SA Tech Software India IPO: The initial public offering (IPO) of SA Tech Software India Ltd has received strong demand from investors across sectors. The SA Tech Software India IPO is an IPO for small and medium sized enterprises for which subscriptions will open on 26th July and close on 30th July.
SA Tech Software India’s IPO was fully booked within hours of launch and was heavily oversubscribed on the first day, as seen in subscription data.
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Check now SA Tech Software India IPO GMP, subscription status and other important details of SME IPO.
SA Tech Software India IPO Application Status
The SA Tech Software India IPO has been subscribed a total of 51.85 times so far as on Monday, the second day of the bidding process. The IPO received bids for 13.14 crore shares against the offer size of 2.534 crore shares, according to data available till 1.10 pm.
So far, the offering has been subscribed 82.47 times by retail investors, 4.29 times by qualified institutional buyers (QIBs) and 43.91 times by non-institutional buyers (NIIs).
SA Tech Software India IPO GMP
SA Tech Software India IPO GMP, or Grey Market Premium, is today ₹70 per share, according to stock market experts. This is because SA Tech Software India shares ₹The grey market bid was $129 per share, a 118.64% premium to the IPO price. ₹59 per share.
SA Tech Software India IPO Details
SA Tech Software India’s IPO will open for subscription on Friday, July 26 and close on Tuesday, July 30. The IPO allotment will be finalized on July 31 and the IPO listing date is expected to be August 2.
SA Tech Software India IPO Price Range ₹From 56 ₹$59 per share. At the high end of the price range, the company ₹The Rs 2,301 crore was raised through a bookbuild issue of 3.9 million fresh shares. The IPO lot size was 2,000 shares and the minimum investment required from retail investors was ₹118,000.
The Company proposes to use the proceeds from the offering to prepay or repay a portion of the Company’s outstanding borrowings, for working capital needs and general corporate purposes.
GYR Capital Advisors Private Limited is the bookrunning lead manager for the SA Tech Software India IPO and Bigshare Services Pvt Ltd is the IPO registrar.
About SA Tech Software India Ltd
SA Tech Software India is an IT consulting subsidiary of US foreign company SA Technologies Inc, offering services such as application development, mobile app development, cloud infrastructure, software quality assurance and generative AI.
The promoters of the company are SA Technologies Inc., USA, Manoj Joshi and Priyanka Joshi.
The company reported a net profit. ₹Sales for the fiscal year ending June 2024 are expected to be 248 million rupees. ₹2,397 crore in Q1 FY25. The company’s net profit and sales for FY24 were ₹36.8 million and Rs. ₹723.8 million rupees respectively.
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