Alphalogic Techsys IPO receives overwhelming response; oversubscribed on second day of bidding

The company, which is looking to raise Rs6.18cr, received bids for 7,60,000 Shares against the total issue size of 7,36,000 shares as per the BSE data.

Aug 28, 2019 06:08 IST India Infoline News Service

Initial Public Offer, IPO
India’s first Startup initial public offer (IPO) of software consulting firm Alphalogic Techsyshas received a good response from the Investors. On day 2 of the bidding, the issue has been oversubscribed.
 
The company, which is looking to raise Rs6.18cr, received bids for 7,60,000 Shares against the total issue size of 7,36,000 shares as per the BSE data. 

The category reserved for Non-Institutional Investors (NII) oversubscribed 1.95 times and retail individual investors portion got filled by 23%.

The company fixed the issue Price at Rs84 per share. The issue will close on Wednesday, August 28 2019. 

Alphalogic’s IPO comprises of a fresh issue aggregating up to Rs6.18cr and 7,36,000 shares are up for sale.

Finshore Management Services Limited is the book-running lead manager to the issue. 

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