Sattrix Information Security is offering its initial public offering (IPO) worth ₹21.78 crore. The subscription opened on June 5 and closes on June 7, with each share priced at ₹121. Established in 2013, Sattrix Information Security develops cybersecurity solutions tailored to customers’ needs.
Subscription Status: By 1 pm on June 6, the IPO was subscribed 1.95 times. It received bids for 33.28 lakh shares against 17.08 lakh shares available. Non-Institutional Investors (NII) bid 1.19 times, while retail investors bid 2.71 times.
Grey Market Premium (GMP): The IPO’s GMP was ₹0, indicating shares were trading at the issue price.
Key Details:
- The IPO consists only of a fresh issue of 18 lakh equity shares.
- The objective is to raise funds for capital expenditure, including office setup, equipment acquisition, and business expansion costs.
- The minimum lot size is 1,000 shares, requiring a minimum investment of ₹1,21,000 for retail investors.
- Sattrix specializes in cybersecurity services for businesses in the UAE, India, and the United States, offering custom data security solutions and IT infrastructure management.
- Financially, its profit after tax increased by 86.86%, and revenue grew by 60.76% between March 2022 and March 2023.
- Listed peers include Systango Technologies Ltd, Dev Information Technology Ltd, and TAC Infosec Ltd.
- The IPO’s registrar is Bigshare Services Pvt Ltd, with Isk Advisors Pvt Ltd as the book-running lead manager and Sunflower Broking as the market maker.
Important Dates: The IPO will be listed on June 12 on BSE SME, with share allotment likely on June 10 and refunds credited on June 11.
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