India’s First Startup Launches its IPO Today
Alphalogic Techsys IPO became India’s First Startup IPO. Because it is going to change the world for entrepreneurs and venture capital funds operating in India. There is an alternative available in the form of a Startup IPO for young entrepreneurs who have a strange relationship with venture capital investors.
In February 2019, The Market regulator SEBI has mentioned that it covered the way to separate platform for startups to provide young companies easier access to capital and way to bring in a new class of investors.
Software consulting firm Alphalogic Techsys has announced its Initial Public Offer of Rs 6.18 crore. It opened for bidding on today (26-8-2019) at a fixed price of Rs 84 per equity share. One needs to buy a minimum of 1600 shares and the minimum investment would be Rs 1,34,400. The Issue offers a total of 7.36 lakh shares worth Rs 6.18 crore. As per the source, at an offer price, the scrip is available at 7.32 times FY19 earnings per share.
Pune Based Boutique software company Alphalogic Techsys IPO will close on August 28, 2019. It expects to list on 5th September 2019 on BSE. As of the source, the promoters of the company said it will be the first company to listed on the BSE start-up platform. The Issue has managed by Finshore Management Services.
As per the source, venture capital investors demand too much control and interference in the working system of the business. The company’s net profit doubled in Fiscal Year 2019. In the last 4 years, the company has been growing at 40 percent of CAGR. The company has maintained clients in more than 12 countries around the world. In the US, the company has already worked on some projects related to the healthcare domain.