S A Tech Software India IPO: The initial public offering (IPO) of S A Tech Software India Ltd has been receiving strong demand from investors across categories. S A Tech Software India IPO is an SME IPO that opened for subscription on July 26 and closes today, July 30.
S A Tech Software India IPO got fully booked within hours of opening and got heavily oversubscribed on the first day itself, as seen in the subscription status data.
Let us check S A Tech Software India IPO GMP today, subscription status and other key details of the SME IPO.
S A Tech Software India IPO has been subscribed 378.48 times in total so far on Tuesday, the third and the last day of the bidding process. The IPO received bids for 95.90 crore equity shares as against 25.34 lakh shares on the offer, according to the data available till 2:30 pm.
The public issue has been subscribed 456.92 times in the retail category, 114.63 times in Qualified Institutional Buyers (QIB) category, and 547.11 times in the Non-Institutional Investors (NII) category so far.
S A Tech Software India IPO GMP today, or grey market premium today, has risen to ₹80 per share, according to stock market experts. This indicates that S A Tech Software India shares are trading at ₹139 apiece in the grey market, a premium of 135.59% to the IPO price of ₹59 per share.
S A Tech Software India IPO opened for subscription on Friday, July 26, and closes today, Tuesday, July 30. The IPO allotment is likely to be fixed on July 31, and the IPO listing date is August 2.
S A Tech Software India IPO price band is ₹56 to ₹59 per share. At the upper-end of the price band, the company aims to raise ₹23.01 crore from the book-built issue which is entirely a fresh issue of 39 lakh equity shares. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹118,000.
The company proposes to utilise the issue proceeds towards prepayment or repayment of certain outstanding borrowings of the company, working capital requirements and general corporate purposes.
GYR Capital Advisors Private Limited is the book running lead manager of the S A Tech Software India IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
S A Tech Software India is an IT consulting subsidiary of the foreign corporation SA Technologies Inc, USA, that provides application development, mobile app development, cloud infrastructure, software quality assurance, generative AI, and other services.
The promoters of the company are SA Technologies Inc., USA, Manoj Joshi and Priyanka Joshi.
The company reported a net profit of ₹2.48 crore for the quarter ended June 2024. Its revenue was at ₹23.97 crore during Q1FY25. The company’s net profit and revenue in FY24 was ₹3,68 crore and ₹72.38 crore, respectively.
