Ace Alpha Tech IPO: Check Subscription Status, Price Band, GMP, Offer Size And Other Key Details
Ace Alpha Tech IPO: The Rs 32.22-crore BSE SME IPO will remain open for subscription till June 30.
Ace Alpha Tech Ltd. launched its initial public offering (IPO) on Thursday to raise more than Rs 30 crore from the primary market. The company provides a wide range of financial services to various corporate entities across sectors. To decide whether you should invest in this offer, you must check the following details.
Ace Alpha Tech IPO: Key Details
Ace Alpha Tech IPO is a book-building issue aimed at raising Rs 32.22 crore. It comprises a fresh issue of 35.48 lakh shares worth Rs 24.48 crore and an offer for sale of 11.22 lakh shares worth Rs 7.74 crore.
The price band for the IPO has been set between Rs 65 and Rs 69 per share.
To take part in the IPO, retail investors need to bid for a single lot size of 2,000 shares, requiring an investment of Rs 1,30,000. High Net-Worth Individuals (HNIs) can invest by bidding for two lots having a total of 4,000 shares, amounting to an investment of Rs 2,76,000.
Investors can bid for shares in the IPO from June 26 to June 30. The company is expected to finalise the IPO share allotment status on July 1. The company will transfer shares to the Demat accounts of successful bidders on July 2 and refunds for non-allottees will be processed on the same day.
Shares of the company are scheduled to be listed on the BSE SME platform on July 3.
Retail investors will be offered 33.06% of the net issue, while 18.84% of the shares will be allocated to the Qualified Institutional Buyers (QIBs). Non-Institutional Investors will receive 14.18% of the net issue size.
The company allocated 28.27% of the issue size to anchor investors.
Narnolia Financial Services Ltd. is the book-running lead manager of the Ace Alpha Tech IPO. Skyline Financial Services Pvt. is the registrar and SS Corporate Securities Ltd. is the market maker for the issue.
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Ace Alpha Tech IPO Subscription Status
The Ace Alpha Tech IPO was subscribed 0.37 times as of 4:14 p.m. on Thursday, as per data from market tracking site Chittorgarh.
Qualified Institutions: nil
Non-Institutional Buyers: 0.57 times
Retail Investors: 0.50 times
*The subscription status will be updated at regular intervals
Ace Alpha Tech IPO GMP Today
The grey market premium for the Ace Alpha Tech IPO was Rs 14 as of 3:36 p.m. on June 26. This indicates a likely listing price of Rs 83 per share (cap price + today's GMP). The expected percentage gain on listing day is 20.29%, according to Chittorgarh's unit InvestorGain.
Note: GMP does not represent official data and is based on speculation.
Ace Alpha Tech IPO Business And Financials
The company provides trading solutions to clients in the financial industry. Its services include institutional trading and proprietary trading.
Use Of Proceeds
The company plans to use proceeds from the IPO for capital expenditure and for general corporate purposes.
Financials
The company’s profit after tax (PAT) jumped 217% year-on-year (YoY) to Rs 10.53 crore in FY24 from Rs 3.32 crore in FY23. Total revenue increased 210.7% YoY to Rs 15.35 crore in FY24 from Rs 4.94 crore in FY23.
For the nine months ending Dec. 31, 2024, PAT stood at Rs 8.47 crore and total revenue at Rs 12.71 crore.
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.
