Tridhya Tech IPO: SME’s public offer to open on 30 June, to list on NSE Emerge; 10 key pointers to know

Here are the key highlights of the IPO as of now:

GMP: The grey market premium of Tridhya Tech is not available at the moment.

Issue size: Tridhya will be offering 62,88,000 equity shares in the IPO having a face value of ₹10 each. The Issue is being made pursuant to Regulation 229(2) and 253(1) of SEBI (ICDR) Regulations. As the company’s post-issue paid-up capital is more than ₹10 crore and up to ₹25 crore.

Price band: The issue price including the premium per equity share is not yet mentioned. However, will be announced in due course. Nevertheless, the price band will have a face value of ₹10 each.

Issue availability: The IPO will open on June 30, and will close on July 5, 2023. The subscription will be allowed for four days which are June 30, July 3rd, 4th, and 5th, as the market will be closed on July 1st and 2nd due to the weekend holiday. Prior to this, anchor investors will be able to trade on June 27, 2023.

Investment categories: Not more than 50% of the total issue size will be available for qualified institutional buyers (QIBs), while 15% of the portion will be allocated to non-institutional investors. The rest of the 35% of the issue will be reserved for retail individual investors.

Allotment of shares: According to the red herring prospectus, investors should note that the allotment of equity shares to all successful applicants will only be in the dematerialized form. Further, it added that the offer is subject to obtaining the final listing and trading approvals of the stock exchanges, which the company will apply for after the allotment of equity shares and within six working days of the bid/offer closing date.

Thereby, as per the Chittorgarh website, the basis of allotment of equity shares will likely be done on July 10, while the initiation of refunds to be carried on July 11, and the credit of equity shares to the investors’ demat accounts will likely be done by July 12, 2023.

Listing date: Post the IPO, Tridhya Tech will be listing its equity shares on the Emerge Platform of the National Stock Exchange of India (NSE). The platform is backed by NSE for small and medium-sized enterprises and startups.

As per the website, Tridhya will list on July 13 on NSE Emerge, after the allotment of equity shares to investors.

Proceeds: Tridhya plans to utilize the proceeds of the issue for repayment of unsecured and secured loans. Also, a portion of the proceeds will be used for general corporate purposes.

Lead manager: Interactive Financial Services is acting as the book-running lead manager to the IPO. While Link InTime is the registrar.

Financial results: As of December 31, 2022 period, the company’s revenue from operations stood at ₹13.71 crore compared to ₹13.72 crore as of March 31, 2022. PAT stood at ₹2.85 crore as of December 31, 2022, as against ₹3.43 crore as of March 2022 period. However, net worth by the end of December 2022, has climbed to ₹20.31 crore as against ₹14.58 crore as of March 2022-end.

Tridhya Tech’s business is engaged in full-service Software Development which includes all IT services and resources. The company provides turnkey consultancy services to various industries like e-commerce, Real estate, transport, Logistics, Insurance and other sectors.

Updated: 23 Jun 2023, 10:51 PM IST