iValue Infosolutions Ltd.'s initial public offering opened for subscription on Thursday. The IPO consists only of an offer for sale of 1.87 crore equity shares of face value of Rs 2 each.
Investors can bid for shares in the price band of Rs 284 to Rs 299. The IPO size based on the upper price band amounts to Rs 560 crore.
Promoters Sunil Kumar Pillai, Krishna Raj Sharma, and Srinivasan Sriram will offload their equity shares in the OFS, according to the red herring prospectus.
Investor Sundara (Mauritius) Ltd., an affiliate of private equity firm Creador, will also be selling 1.1 crore shares. Sundara had invested $18 million to pick up a minority stake in the business back in 2019.
A total of 13 shareholders are selling equity via OFS.
The proceeds from the entire issue, barring IPO expenses, will go to the selling shareholders. The promoters and the company will not receive any funds from the issue.
Motilal Oswal Investment Advisors Ltd. and IIFL Capital Services Ltd. are the lead book-running managers for the issue, while Kfin Technologies is the registrar for the issue.
iValue Infosolutions is an enterprise technology solutions provider focusing on securing and managing digital applications and data. The Bengaluru-based company offers security analytics, network security, application management, cloud integration, digital transformation, and risk assessment services to its customers in India.
IPO Details
IPO size: Rs 560 crore (entirely OFS)
Price band: Rs 284 to Rs 299
Opening date: Sept. 18
Closing date: Sept. 22
Allotment date: Sept. 23
Listing date: Sept. 25
Minimum lot size: 50 equity shares (Rs 14,950)
IPO Day One Subscription Status
The iValue Infosolutions IPO was subscribed 8% as of 11:00 on Thursday.
Institutional investors (QIB): nil
Non-Institutional investors (NII): 4%
Retail investors: 14%
iValue Infosolutions IPO GMP
The latest grey market premium of iValue Infosolutions is Rs 15, as per Investorgain.com. The stock's estimated listing price is Rs 314, implying a gain of 5% over the IPO price of Rs 299.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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