Fidel Softech IPO receives good investor response

July 04, 2022 23:30 IST | ANI Press Release
Tennis player James Blake
Fidel shares listing Bell ceremony at NSE, Mumbai

Pune (Maharashtra) [India], July 4 (ANI/NewsVoir): Fidel Softech Limited, a Pune-based LangTech company went public on the NSE SME Exchange on June 10. The IPO was oversubscribed by 102 times and was very well received by the investors.

Fidel Softech Ltd works in the areas of Localization and IT Consulting services and in operations since 2004. It helps clients deliver their technology solutions with local language UI/UX. Its localization services include translations as well as localization of software, websites, multi-lingual data creation for training AI engines, transcription and annotation, video subtitling, natural language processing, testing and automation.

On the company's recent IPO success, Fidel Softech's CEO, Sunil Kulkarni, thanked all investors, clients, team members, past alumni, supporters and well-wishers. He added, "This was a culmination of our team efforts & support from our clients/partners for over 18+ years. Fidel is the first 'LangTech' company from India to go public. It is also one of the first IT & consulting services SME to go public with a focus since its inception on Japan-India geography. This is the 70th Anniversary year of the establishment of diplomatic relations between India and Japan & hence very special for us. Localization is globally a 26 billion USD market and India is well poised to contribute to it.

Further, by focusing on language-centric technical consulting services & digital financial literacy solutions, Fidel supports the govt vision of bridging the digital divide. By bringing Technology-Languages-Consulting together, Fidel offers a one-stop solution to its clients."

Prachi Kulkarni, Managing Director, said that "this is a step to increase the pace of growth, open new markets, attract talent and develop new competencies. She mentioned that this also was a step to further strengthen security, environmental, social and corporate governance (ESG). Fidel is equal opportunity firm and the team has a 50 per cent diversity ratio almost since its inception."

Mandar Inamdar (CFO) mentioned that "this fundraise is to scale the growth and that Fidel is equally focussed on social impact. New job opportunities will be created with an emphasis on tier 2 and 3 cities in India to leverage the local language as well as technical skills. Adequate training in technologies & languages including Japanese will also be provided."

Sushrut Potdar, Chief Technology Officer, is confident about taking Language Technology expertise to new landscape. He said, "with the proliferation of smartphones, lowering of data packs and growing aspirations, clients are going Glocal (Global +Local) and hence want to deliver products & services in local language UI / UX using innovative technical solutions. We support these client initiatives and ensure state-of-the-art technology, video-audio solutions, data analytics, multi-lingual SEO and support 100+ languages including all Indian languages."

Fidel Softech Ltd is the latest company from Pune to go public and the rise and gains in Fidel are attributed to investor optimism and are expected to grow in future.

Website: (https://fidelsoftech.com)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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