If you’re considering investing in an IPO, here’s some important news.
SA Tech Software India Limited is set to launch its Initial Public Offering (IPO) this week.
The IPO will open for subscription on Friday, July 26, and close on Tuesday, July 30. The price range for the shares is set between ₹56 and ₹59 each.
The minimum investment for retail investors is ₹1,18,000 for a lot of 2,000 shares.
Key Details and Uses of Funds
The IPO allotment will be finalized on July 31, and the shares will be listed on August 2. SA Tech Software India aims to raise ₹23.01 crore by issuing 39 lakh new equity shares.
The funds will be used to repay existing loans, meet working capital needs, and cover general corporate expenses.
This IPO is part of the SME segment and will be listed on the NSE SME platform.
GYR Capital Advisors Private Limited is the Book Running Lead Manager, and Bigshare Services Private Limited is the IPO Registrar.
Company Background and Market Performance
SA Tech Software India is an IT consulting arm of the foreign company SA Technologies Inc., USA. It offers services like application development, mobile app development, cloud infrastructure, software quality assurance, and generative AI.
The company is promoted by Manoj Joshi and Priyanka Joshi.
Grey Market Premium
In the grey market, SA Tech Software India shares are currently trading at a strong premium.
The grey market premium (GMP) is ₹59 per share, meaning the shares are trading at ₹118 each in the unlisted market. This represents a 100% premium over the IPO price of ₹59 per share.
