Alphalogic Techsys IPO receives overwhelming response, oversubscribed on second day of bidding

India's first Startup initial public offer (IPO) of software consulting firm Alphalogic Techsyshas received a good response from the Investors. On day 2 of the bidding, the issue has been oversubscribed.

The company, which is looking to raise Rs 6.18 crore, received bids for 7,60,000 Shares against the total issue size of 7,36,000 shares as per the BSE data.

The category reserved for Non-institutional Investors (NII) oversubscribed 1.95 times and retail individual investors portion got filled by 23%.

The company fixed the issue Price at Rs. 84 per share. The issue will close on Wednesday, August 28 2019.

Alphalogic's IPO comprises of a fresh issue aggregating up to Rs 6.18 crore and 7,36,000 shares are up for sale.

Finshore Management Services Limited is the book-running lead manager to the issue.

Source : Equity Bulls

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