Intime India Private Limited is its Registrar.

Gaurav Munjal – Promoter & Managing Director of Infollion Research Services Limited said, “After emerging as the leading home-grown expert network, the IPO is a significant milestone in our journey towards global expansion. Our aim is to provide quality services leveraging our talented team while pursuing international expansion. The funds raised through the IPO will be instrumental in fueling our growth and enhancing our presence in the US and Western European markets. With these resources, we can invest in advanced technology, infrastructure, and talent acquisition, enabling us to deliver even higher levels of service excellence. By expanding into these key regions, we seek to tap into new client bases, establish strategic partnerships, and explore untapped market opportunities.”

Mr. Ashok Holani, Managing Director, Holani Consultants Private Limited, BRLM to the issue, said, “We firmly believe that IPO will provide Infollion Research Services Limited with the essential resources needed to expand its business in the international market and strengthen its position within the B2B Human Cloud segment. We are confident that the funds raised through this offering will act as a catalyst for Infollion Research Services’ international growth plans. By strategically utilizing these resources, the company will be able to enhance its operations, penetrate new markets, and establish a stronger global presence. This expansion will enable Infollion Research Services to access a wider client base.”

Incorporated in 2009, Infollion Research Services Limited works in the B2B Human Cloud segment’s specialised market.

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