Infollion Research Services is all set to launch its initial public offering (IPO) for subscription starting on Monday, May 29. Investors will have the opportunity to bid for the offer until Wednesday. The price range for the IPO has been set at ₹80-82 per share. The company is expected to be listed on the NSE EMERGE platform on June 8, 2023.
The IPO consists of a total of 26,16,000 equity shares, each with a face value of ₹10. This includes a fresh issue of 22,24,000 equity shares and an offer for sale (OFS) of 3,92,000 equity shares.
Infollion Research Services aims to raise up to ₹21.45 crore through this IPO. The proceeds from the IPO will primarily be utilized to fund the expansion of their current service line in the US and Western European regions. Additionally, the company plans to introduce new categories of freelancers and invest in technology development. Investors can participate in the IPO on or before May 31st, 2023.
The allocation of shares in the Infollion Research Services SME IPO is as follows: 12,08,000 shares for Qualified Institutional Buyers (QIBs), 4,04,800 equity shares for Non-Institutional Investors (NIIs), 8,70,400 equity shares for Retail Individual Investors (RIIs), and 1,32,800 equity shares for market makers.
For interested investors, the lot size is fixed at 1,600 equity shares, with each lot costing ₹1,31,200. Retail investors can bid for a minimum of one lot or 1,600 equity shares. On the other hand, High Net Worth Individuals (HNIs) must bid for a minimum of two lots or 3,200 equity shares, costing ₹2,62,400.
The Lead Manager to the Issue is Holani Consultants Private Limited, while the Registrar to the Issue is Link Intime India Private Limited.
About Infollion Research Services:
Infollion brings together subject matter experts, independent consultants, and freelancers, making it easier for companies, consulting firms, and investment funds to access their expertise for short-term projects. Infollion provides various flexible engagement options to connect with the experts in its network.
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