Alpahlogic Techsys subscribed 64% on first day of bidding

The IPO, with an issue size of Rs6.18cr, received bids for 4,70,400 shares against the total issue size of 7,36,000 shares as per BSE data.

Aug 27, 2019 07:08 IST India Infoline News Service

Initial Public Offer, IPO
The initial public offer (IPO) of boutique software consulting firm Alphalogic Techsys was subscribed 64% on the first day of the bidding process.
 
The IPO with an issue size of Rs6.18cr, received bids for 4,70,400 shares against the total issue size of 7,36,000 shares, as per BSE data. 
 
The category reserved for Non-Institutional Investors (NIIs) which include HNIs and Corporates subscribed 125%, whereas retail individual investor category got subscribed 11%. 
 
The company has fixed a price of Rs84 per share. The issue will close on Wednesday. Alphalogic’s IPO comprises of a fresh issue aggregating up to Rs6.18cr and an offer for sale of up to 7,36,000 equity shares. 
 
Finshore Management Services Limited is the book-running lead manager to the offer. 

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