Shares of Ivalue Infosolutions Ltd. listed on the stock market at a discount of nearly 5% to the IPO price on Thursday. The scrip opened at Rs 284.95 on the NSE and Rs 285 on the BSE, lower than the issue price of Rs 299. The market cap stood at Rs 1,518 crore.
The initial public offering of iValue Infosolutions was fully subscribed on the third and final day of bidding on Monday. The portion for institutional and non-institutional investors was the most bid.
The IPO consisted only of an offer for sale of 1.87 crore equity shares of face value of Rs 2 each by 13 shareholders. Promoters Sunil Kumar Pillai, Krishna Raj Sharma, and Srinivasan Sriram offloaded their equity shares in the OFS. Investor Sundara (Mauritius) Ltd., an affiliate of private equity firm Creador, sold 1.1 crore shares.
The iValue Infosolutions IPO was subscribed 1.82 times, led by Qualified Institutional Buyers (3.18 times), non-institutional investors (1.26 times), and retail investors (1.28 times).
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.
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.
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