Infonative Solutions IPO ends today; check subscription, GMP, listing date

Infonative Solutions IPO: The initial public offering (IPO) of learning and development solutions company Infonative Solutions has received a muted response from investors so far. The SME IPO opened for subscription on Friday, March 28, and will close today, April 3. Although the issue was fully subscribed on the third day of the subscription period, it was oversubscribed by around 1.7 times as of Thursday at 10:49 AM, according to data available on BSE SME.

 

The quota reserved for retail investors was subscribed 2.07 times, while the non-institutional investors (NIIs) quota was booked 1.12 times. However, the issue failed to secure any bids from qualified institutional buyers (QIBs).

 

Infonative Solutions IPO details

Infonative Solutions aims to raise ₹24.71 crore through the fresh issue of 3.12 million equity shares. The company has set the price band in the range of ₹75 to ₹79 per share. Retail investors require a minimum investment amount of ₹1,20,000 to bid for one lot consisting of 1,600 shares. The minimum investment required for high-net worth individuals is ₹2,52,800 for two lots of 3,200 shares.  As the subscription window closes today, the basis of allotment of coampny's shares is likely to be finalised on Friday, April 4, 2025.

  Shares of Infonative Solutions are scheduled to list on the BSE tentatively on April 8, 2025. 

  Kfin Technologies is the registrar for the issue. Share India Capital Services is the sole book-running lead manager. 

  According to Red herring prospectus, the company plans to use ₹7.35 crore from the net fresh issue proceeds to meet the expenses for the development of new products, courses and new features in LMS and purchase of laptops, and ₹5 crore for working capital requirements. The remaining proceeds will be used for general corporate purposes and unidentified acquisitions. 

 

Infonative Solutions IPO GMP

On Thursday, the unlisted shares of Infonative Solutions were trading at ₹93 per share, commanding a grey market premium (GMP) of ₹14, or 17.7 per cent over the upper end of the issue price of ₹79, according to sources tracking unofficial market activities.

 

About Infonative Solutions

Infonative Solutions in September 1998, Infonative Solutions is primarily involved in the business of developing and designing e-learning content and services and courseware & other products including providing cloud-based learning management systems (LMS). The company provides cutting-edge e-learning delivery services to enhance business impact for its customers. 

In FY24, Infonative Solutions posted a total revenue of ₹18.07 crore, down 13.7 per cent from ₹20.95 crore reported in fiscal year 2022-23 (FY23). It reported a profit after tax (PAT) of ₹1.45 crore in FY24, up 35.6 per cent from ₹1.06 crore in the previous fiscal year.