Alphalogic Industries Shares List Flat on BSE SME, Debut at ₹96
The shares of Alphalogic Industries Ltd. were listed flat at 96 per share during their initial public offering (IPO), the same price at which they made their debut on the BSE SME market on Friday.
Alphalogic Industries’ initial public offering (IPO) started on July 3 and ended on July 6. A total of 13.41 lakh new equity shares valued at up to $12.88 crore were exclusively issued by the firm.
The net proceeds from the IPO will be used to fund the company’s working capital needs, pay for the costs associated with the offering, and further general business objectives.
Finshore Management Services is in charge of the Alphalogic Industries IPO, while Cameo Corporate Services has been designated as the IPO registrar.
50% of the shares allocated for the IPO are set aside for retail investors, while the other 50% are allocated to other investors.
By the end of Day 4, Alphalogic Industries Ltd.’s SME IPO had been subscribed to 5.34 times. According to statistics from Chittorgarh.com, retail investors have shown a substantial level of interest by subscribing to 5.19 times the authorised part, followed by non-institutional bidders (NII), who did so at a rate of 4.24 times.
The IPO saw a 49% subscription rate on the first day, with a 25% retail share and a 67% NII portion. The subscription climbed to 1.20 times on the second day, and on the third day, it had grown to 1.91 times.
After the IPO, M/S. Alphalogic Techsys Ltd’s promoter stake will drop from 100% to 73.67%.
Alphalogic Industries recorded a net profit of 2.19 crore and total sales of 18.23 crore for the fiscal year that ended in March 2023.
A division of M/S. Alphalogic Techsys Ltd, Alphalogic Industries is an industry leader in the development, production, distribution, and installation of industrial and institutional storage systems.
Cantilever Racks, Lockers, Heavy Duty Storage Racks, Metal Pallets & Crates, Library Stacks, Mezzanine Floors, Book Cases, Book Trolleys, Book Supports and Compactors are just a few of the storage options the firm provides.
Several industries, including the automotive, e-commerce, logistics, engineering, food, pharmaceutical, academic, and IT sectors, have successfully used Alphalogic Industries’ products.
About Alphalogic Industries:
Alphalogic Industries Limited is engaged in the design, manufacturing, supply, and installation of industrial and institutional storage systems. The company provides a wide range of products including industrial storage and racking systems, metal pallets and crates, staff lockers, mobile compactor systems, library stacks, book trolleys, and mezzanine floors. Alphalogic Industries caters to customers in India.
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