Alpahlogic Techsys IPO oversubscribed 1.18 times on the final day of bidding

The initial public offer (IPO) of software consulting firm Alphalogic Techsys was oversubscribed by 1.18 times on the final day of the bidding process.

The IPO, which looked to raise Rs 6.18 crore's, received bids for 8,72,000 Shares against 7,36,000 shares on offer.

The category reserved for non-institutional investors oversubscribed by 1.96 times and retail individual investor's portion got filled in 53%.

The company fixed the issue Priced at Rs. 84 per share. The issue has closed on Wednesday, August 28 2019.

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

Finshore Management Services Limited is the book-running lead managers to the offer.

The company has been growing at a CAGR of 40% in the last 4 years. In FY 2018-19, the company clocked a stupendous growth rate of 120 per cent. Alphalogic is among the first start-ups from its generation to have grown into becoming a limited company, creating value for all stakeholders, including employees, clients, and investors.

Source : Equity Bulls

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