Leading IT providers and options supplier Synoptics Technologies has fastened the problem value at Rs 237 for its preliminary public providing (IPO).
The subscription of IPO is scheduled to open on June 30 and shut on July 5. The shares of the corporate can be listed on NSE Emerge on July 13, a platform for small and medium enterprises, the corporate mentioned in a press release.
The Mumbai-based firm is trying to increase Rs 54 crore by way of its preliminary share sale. The share sale contains a recent concern of 1,480,00 fairness shares and an Offer for Sale (OFS) of 8 lakh fairness shares.
Proceeds from the IPO can be utilised to assist the corporate’s working capital necessities, acquisitions of companies in related or complementary areas, common company functions and assembly its concern bills.
“The IPO will provide the company with the necessary financial resources to fuel its growth, expand its market presence, and capitalize on emerging opportunities in the IT services sector,” it mentioned in a press release. Analyst Dilip Davda has beneficial making use of for the problem whereas underlining the potential for long-term positive aspects.
Incorporated in 2008, the corporate specialises in offering complete IT infrastructure options. Its shoppers list embrace huge names like BSNL, Aditya Birla Group, State Bank of India, amongst others. It not too long ago signed an settlement with BSNL, positioning itself because the authorised Private LTE/5G service accomplice nationwide.
The IPO pricing signifies a lovely valuation. The firm is looking for a market capitalisation of roughly Rs 200.98 crore based mostly on this.
The agency goals to make the most of the web proceeds from the IPO for a number of strategic functions. These embrace reimbursement of sure borrowings, funding extra working capital necessities and others.
