Praruh Technologies Launches Rs 23.5 Crore IPO on BSE SME
Praruh Technologies, an ICT system integration and digital transformation solutions provider, has opened its IPO on the BSE SME platform. The company aims to raise Rs 23.50 crore by offering 37.30 lakh fresh shares at a price band of Rs 60-63 per share. The subscription period is from September 24 to September 26, with listing scheduled for October 1. The company's financials show significant growth, with FY24 revenue at Rs 61.66 crore and profit after tax at Rs 6.54 crore. Funds will be used for debt repayment, acquisitions, working capital, and general corporate purposes. The current grey market premium stands at nil.
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Praruh Technologies, an ICT system integration and digital transformation solutions provider, has opened its Initial Public Offering (IPO) on the BSE SME platform. The company aims to raise Rs 23.50 crore through this public issue.
IPO Details
- Issue Size: 37.30 lakh fresh shares
- Price Band: Rs 60-63 per share
- Minimum Investment: Rs 2.52 lakh for 4,000 shares
- Subscription Period: September 24 to September 26
- Listing Date: October 1 on BSE SME
Financial Performance
Praruh Technologies has demonstrated strong financial growth:
| Fiscal Year | Revenue (in crore) | Profit After Tax (in crore) |
|---|---|---|
| FY23 | 28.04 | 2.16 |
| FY24 | 61.66 | 6.54 |
The company has shown significant improvement in both revenue and profitability, with revenue more than doubling and profit after tax tripling year-over-year.
Use of Proceeds
The funds raised through the IPO will be allocated as follows:
- Repayment of borrowings: Rs 7.00 crore
- Acquisitions: Rs 1.00 crore
- Working capital requirements: Rs 14.00 crore
- General corporate purposes: Remaining amount
Market Sentiment
As of now, the grey market premium for Praruh Technologies' shares stands at nil, indicating neutral market sentiment towards the IPO.
Investors interested in the ICT and digital transformation sector may consider this offering, keeping in mind the company's recent financial performance and growth trajectory. However, as with any investment, it is advisable to conduct thorough research and consider one's risk appetite before making a decision.
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