Mumbai-based Unified Data-Tech Solutions will launch its initial public offering on May 22, with price band of Rs 260-273 per share. This would be the second biggest SME IPO in the current year after CapitalNumbers Infotech.
The IT solutions provider plans to raise Rs 144.47 crore via public issue of 52.92 lakh shares at the upper price band. The IPO comprises of entirely offer-for-sale by promoter Hiren Rajendra Mehta.
Hence, the entire IPO proceeds will go to the selling shareholder. The company will not receive any money from the public issue.
The anchor book for institutional investors will be launched on May 21, while the issue for public subscription is going to close on May 26. The share allotment will be finalised by May 27, while the trading in Unified Data-Tech Solutions shares will commence on the BSE SME effective May 29.
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Incorporated in year 2010, Unified Data-Tech Solutions that seeks valuation of Rs 548.46 crore provides several IT solutions including data centre infrastructure, virtualization, data protection, networking, cybersecurity, and secure application delivery, and catering to a wide range of industries, such as banking, finance, insurance, manufacturing, pharmaceuticals, IT and IT-enabled services.
The book running lead manager handling the public issue is Hem Securities.
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