The initial public offering of Ahmedabad-based software development company, Tridhya Tech Ltd. received overwhelming response for its Rs. 26.41 crore SME IPO and got subscribed over 72 times. Non institutional investor category received the highest interest among investors and was subscribed over 182.72 times. Retail segment was subscribed 67.62 times and QIB segment was subscribed 15.62 times. Company received bids for 32.87 crore shares against the 62.88 lakh shares on offer in the public issue.
Company has finalised issue price at Rs. 42 per share. Company’s shares will be listed on the SME Emerge Platform of the National Stock Exchange on July 13, 2023. The public issue closed for subscription on July 5. The company plans to use the proceeds of the public issue for the repayment of unsecured and secured loans and general corporate purposes for the company’s business activities.
The IPO Committee of the company finalized allocation of 14.31 lakh equity shares to anchor investors at offer price of Rs. 42 per share raising Rs. 6.01 crore. Company has allocated 9.54 lakh equity shares to Craft Emerging Market Fund – Elite Capital Fund and 4.77 lakh equity shares to Craft Emerging Market Fund – Citadel Capital Fund.
| Investor Category | Bids Received (Shares) | Subscription (times) |
| Qualified Institutional Buyers(QIBs) | 2,42,79,000 | 15.62 |
| Non-Institutional Investors* | 16,30,89,000 | 181.72 |
| Retail Individual Investors | 14,13,69,000 | 67.62 |
| Total | 32,87,37,000 | 72.38 |
Incorporated in 2018, Tridhya Tech Limited is Ahmedabad based full-service software Development Company that believes in technological empowerment and caters its services to eCommerce, web, and mobile application development and provides end-to-end tech solutions build an effective digital presence.
The financial performance of the company has exhibited remarkable progress over the years, demonstrating substantial growth and stability. For the nine months ended December 2022, company reported total revenue of Rs. 15.08 crore and earned net profit of Rs. 2.85 crore. As on December 2022, Net worth of the company stands at Rs. 20.30 crore, Total Assets at Rs. 59.69 crore and Reserves & Surplus at Rs. 18.60 crore. Promoter Group shareholding pre-issue is 80.8% which post-issue will be 58.98%.
