iValue Infosolutions IPO subscribed 1.82 times, set to list on Sept 25

The initial share sale of iValue Infosolutions Ltd received 1.82 times subscription on the closing day of bidding on Monday.

The company's IPO received bids for 2,38,25,200 shares against 1,31,17,272 shares on offer, according to NSE data.

The category for Qualified Institutional Buyers (QIBs) got subscribed 3.18 times. The portion for Retail Individual Investors (RIIs) attracted 1.28 times subscription and non-institutional investors quota received 1.26 times subscription.

Creador-backed iValue Infosolutions on Wednesday garnered Rs 168 crore from anchor investors.

The Rs 560-crore public offering has a price band of Rs 284-299 per share.

At the upper end, the company is valued at around Rs 1,600 crore.

The IPO is a complete offer-for-sale (OFS) of 1.87 crore equity shares by promoters, an investor and individual shareholders, worth Rs 560 crore at the upper end of the price band.

Since the entire issue is an OFS, all proceeds will go directly to the selling shareholders rather than the company.

The company said the IPO is intended to achieve the benefits of listing equity shares on the stock exchanges and to facilitate the OFS for selling shareholders.

iValue Infosolutions is an enterprise technology solutions specialist offering comprehensive, purpose-built solutions for securing and managing digital applications and data.

It primarily serves large enterprises in their digital transformation journeys by working with system integrators and OEMs (original equipment manufacturers) to identify, recommend, and deploy solutions that ensure the performance, availability, scalability, and security of applications and data.

IIFL Capital Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue.

Equity shares of iValue Infosolutions are expected to be listed on the BSE and the NSE on September 25.