SA Tech Software shares list at 90% premium on NSE SME platform
SA Tech Software listed on the NSE SME platform with a premium of 90% on Friday. The stock debuted at Rs 112.1 as against an issue price of Rs 59.
Ahead of the listing, the company's shares were trading with a GMP of Rs 53 in the unlisted market.
The IPO, which was completely a fresh equity sale of 39 lakh shares, received a robust response from investors with an overall subscription of over 600 times at close.
The net proceeds from the public offer will be used for repayment of debt, working capital requirements and other general corporate purposes.
SA Tech Software, centered in Pune and Bengaluru, is an IT consulting subsidiary company of foreign corporate SA Technologies Inc. It is an AI-driven company, offering scalable IT outsourcing solutions and global development centers (GDCs) that enhance business agility and efficiency.
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The company's services range from individual support to large scale enterprise transformations, providing the flexibility to scale from 1 to 1000 professionals as needed.
Its GDCs drive innovation and R&D, deliver cost-efficient solutions, ensure stringent quality assurance, and provide 24/7 operations. The company has experience of catering to global as well as domestic customers for more than a decade.
Over the years, SA Tech has entered into a service partnership with its holding company to cater to the needs of foreign clients. The company services to a diverse portfolio of clients ranging
