Alphalogic Techsys IPO to open on Aug 23

Pune-based boutique software consulting firm Alphalogic Techsys said its initial public offering (IPO) of Rs 6.18 crore will open for bidding on August 23 - becoming the first company to be listed on BSE start-up platform.

The offer will have a fixed price of Rs 84 per equity share, and the minimum lot size for investment is of 1,600 shares with minimum investment at Rs 1,34,400, a statement said.

The issue will close on August 27, 2019, it added.

"The company expects to list on September 5, 2019 on the start-up platform of the BSE. The company is set to become the first company to be listed on BSE start-up platform," the statement said.

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

The company has been growing at a CAGR of 40 per cent in the last four years. In 2018-19, the company clocked a growth rate of 120 per cent and has clients in over 12 countries.

"While having witnessed exponential business growth in India and abroad, we are really glad to take Alphalogic to yet another level with its successful listing on the BSE start-up Platform. With the raised funds we aim at expanding into new clientele and expand the team in order to leverage various organic and inorganic opportunities targeting accelerated growth," Alphalogic Techsys Managing Director Anshu Goel said.