Infinity Infoway Announces ₹25 Crore IPO on BSE SME Platform
Infinity Infoway, a SaaS provider specializing in ERP solutions, is launching an IPO on the BSE SME platform to raise ₹25 crore. The company is offering 15.75 lakh equity shares with a price band of ₹147-₹155 per share. The IPO proceeds will be used for developing proprietary technology, IT infrastructure, tender deposits, working capital, and general corporate purposes. With 17 years of experience, Infinity Infoway serves 38 universities and 11 industries. Holani Consultants is the lead manager, and Bigshare Services is the registrar for the IPO.
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Infinity Infoway, a Software as a Service (SaaS) provider specializing in Enterprise Resource Planning (ERP) solutions, has announced its plans to go public through an Initial Public Offering (IPO) on the BSE SME platform. The company aims to raise ₹25.00 crore through this offering, marking a significant milestone in its growth journey.
IPO Details
The IPO is set to open for subscription on Tuesday, with the company offering 15.75 lakh equity shares. The price band for the issue has been fixed at ₹147.00-₹155.00 per share, providing potential investors with an opportunity to participate in the company's future growth.
Fund Utilization
Infinity Infoway has outlined several key areas for utilizing the IPO proceeds:
- Development of 'ZEROTOUCH': A proprietary technology solution
- Purchase of IT infrastructure and certification
- Tender deposits
- Working capital requirements
- General corporate purposes
Company Background
Infinity Infoway brings 17 years of experience in the IT sector to the table. The company has established a strong presence across various industries and educational institutions:
- Education Sector: Present in 38 universities through its Campus Management System
- Industry Presence: Serves 11 industries with its Infinity ERP solutions
Management Speak
Bhaveshkumar Dhirajlal Gadhethriya, Managing Director of Infinity Infoway, emphasized the company's extensive experience and wide-reaching solutions in his statement about the IPO.
IPO Management
For this public offering, Infinity Infoway has engaged the following service providers:
- Lead Manager: Holani Consultants
- Registrar: Bigshare Services
This IPO represents a significant step for Infinity Infoway as it seeks to capitalize on its established position in the SaaS and ERP solutions market. Investors interested in the SME and IT sectors may find this offering an opportunity to consider, keeping in mind the risks associated with investments in the stock market.
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