Shares of Sattrix Information Security were quoting at Rs 157.50 on the BSE, a premium of 30.17% compared with the issue price of Rs 121.
The scrip was listed at Rs 150, a premium of 23.97% compared with the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.The counter hit a high of Rs 157.50 and a low of Rs 142.50. About 11.30 lakh shares of the company changed hands at the counter.
Sattrix Information Security's IPO was subscribed 66.89 times. The issue opened for bidding on 5 June 2024 and it closed on 7 June 2024. The price of the IPO was fixed at Rs 121 per share.
The IPO comprised fresh issue of 18,00,000 equity shares. The promoter and promoter group shareholding diluted to 73.53% from 100% pre-offer.
The company intends to utilize the net proceeds to meet expenses for purchasing furniture, fixture & air conditioning for new office at Ahmedabad, to purchase and installation of it equipment, computer hardware, server, san storage, cctv cameras, video conferencing equipment, networking (LAN), development of new product & technology and other business expansion cost, to meet additional working capital requirement and general corporate purpose.
Also Read
Sattrix Information Security is engaged in the business to develop customer-centric cyber security solutions, the company aims to deliver end-to-end cyber security services to enterprises in India, USA, and UAE. The company offers comprehensive cybersecurity services, helping organizations protect their data from unauthorized access and security threats. The company designs and builds data security solutions on cloud and on-premise based on client requirements. Sattrix uses the best available technologies to develop agile solutions that adapt to changing client requirements. As on 31 December 2023, the company has 145 employees on payroll basis.
The company recorded revenue from operations of Rs 30.35 crore and net profit of Rs 2.50 crore for the period as on 31 December 2023.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
