Ahmedabad-based software development company, Tridhya Tech Ltd, has unveiled its plans to raise up to Rs 26.41 crore through a Small and Medium Enterprise (SME) public issue. The subscription for the IPO is set to commence on June 30th. The funds raised from the public issue will be utilized for the repayment of unsecured and secured loans, as well as general corporate purposes related to the company’s business activities.
Upon successful completion of the IPO, Tridhya Tech’s shares will be listed on the SME Emerge Platform of the National Stock Exchange (NSE). Leading the issue is Interactive Financial Services Ltd, serving as the lead manager for the IPO. The public issue will remain open for subscription until July 5th.
The initial public offering comprises a fresh issue of 62.88 lakh equity shares, each with a face value of Rs 10. The shares will be offered within a price band of Rs 35-42 per share, including a premium of Rs 25-32 per equity share. Tridhya Tech aims to raise up to Rs 26.41 crore from this public issue.
For investors interested in participating, the minimum lot size for the application is 3000 shares, amounting to a minimum application range of Rs 1.05 – Rs 1.26 lakh per application. The IPO has allocated a retail investor quota of not less than 35%, ensuring that retail investors have ample opportunity to participate. Additionally, a High Net Worth Individual (HNI) quota of 15% has been set, allowing affluent investors to be a part of the offering. The Qualified Institutional Buyers (QIB) quota has been capped at a maximum of 50% of the total issue size. Furthermore, the market maker reservation portion is set at 3,15,000 equity shares.
Tridhya Tech Ltd, known for its expertise in software development, aims to leverage the IPO proceeds to strengthen its financial position by reducing its debt burden. The repayment of loans will enhance the company’s working capital, providing a solid foundation for its future growth and expansion plans. Tridhya Tech’s track record in delivering innovative software solutions has positioned the company for success in the rapidly evolving technology landscape.
By listing its shares on the SME Emerge Platform of the NSE, Tridhya Tech is poised to gain visibility and attract potential investors looking for promising opportunities in the software development sector. The platform’s focus on SMEs provides an ideal environment for the company to showcase its growth potential and unlock value for its stakeholders.
Tridhya Tech’s IPO launch reflects the confidence it holds in its business prospects and showcases its commitment to transparency and investor participation. The offering is expected to generate significant interest from investors, given the company’s strong market presence and its ability to deliver cutting-edge software solutions to a diverse clientele.
As the subscription for Tridhya Tech’s IPO opens on June 30th, market participants and investors eagerly await the opportunity to be part of the company’s growth journey. With its strategic plans in place and a focus on financial stability, Tridhya Tech is well-positioned to capitalize on emerging opportunities in the software development space and create value for its shareholders in the long run.
