Optivalue Tek Consulting, the Delhi-based IT solutions provider, will open its Rs 51.8-crore initial share sale for public subscription in the coming week on September 2, and close on September 4.
The IPO comprises of solely fresh issue of 61,69,600 equity shares by the company. The price band for the offer has been fixed at Rs 80-84 per share.
Tentatively, the IPO share allotment will be finalised by September 8 and the trading in Optivalue shares will commence on the NSE Emerge effective September 10.
Optivalue Tek Consulting has reserved half of its offer size for qualified institutional buyers, 35 percent for retail investors and the 15 percent for non-institutional investors.
The company that develops computer software and provides hardware consulting is promoted by Ashish Kumar and competes with listed peers like Dev Information Technology, and Euphoria Infotech India.
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The IPO proceeds will be used for development of new products, setting up of branch office at Bengaluru, and upgrading the existing IT hardware & software. Further, the balance amount will be utilised for working capital requirements, and general corporate purposes.
On the financial front, its profit in FY25 grew by 121.9 percent to Rs 12.2 crore, up from Rs 5.5 crore in the previous year. Revenue during the same period increased by 53.4 percent to Rs 56.1 crore, compared to Rs 36.6 crore in FY24.
Share India Capital Services is acting as the sole book running lead manager for the Optivalue Tek Consulting IPO.
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