The shares of Optivalue Tek Consulting made a strong market debut on September 10, listing at Rs 103.60 apiece on the NSE Emerge platform. This marks a 23.33 percent premium over the IPO price of Rs 84 apiece.
The listing premium in higher than grey market estimates. Ahead of listing, the unlisted shares of the company were trading with around 15.5 percent grey market premium (GMP) over the IPO price at Rs 97 apiece, according to data on Investorgain.
The maiden public issue of the IT solutions and services provider saw strong investor interest during its three days of public bidding, being subscribed 59.96 times between September 2 and September 4. The Rs 52-crore IPO solely comprised a fresh issue of shares at a price band of Rs 80-84 per share.
The IPO funds will be utilised primarily for the development of new products, setting up of branch office at Bangalore, upgrading the existing IT hardware and software, working capital requirements, and general corporate purposes.
Share India Capital Services acted as the merchant banker for the Optivalue Tek Consulting IPO.
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.
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.
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