Software development company Tridhya Tech on Friday said it has raised Rs 26.41 crore through its SME initial public offer, riding on strong demand from non-institutional and retail investors.
The public issue comprising 62.88 lakh shares opened on June 30 on the NSE’s SME platform Emerge and closed on July 5.
The company has finalised the issue price at Rs 42 per share, the upper limit of its price band of Rs 35-42, thereby raising around Rs 26.41 crore, a company statement said.
Shares of the company will be listed on the NSE Emerge platform on July 13, 2023, following the successful IPO which was subscribed around 72 times, it added.
Proceeds from the issue will be utilised for the repayment of unsecured and secured loans and general corporate purposes for business activities.
According to market data, non-institutional investor category received the highest interest and was subscribed over 182.72 times, garnering bids for 16.34 crore shares as against 29.88 lakh shares on …
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Software company Tridhya Tech raises Rs 26.4 crore through SME IPO (07-07-2023)
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Inviting bids, the Securities and Exchange Board of India (Sebi) said an auction of the properties will be conducted through online mode between 11 am and 1 pm on August 7.
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A General Information Document (GID) will contain the information and disclosures specified in the common schedule and will be filed with the stock exchanges at the time of the first issuance.
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