Alphalogic Industries shares make a flat debut on BSE SME, lists at ₹96
BSE SME exchange Friday. The stock was listed at ₹96 per share same as the IPO's issue price. Alphalogic Industries IPO opened on Monday, July 3 and closed on Thursday, July 6.
The company's IPO is entirely a fresh equity issue of up to 13.41 lakh equity shares, aggregating up to ₹12.88 crore. The company proposes to utilise the net proceeds from the issue towards funding working capital requirements, issue expenses and general corporate purposes. Finshore Management Services is the lead manager for the Alphalogic Industries IPO, while Cameo Corporate Services is the IPO registrar.
The company has reserved 50% shares for retail investors and the rest 50% for other investors. The SME IPO of Alphalogic Industries Ltd was subscribed 5.34 times on Day 4. The issue received positive response from retail investors, who's portion set was subscribed 5.19 times, followed by non-institutional bidders (NII) portion set was subscribed 4.24 times, according to data on chittorgarh.com.
On day 1, the issue was subscribed 49%, where retail portion was booked 25% and NII portion saw 67% subscription, and on day 2 the issue was subscribed 1.20 times, and on day 3 the IPO was subscribed 1.91 times. The promoter of the company is M/S. Alphalogic Techsys Ltd and the promoter shareholding will come down to 73.67% from 100% after the IPO.
The company’s net profit for the year ending March 2023 was ₹2.19 crore and total revenue was ₹18.23 crore. M/s. Alphalogic Techsys Ltd.'s subsidiary Alphalogic Industries.
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