iValue Infosolutions IPO subscribed 27% on Day 1 - Check GMP, other key details

iValue Infosolutions IPO subscription beings on September 18. 

iValue Infosolutions IPO opened for public subscription in the primary market on September 18. The issue garnered Rs 168 crore from anchor investors, a day before its initial share-sale opening.

The Rs 560-crore Creador-backed iValue Infosolutions IPO will conclude on September 22. The price band has been set at Rs 284 to Rs 299 per share.

The three-day initial share of iValue Infosolutions sale received bids for 35.60-lakh shares against 1.31-crore shares on offer, translating into 27 percent subscription, according to data available with the NSE.

The portion for non-institutional investors was subscribed 23 percent, while the quota for retail individual investors got subscribed 44 percent.

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iValue Infosolutions IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of iValue Infosolutions are commanding a GMP of over 8 percent in the unregulated market. Investorgain quoted a GMP of Rs 25 for the shares of the company, indicating a listing gain of 8.36 percent.

At the upper end, the company is valued at around Rs 1,600 crore. Since the entire issue is an OFS, all proceeds will go directly to the selling shareholders rather than the company.

The company said the IPO is intended to achieve the benefits of listing equity shares on the stock exchanges and to facilitate the OFS for selling shareholders.

iValue Infosolutions is an enterprise technology solutions specialist offering comprehensive, purpose-built solutions for securing and managing digital applications and data. It primarily serves large enterprises in their digital transformation journeys by working with system integrators and OEMs to identify, recommend, and deploy solutions that ensure performance, availability, scalability, and security of applications and data.

Founded in 2008, the company operates across eight locations in India and has an international presence in six markets -- Singapore, Bangladesh, Sri Lanka, the UAE, Cambodia, and Kenya.

iValue Infosolutions IPO shares are expected to be listed on the BSE and NSE on September 25, while the allotment is expected by September 23.

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