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The initial public offer (IPO) of Tridhya Tech received bids for 15,96,000 shares as against 48,57,000 shares on offer, as per NSE data as of 17:00 hours on Friday (30 June 2023) The issue was subscribed 0.33 times.
The issue opened for bidding on Friday (30 June 2023) and it will close on Wednesday (05 July 2023). The IPO price band was set at Rs 35 to Rs 42 per share. The minimum order quantity is 3000 shares. The equity shares are proposed to be listed on the Emerge platform of National Stock Exchange.
The IPO comprises fresh issue of upto 62,88,000 equity shares (including market maker portion of 3,15,000 equity shares and anchor allocation of 14,31,000 equity shares).
The promoter and promoter group shareholding will dilute to 58.98% from 80.80% pre-IPO.
The company intends to utilize the net proceeds for repayment of unsecured and secured loans and general corporate purposes.
Tridhya Tech is a full-service software development company offering a range of IT services and resources. The company provides consultancy services to various industries including e-commerce, real estate, transport, logistics, and insurance. its services encompass ecommerce development, enterprise content management, bespoke web management, mobile app development, API development, product support & maintenance, front end development, and graphic design.
The company recorded revenue from operations of Rs 1,370.94 crore and net profit of Rs 284.97 crore for the period ended on 31 December 2022.
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