NSE SME Vertexplus Tech makes strong debut

Shares of Vertexplus Technologies were trading at Rs 106.05 at 10:33 IST on the BSE, a premium of 10.47% compared with the issue price of Rs 96.

The scrip was listed at Rs 101, a premium of 5.21% compared with the issue price.

So far, the scrip hit a high of Rs 106.05 and a low of Rs 101. At the counter, 4.35 lakh shares of the company had changed hands till now.

The initial public offer (IPO) of VertexPlus Technologies was subscribed 10.45 times. The issue opened for bidding on 2 March 2023 and it closed on 6 March 2023. The price band of the IPO was set at Rs 91-96 per share.

The IPO comprised fresh issue of 14,79,600 equity shares. About 74,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 14,05,200 equity shares.

The company intends to utilize the net proceeds from the issue for funding working capital requirements, general corporate purpose and public issue expenses.

Ahead of the IPO, VertexPlus Technologies on 1 March 2023, raised Rs 3.98 crore from anchor investors. The board allotted 4.15 lakh shares at Rs 96 each to two anchor investors.

VertexPlus Technologies is an Information Technology company, engaged in consulting, outsourcing, infrastructure and digital solutions and services. The company has experience across various industry sectors. As of 30 September 2022, the company had 313 employees.

The company recorded a revenue from operations of Rs 10.55 crore and net profit of Rs 0.91 crore for the period ended on 30 September 2022.

Powered by Capital Market - Live News